EC'S CARBON TAX SEEN YIELDING LITTLE EFFECT

A proposed carbon tax may reduce European Community demand for petroleum products by only 0.2%/year to 2000. Christopher Holmes, senior consultant with Gaffney, Cline & Associates in the U.K., said the likely result of the tax is not what the EC intended or even hoped. Even with the tax, demand for products will grow an average 0.6-0.8%/year to 2000, he told a conference on developments in the international energy marketplace.

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