EUROPEAN ENERGY TAX PROPOSAL ADVANCING

A controversial proposal for a European energy tax equal to $10/bbl of oil by 2000 has made its first significant moves toward becoming official European Community policy. The tax is seen by its proponents in EC as a means of meeting the organization's commitment to stabilize carbon dioxide emissions at 1990 levels by the end of this century. The tax, based in part on the carbon content of fuels, would start in January 1993 with a $3/bbl levy and rise by $1/bbl/year to the $10/bbl maximum.