Ask Taxation Expert

Shell Oil Company President Marvin Odium mentioned that a global carbon policy, such as a carbon tax or cap-and-trade system, would be more suitable for the energy industry than state and federal regulations. He stated that the global carbon policy should target all industries. Even with a global carbon policy, Odum mentioned that Shell will stick with oil and natural gas. He believes that natural gas will provide a significant amount of business. He believes that technology will progress to aid in cleaner oil and gas production and power generation. Fossil fuels and hydrocarbons will be in demand over the next half-century, according to Odum. He mentioned that he would not support a carbon in which revenues are allocated to governments’ general funds to spend as they desire (Blum, 2015).

AparnaMathur, an American Enterprise Institute resident scholar, believes that national carbon tax revenues should be used to offset inflation of power prices that low-income families would have to faces due to the tax’s regressive structure. Prices within a cap-and-trade structure can be quite difficult to predict, according to Mathur (Blum, 2015).

A carbon tax fixes a price on carbon dioxide emissions. A cap-and-trade system sets a cap on the amount of carbon dioxide emission, but companies can buy and sell permits to pollute above the limits (Blum, 2015).

References

Blum, J. (2015, November 10). Shell Oil Co. president touts carbon tax over piecemeal regulations. Retrieved November 21, 2015, from Fuel Fix: http://fuelfix.com/blog/2015/11/10/shell-oil-co-president-touts-carbon-tax-over-piecemeal-regulations/

Taxation, Accounting

  • Category:- Taxation
  • Reference No.:- M91703913
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Taxation

Partnership taxable incomepartner d is a 10 percent general

Partnership Taxable Income Partner D is a 10 percent general partner in ABCD Partnership. The partnership's financial records for the current tax year reveal the following: Gross receipts from sales . . . . . . . . . . . ...

Question 1you are working as a tax consultant in mayfield

Question 1 You are working as a tax consultant in Mayfield, NSW. Your client is an investor and antique collector. You have ascertained that she is not carrying on a business. Your client provides the following informati ...

Question - in june 2016 tom had signed an agreement in

Question - In June 2016 Tom had signed an agreement in Sydney with XYZ Ltd to act as the company's plantation manager in Brunei until June 2018. At the time of signing the agreement, Tom was advised that it was possible ...

Questionan entity which is gst registered or which needs to

Question An entity which is GST registered (or which needs to be registered) needs to charge GST on its taxable supplies (s.9.70, A New Tax System (Goods and Services Tax) Act 1999 ("GSTA")). While some transactions may ...

Understanding tax returns assessment - prepare tax returns

Understanding Tax Returns Assessment - Prepare tax returns for individuals To complete these activities you are required to: a) Conduct independent research and analysis of relevant Tax Law. b) Access the most up to date ...

Business taxation assignment -assignment question - carson

BUSINESS TAXATION ASSIGNMENT - ASSIGNMENT QUESTION - Carson Pty Ltd ("Carson"), an Australian resident company for tax purposes, carries on numerous business activities. In the first half of 2014, Carson has thoughts of ...

Taxation theory practice amp law assignment -question 1

Taxation Theory, Practice & Law Assignment - Question 1 - You are working as a tax consultant in Mayfield, NSW. Your client is an investor and antique collector. You have ascertained that she is not carrying on a busines ...

Question 1the lotteries commission conducts an instant

Question 1 The Lotteries Commission conducts an instant lottery called 'Set for Life' under which a winner who scratches three 'set for life' panels wins $50,000 each year for 20 years. The first $50,000 is payable as so ...

Taxation theory practice amp law assignment -question 1 -

Taxation Theory, Practice & Law Assignment - Question 1 - You are working as a tax consultant in Mayfield, NSW. Your client is an investor and antique collector. You have ascertained that she is not carrying on a busines ...

Taxation theory practice amp law assignment -question 1 -

Taxation Theory, Practice & Law Assignment - Question 1 - You are working as a tax consultant in Mayfield, NSW. Your client is an investor and antique collector. You have ascertained that she is not carrying on a busines ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As