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In a study published in the journal Energy Economics , MIT researchers have found that a fuel economy standard is at least six to fourteen times less cost effective than a fuel tax when targeting an identical reduction in cumulative gasoline use (20% by 2050).
In a new report, the Congressional Budget Office (CBO) finds that the fuel economy standards proposed for model years 2017 through 2025 would eventually reduce revenues from the gasoline tax by 21% in 2040. gasoline tax revenues, however, would not occur for. How Would Proposed Fuel Economy Standards. about 30 years.
Senate Finance Committee Chairman Max Baucus (D-Mont.) introduced the latest in a series of discussion drafts to overhaul the US tax code. This new staff discussion draft focuses energy tax policy on stimulating domestic, clean production of electricity and transportation fuels, which account for 68% of energy consumed in the US.
In the Pre-Budget Report (PBR) released on 9 December, UK Chancellor Alistair Darling announced that all electric cars will be exempt from Company Car Tax (CCT) for 5 years and electric vans will be exempt from Van Benefit Charge (VBC) for the same period. This year’s PBR follows the first contraction in the global economy for 60 years.
On Wednesday, the Senate Finance Committee advanced the Clean Energy for America Act making a few tweaks from earlier proposals. Changes include raising the federal EV tax rebate ceiling to $12,500 and opening the door for automakers who already exhausted their production quotas.
A group of 35 biotechnology and biofuel companies and trade associations are urging the leaders of the House Ways and Means Committee to extend tax credits for cellulosic biofuels for four years, to allow algae biofuels to qualify for those tax credits, and to create an option for monetizing the tax credits as tax refunds.
The study considers five different powertrains (internal combustion engine, hybrid-electric, plug-in hybrid-electric, fuel-cell-electric, and battery-electric) and 12 cost components (purchase cost, depreciation, financing, fuel, insurance, maintenance, repair, taxes, registration fees, tolls and parking, payload capacity and labor).
version of the vehicle but with fuel economy and CO 2 emissions approaching those of a Prius. CPT was advised on the transaction by Turquoise International (corporate finance) and Matthew Arnold Baldwin (legal & tax). HyBoost shows comparable performance to the conventional 2.0L Earlier post.). —CPT CEO Nick Pascoe“.
As part of a comprehensive reform plan to simplify the Commonwealth of Massachusetts’ transportation system, Governor Deval Patrick is proposing a fuel tax increase of $0.19 The increased fuel tax is intended to be in lieu of an increase in tolls. Future increases in the state fuel tax would follow the Consumer Price Index.
Among the transportation-related elements of US President Barack Obama’s new climate action plan, which he is outlining today in a speech at Georgetown University, is the development of new fuel economy standards for heavy-duty vehicles post-2018. The Administration will also seek to expand bilateral cooperation with major emerging economies.
These efforts will likely be achieved through continued renewable and clean energy development, infrastructure overhaul, new limits on pollutants and through the establishment or broader adoption of resource and environmental taxes, along with plans to introduce pilot cap-and-trade mechanisms for both carbon and various pollutants.
Most Australians now agree our climate is changing, this is caused by carbon pollution, this has harmful effects on our environment and on the economy—and the Government should act. However, where applicable, an equivalent carbon price will be applied through changes in fuel tax credits or excise. —Prime Minister Gillard.
The US has up to now adhered to the user-fee principle in financing transportation infrastructure—i.e., users pay for the construction and maintenance of roads via a federal fuel tax. User Charges Based on Fuel Consumption (Gasoline and Carbon Taxes). States use similar mechanisms. —Huang et al.
Vehicle tax credits or rebates. Examining the tax credits for PEVs, the authors note that the Congressional Budget Office (CBO) concluded that the PEV tax credit is too small to stimulate a significant amount of new consumer demand, and that most taxpayers do not have a tax liability great enough to even use the credit.
In a deal brokered by the city’s newly commissioned Citizens Environmental Task Force, Exxon/Mobil, owners of the Exxon/Mobil Refinery in the City of Torrance agreed today to fund a bond that will make low cost financing of solar energy systems for home and apartment owners. It’s a pretty good idea isn’t it?
Republicans themselves created these huge deficits, which started after their huge tax cuts for gazillionaires in the 80′s, and they never went away. They figured the tax cuts would force government to cut spending. So stop panicking like little schoolboys in a rectory.
Reduce fees, taxes and upfront costs for electric vehicle owners and invest in battery research. California has a strong interest in promoting the adoption of electric vehicles, based on the benefits to the economy, environment, and quality of life.
Nepal new budget: removes tax hikes on EVs, waives renewal & road tax for 5 years. The Government of Nepal, Finance Minister Yuba Raj Khatiwada announced the budget for the fiscal year 2021-22 which allocated a total of 1.64 Here are some of the highlights of the budget presented by Nepal Finance Minister Yuba Raj Khatiwada.
Minerals and the materials derived from them are at the heart of energy transition strategies, and emerging markets and developing economies are the overwhelming providers. There are also unanswered questions about how to even finance electrification or road construction and maintenance given lost revenues from fuels taxes, Foss said.
The Commission was created in 2012 to identify solutions for increasing US energy productivity and aid in jumpstarting the economy. The recommendations are organized under three overarching strategies: Invest in energy productivity throughout the economy. Apply innovative best practices to government buildings and vehicle fleets.
Per gallon federal gasoline and diesel taxes collected at the pump are deposited into the federal Highway Trust Fund (HTF). By law, these excises are the primary revenue source for financing road, bridge and transit projects. The less motor fuel used by drivers, the less revenue generated for improvements financed through the HTF.
The Government of Canada’s commitment to eliminating inefficient fossil fuel subsidies signals both greater support for clean technology as well as emission reductions across the economy from traditional sectors. Canada is also committed to phasing out public financing of the fossil fuel sector.
With opportunities for drivers to earn additional income upon purchasing a new vehicle by having Firefly’s smart display screen technology integrated onto and inside each vehicle, Hyundai Drive by Firefly could help cover monthly car lease/financing costs for qualified drivers and fleets for the duration of the program.
Funded through the American Recovery and Reinvestment Act (Recovery Act), the program will provide direct payments in lieu of tax credits in support of an estimated 5,000 biomass, solar, wind, and other types of renewable energy production facilities. This direct payment program allows for an immediate stimulus in local economies.
Beyond that, they suggest making a down payment of at least 20 percent and financing the thing for no more than four years. percent interest with 20 percent down, Investopedia suggests a total purchase price for your shiny new car – including taxes and whatever other fees a dealer feels like charging that day – at just $16,687.
These platforms—which combine open alliance legal agreements (like Visa or Mastercard's legal agreements), distributed ledger technology (for example, blockchains like IBM's hyperledger ), and end-to-end encryption—can handle not only payments but also finance, trade, tax, and audits in a uniform manner.
America’s dependence on oil not only undermines our economy, it also poses serious risks to our national security. Highway Trust Fund financing for new highway, bridges and tunnel infrastructure should be to the extent possible shifted to user fees based on tolls, and incorporating congestion pricing where appropriate.
It also reviews government policies in a number of OECD countries as well as a selection of non-OECD economies. Governments can design fuel economy regulations so that they are technology neutral, and that they foster continuous innovation by allowing flexibility in achieving the outcomes rather than supporting specific solutions.
We emphasize that this policy portfolio is not a substitute for an economy-wide carbon management policy (such as a carbon tax or cap-and-trade system). Indeed, an economy-wide constraint would ensure that reductions in fuel consumption and GHG emissions are not displaced to sectors not covered under transportation-specific policies.
Improve” policies include tightened fuel-economy standards and increased advanced-vehicle technology sales (e.g. The IEA expects urban transport energy consumption to double by 2050, despite ongoing vehicle technology and fuel-economy improvements. vehicle quotas and vehicle registration taxes) and private motorized travel (e.g.
Even under a relatively conservative baseline scenario that assumes no improvement in EV costs in the coming ten years, EV adoption could result in significant economic benefits by stimulating the overall economy, reducing pollution, and improving public health outcomes. charging) and component technology subsidies.
billion of debt financing guarantees available for projects that employ innovative energy efficiency, renewable energy and advanced transmission and distribution technologies. ConocoPhillips suspended the project in fall 2008 due to the deteriorating economy and a loss of federal tax credits. Earlier post.) Earlier post.).
To reinforce the incentives from emissions standards, member state governments can differentiate existing transport taxes according to the CO 2 emissions of vehicles and the energy content and CO 2 emissions of fuels. This should include carbon and energy taxing, for example, as proposed in the amendment of the Energy Tax Directive.
The survey also found that buyers of battery electric vehicles and plug-in hybrid vehicles have different transport needs but both are motivated by economy of use and environment; battery electric vehicle owners are also motivated by a free toll road incentive. Vehicle purchase taxes are very high in Norway.
Decoupling economic growth from unsustainable resource use and environmental impacts—especially in urban areas—underpins the transition to a low-carbon, resource efficient green economy. Finance: Tax incentives and subsidies can be used to stimulate the up-take of green technologies.
Those who finance their vehicles will see a net positive cash flow—again, specific to the additional cost of technology—starting immediately. Cost of vehicle technology, vehicle taxes, insurance, maintenance, and fuel for the sales-weighted average model year 2025 vehicle by year of ownership.
To increase overall automobile fuel economy substantially, the government calls for a focus on hybrid technology; the development of a dedicated hybrid engine and the electromechanical coupling devices; and support for the implementation of efficient internal combustion engines. Electric drive system power density of 2.5
Tenneco also announced its intention to separate the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders that will establish an aftermarket & ride performance company and a powertrain technology company. Tenneco is acquiring Federal-Mogul from Icahn Enterprises L.P.
The city and county gets the funding from a bond issue and we pay back the loans as an annual assessment on our property taxes. The County’s Treasure Tax Collector has already provided an assessment of the viability of the County implementing a program under AB 811.
The tax system for energy products must safeguard and improve the Single Market and support the green transition by setting the right incentives. The new rules aim at reducing the harmful effects of energy tax competition, helping secure revenues for Member States from green taxes, which are less detrimental to growth than taxes on labor.
and China markets, while the Russian Finance Ministry recently backed away from a tax proposal which Russian crude producers said would reduce their output. This apparent bravado notwithstanding, the two countries’ entry into the low-price Crudedome is ravaging their economies. percent year-over-year, up from 2.3
Photo: Recurrent Energy Recurrent Energy has secured $513 million in financing for Arizona’s largest standalone battery storage project. Solar and battery storage developer, owner, and operator Recurrent Energy , a subsidiary of Canadian Solar (Nasdaq: CSIQ), secured financing for its Papago Storage project in Maricopa County, Arizona.
Thanks to incentives, the 2025 Nissan Leaf is now the automaker’s cheapest model regardless of powertrain type, reports CarsDirect , undercutting the gasoline Versa economy car. But current financing offers still make the Leaf cheaper. The electric hatchback is also eligible for $1,000 in bonus cash.
While this is a threat for business, there are also opportunities to grow commerce and create jobs, and to innovate to address the needs of growing populations for agriculture, sanitation, education, technology, finance, and healthcare. billion in 2005.
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