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In a study published in the journal Energy Economics , MIT researchers have found that a fueleconomy standard is at least six to fourteen times less cost effective than a fueltax when targeting an identical reduction in cumulative gasoline use (20% by 2050). Paltsev, M. Babiker, J.M. 2012.09.001.
President Biden called on Congress to suspend the federal gastax for the next 90 days, through the busy summer driving season—18 cents per gallon for gasoline and 24 cents per gallon for diesel. He also called on states to suspend their state gastaxes as well or to find other ways to deliver some relief.
As part of a comprehensive reform plan to simplify the Commonwealth of Massachusetts’ transportation system, Governor Deval Patrick is proposing a fueltax increase of $0.19 The increased fueltax is intended to be in lieu of an increase in tolls. per gallon—a 81% increase of the current $0.235 per gallon.
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 fueleconomy standards for heavy-duty vehicles post-2018. Reducing greenhouse gas emissions in the US. Earlier post.).
Under the scheme, around 500 of the largest emitters in Australia—facilities that have direct greenhouse gas emissions of 25,000 tonnes of CO 2 -equivalent per year or more (excluding emissions from transport fuels and some synthetic greenhouse gases)—will need to buy and surrender to the Government a permit for every tonne they produce.
Meanwhile, significant gains in vehicle fueleconomy over the coming decades are possible and very much needed globally in order to address pressing issues of climate change, energy security and sustainable mobility. carbon fuel vehicles will be needed to continue to decarbonize LDVs and reduce oil use out to 2050 and beyond.
A new study from the Harvard Kennedy School’s Belfer Center for Science and International Affairs finds that reducing greenhouse gas emissions from transportation will be a much bigger challenge than many assume, and will require substantially higher fuel prices combined with more stringent regulations. —Morrow et al.
users pay for the construction and maintenance of roads via a federal fueltax. Revenues from the tax go into the federal Highway Trust Fund, which is independent of the General Fund; every five years or so Congress passes an authorization bill to allocate these revenues. States use similar mechanisms. —Huang et al.
In spring the Chancellor presents the annual Budget statement, which includes a detailed assessment of the state of the economy and the nation’s finances. In his statement, the Chancellor may announce changes to taxes and new spending measures. This year’s PBR follows the first contraction in the global economy for 60 years.
With Europe’s gas phase-out plans now within view, the countries there could be set to lose significant funding from fueltaxes in the coming years. Still, the change could have some latent effects, especially as most countries get crucial revenue from taxes on gas. What about in other countries?
As sales of electric vehicles begin to reach significant numbers across the US, states are exploring approaches to replace lost tax revenue since EV drivers don’t pay fueltaxes as drivers of gas-powered cars do at gas stations. Declining Fuel-Tax Revenues: Beyond Electric Vehicles. MPG from 28.7.
The National Research Council has released a prepublication edition of a new congressionally mandated report that evaluates various technologies and methods that could improve the fueleconomy of medium- and heavy-duty vehicles (MHDVs), such as tractor-trailers, transit buses, and work trucks. per gallon. per gallon or higher.
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 fuelstaxes, Foss said.
In a new report examining the effect of federal tax credits on the plug-in market, the CBO finds that tax credits for buying electric vehicles—which account for about one-fourth of the policy cost—are likely to have the greatest impact on vehicle sales. That effect may be large. Cultivate local PEV clusters.
Greater reliance on energy taxation is needed to strengthen efforts to tackle the principal source of both greenhouse gas emissions and air pollution, according to a new OECD report. Taxes are effective at cutting harmful emissions from energy use, but governments could make better use of them. of emissions.
Burgeoning demands for mobility and private vehicle ownership undermine global efforts to reduce energy-related greenhouse gas emissions. Here, we develop state-of-the-art representations of consumer preferences in multiple global energy-economy models, specifically focusing on the non-financial preferences of individuals.
Projected cumulative greenhouse gas reductions from 2010-2050 by strategy category under maximum deployment scenario. Strong economy-wide pricing measures (such as a $5.00 per gallon fueltax by 2050) could result in an additional reduction of 28% in GHG emissions. Data: Moving Cooler. Click to enlarge.
Any facility producing electricity that is about 25% cleaner than the average for all electricity production facilities will receive a tax credit. Cleanliness is defined by a simple ratio of the greenhouse gas emissions of a facility, as determined by the Environmental Protection Agency (EPA), divided by its electricity production.
The report from a task force assembled by the CEPS (Centre for European Policy Studies), a Brussels-based think tank, on European transport policy has concluded that the EU’s goal of a 60% greenhouse gas (GHG) emissions reduction in the transport sector in 2050 compared to 1990 levels is possible, but at a cost.
States rely on gastaxes to fund road improvements and repairs. Since electric vehicles (EVs) don’t use gas , they don’t contribute to this fund. Step 1: Identify Revenue Replacement Baseline Since all states have a gastax in place, let’s not recreate the wheel. a year in gastaxes.
EVs lack tailpipe emissions, sure, but producing, operating, and disposing of these vehicles creates greenhouse-gas emissions and other environmental burdens. about 60 percent of its electricity from fossil fuels, primarily natural gas, which produces less carbon than coal does. falls somewhere in the middle, deriving.
Cities are expanding, economies are growing, and life expectancy has almost doubled. Fossil fuel combustion has driven an increase in outdoor air pollution that in 2019 killed 29.15 The African continent is undergoing a massive transformation, the co-authors note. billion in 2020 to 4.3 billion by 2100.
Other product attributes like reliability and safety, strongly influence consumer perceptions, as do employee enthusiasm and the company’s impact on the economy.” Edwards believes that “ Gas prices alone are not what will increase hybrid sales. He believes two things need to happen for this to improve.
Is EV charging the next gig for the gig economy? Minnesota State Senator Proposes Electric FuelTax – As more residents of Minnesota buy electric vehicles gastax revenue will decline causing the state to find a way to replace the gastax money it uses to pay for roads and bridges, said Central Minnesota Sen.
According to the report, “On the Road Toward 2050: Potential for Substantial Reductions in Light-Duty Vehicle Energy Use and Greenhouse Gas Emissions,” each element is separately important, but must collectively be pursued aggressively to achieve necessary emissions reductions.
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