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China Delays Fuel Tax
9 March 2005
AP. The government of China is holding off on implementing its planned fuel tax due to high oil prices and domestic inflation.
Finance Minister Jin Renqing said China prepared plans several years ago for a tax to promote conservation. But he said imposing it now would add to transportation costs and hurt cab drivers’ incomes.
China’s consumer inflation index hit a seven-year high in 2004, when global crude oil prices rose to near US$60 a barrel.
March 9, 2005 in Oil, Policy | Permalink | Comments (0) | TrackBack (1)
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Before long, China will be caught in the same death-spiral of illegal market subsidies, greed and environmental decay that has been drowning us in the U.S. for so long already. [Read More]
Tracked on Mar 9, 2005 12:21:22 PM
