NO. 34


Saudi Arabia

Saudi Government Backs GCC Rejection of Proposed EC Carbon Tax

At its meeting in Riyadh on 18 May, the Saudi Council of Ministers endorsedthe rejection by the Gulf Cooperation Council (GCC) of the proposal by theEuropean Community (EC) to introduce a carbon tax, which will be levied on oilimported into the community starting next year at a rate of $3/B, risinggradually to $10/B by 2000. The Saudi Government's response to the carbon taxfollowed the...