NO. 3


OPEC & Environment

Proposed EC Carbon Tax Could Reduce Oil Demand by 4mn b/d by 2000,According to CGES

The recent proposal by the European Commission to levy a $10/B "carbontax" on oil - among other fossil fuels - as part of a drive to stabilizethe Community's carbon dioxide emissions could have serious implications for theoil industry. Were such a scheme to be implemented throughout the former NCW,oil demand in the year 2000 would be 4mn b/d less than otherwise...