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President Biden calls on Congress, States for fuel tax holiday; increase in refinery capacity

Green Car Congress

To that end, following on Biden’s campaign promise to “end fossil fuel,” policy and investment signals are being sent by various federal agencies and allied state governments to the market about the refining industry: EPA just finalized a light duty vehicle standard that incentivizes at least 17% electric vehicle sales by 2026.

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MIT study finds fuel economy standards are 6-14 times less cost effective than fuel tax for reducing gasoline use

Green Car Congress

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). Paltsev, M. Babiker, J.M. 2012.09.001.

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Study finds higher gasoline taxes do not disproportionately impact the poor, especially in developing countries

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Sterner is lead author in the UN climate panel’s (IPCC) working group Mitigation of Climate Change. Sterner is also the editor of the new book Fuel Taxes and the Poor, The Distributional Effects of Gasoline Taxation and Their Implications for Climate Policy , authored by 35 researchers. —Thomas Sterner.

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Study finds behavior-influencing policies remain critical for mass market success of low-carbon vehicles

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More than 90% of such vehicles are powered by internal combustion engines burning oil-derived fuels. Encouraging the use of low-carbon alternatives is an essential part of meeting climate change targets as well as improving local air quality and health. Note the different scaling used in the graphs. McCollum et al. Click to enlarge.

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UK Government Pre-Budget Report Offers Tax Exemptions for EVs, £30M in Additional Support for Low-Carbon Vehicles; Annual Fuel Tax Increases and End of Duty Differential for Biofuels

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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. HM Treasury’s Pre-Budget microsite.

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Belfer Center Study Concludes Reducing Car and Truck GHG Emissions Will Require Substantially Higher Fuel Prices; Income Tax Credits for Advanced Alt Fuel Vehicles Are Essentially Ineffective at Reducing Sector Emissions

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Direct transportation (fuel) taxes generate the greatest reductions in CO 2 emission from transportation, achieving CO 2 emissions at 86% of 2005 levels by about 2025. While CO 2 prices are equivalent to fuel taxes, CO 2 prices at their projected levels are far too small to create a significant incentive to drive less.

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Study concludes significant additional transport policy interventions will be required for Europe to meet its GHG reduction goal

Green Car Congress

Without significant additional policy interventions to induce market penetration of breakthrough passenger car and aircraft technologies, the overall European (EU27) greenhouse gas (GHG) emissions reduction goals for 2050 will be difficult to meet, according to a new study by researchers from the University of Cambridge, Stanford University and MIT.