7 Sep 2022
Econ Digest
The U.S. Senate has introduced the Clean Competition Act, comprising a carbon pricing mechanism (Carbon Pricing) for U.S-made products and a carbon border adjustment mechanism (US-CBAM) for imported products. The target industries include petroleum production and refining, petrochemicals, fertilizer, hydrogen, adipic acid, cement, iron and steel, glass, pulp and paper, and ethanol. By 2024, producers in the targeted U.S. industries with a carbon intensity above the industry’s applicable carbon intensity baseline must pay a tax on the above-baseline carbon intensity.... Read more
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