Car Carbon Tax may be coming soon......

[Darkblue]

SINGAPORE: Singapore will have to apply a carbon price - be it through a carbon tax or a cap and trade scheme - to send the right price signals, if there's a global regime to curb carbon emissions.

 

This is according to Prime Minister Lee Hsien Loong who was speaking at the Singapore Energy Lecture on Monday.

 

The Ministry of Finance had previously said it would be "more practical" to reduce carbon emissions through taxes because Singapore is a small domestic market with only "a few large energy consumers".

 

PM Lee said it is not enough to just push for efficiency gains because of the rebound effect.

 

Consumers would just use more efficient appliances more often, thereby increasing overall consumption.

 

So, there's a need to impose a charge to induce consumers to change their behaviour.

 

Mr Lee said this at the Singapore Energy Lecture on Monday.

 

He said this was part of a four-pronged strategy to prepare itself for the future energy landscape.

 

"If there's a global regime to curb carbon emissions, that means that Singapore will have to reduce our own emissions more sharply than we are doing now, in order to comply with international obligations, and we would have to make the carbon price explicit to send the right price signals," said PM Lee.

 

Analysts said it is not easy to figure out how a carbon tax will impact consumers and companies here in Singapore as details are not available for now.

 

But green activists welcome the idea, saying it will encourage more environmentally-conscious behaviour.

 

One suggestion is to invest the money collected towards energy research.

 

Howard Shaw, Executive Director of Singapore Environment Council said: "Currently the energy tariff is a flat figure. So, if you use more, you pay more. Perhaps one way of moving forward from that is to divide households into lower energy users, average energy users and high energy users.

 

"Basically, the high energy users will be subject to a different higher tariff. So, the more you use, the more you pay in terms of rate."

 

India, which is Asia's third-largest energy consumer, already has a carbon tax.

 

In July this year, the Indian government introduced a nationwide carbon tax of 50 rupees per metric tonne of coal both produced and imported into India. Officials expect to raise 25 billion rupees for the financial year 2010-2011 from the tax which they are hoping to use for a clean energy fund.

 

Countries like Japan and South Korea are considering implementing a carbon tax.

 

Meanwhile, Mr Lee says there are many uncertainties surrounding the energy climate.

 

So Singapore is diversifying its energy supplies as well as investing in energy research.

 

The prime minister noted that several Southeast Asian countries are planning to build nuclear power plants.

 

Given its small size, safety is a major concern for Singapore.

 

At the same time, he said the nuclear energy option could not be totally dismissed.

 

"There is often strong resistance in countries - from the green movement, from populations who have witnessed accidents like Chernobyl, and are fearful and anxious about their safety. But if we look at this rationally, without nuclear energy, the world cannot make sufficient progress in dealing with global warming," said Mr Lee.

 

He added it would be a long time before Singapore takes any decision on nuclear energy, but it should ready itself to do so.

 

-CNA/wk/ls

 

http://www.channelnewsasia.com/stories/sin...1090640/1/.html

[Shull]

If they're really serious about going green.. then the 1st thing they gotta do is give more rebates(such as lesser road tax) to hybrid and alternative fuel cars..

[Pufferfish1]

they delaying cos need to find out what the best way TO TAX the s h i t out of motorist

[Elfenstar]

If they're really serious about going green.. then the 1st thing they gotta do is give more rebates(such as lesser road tax) to hybrid and alternative fuel cars..

 

Or do it the SG way. Tax those who don't use greener vehicles more, and leave costs similar to what they are for the rest

[themagi]

Or do it the SG way. Tax those who don't use greener vehicles more, and leave costs similar to what they are for the rest

 

Hahahaha yes, Don't give rebates, just make one option more expensive!

[Darkblue]

1. Recycling activities not strong advocated here.

2. No strong penalty for idiots abusing the 3 colored bins - Plastic, Cans, Papers.

3. 4x Diesel tax for passenger cars ????????????????????????????? The whole NEA needs to study about EURO IV standards.

4. Hybrid vehicles rebates not enough.

5. Dino-age COE system, vehicle tax system. Eg. Should change to based on carbon emissions. COE Cat.A Up to 1600cc, Cat.B Up to 2000cc, Open.Cat for all vehicles.

[Readonly]

Or do it the SG way. Tax those who don't use greener vehicles more, and leave costs similar to what they are for the rest

 

this will be the end of all old turbo cars hehe.

[Dwoon]

Hmmm... nuclear energy.... maybe SIngapore buy one of those islands nearby (well maybe not too nearby) and build a plant there..... with supply links back to Singapore, and maybe can sell energy to the neighbouring areas if there's excess capacity.

[Duckduck]

want to change our behaviors? BUILD MORE MRT STATIONS U FARKTARDS!

[Subutai]

Cannot run one... buses also will kanna this tax and the taxation passed to consumers.

 

Think MRT can escape, wanna guess it get its power from?

 

Btw the way OT abit, is it just me or our 'public' buses are getting more and more noisy and smokey?

I stopped my car next to buses at traffic light, damm smelly smoky exhaust.

The idling sounds from their engine is terrible even when they are idling and more so when they speed up or slow down.

[Wt_know]

it should be the other way ... 1.4L & 1.6L turbo will benefit on this for its low CO2 emission

turbo car will gain market share for being lower cc = lower tax and yet produce higher bhp/torque + lots of mods (sidelines ... hehe)

 

this will be the end of all old turbo cars hehe.

Edited May 4, 2011 by Wt_know

[Takumi21]

Or do it the SG way. Tax those who don't use greener vehicles more, and leave costs similar to what they are for the rest

 

wah! i agree.. den all e electric and cng car price will go up!

[Melvinyuen]

hmmmm

Does that make me a happy man?

[Readonly]

it should be the other way ... 1.4L & 1.6L turbo will benefit on this for its low CO2 emission

turbo car will gain market share for being lower cc = lower tax and yet produce higher bhp/torque + lots of mods (sidelines ... hehe)

 

like i said the end of old turbo cars.

not referring to the new ones.

[Rosschang]

Later all stay the same, den they just slap carbon tax on top of everything den u know... lol... die liao die liao...

[Takumi21]

judging from PM had said.. i think he refering more to household electricity den cars..

[Readonly]

judging from PM had said.. i think he refering more to household electricity den cars..

 

so they just removed tv and radio tax, now they going to add carbon tax for tv, aircon and fridge? lol

[Labixiaoxin]

who knows what tax will appear after GE? They can come out whatever they want... Suka suka...