ENERGY TAX

Surcharge on fossil fuels such as oil, coal, and natural gas. The tax aims to give incentives to businesses and consumers to use alternative energy sources including solar and wind power, as well as to generate revenue for the government in order to fund public spending. Some environmentalists presumed energy taxes are necessary to cut down the greenhouse gas emissions, which were said to cause global warming. Conversely, opponents of energy taxes cautioned of its unintended consequences such as increase in prices of almost everything that will reduce the disposable income of individuals and/ or families.

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