The UK authorities is drawing up a method to guard its remaining oil refineries from rising carbon costs, after two websites closed.
The Division for Vitality Safety and Web Zero will on Monday concern a name for proof to tell its Way forward for Fuels technique, which might be printed later this yr.
The federal government is trying to embody refining in its UK Carbon Border Adjustment Mechanism, which is able to impose a cost on imports of products with weaker environmental requirements.
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Two of the UK’s oil refineries have already closed previously 18 months, Grangemouth in Scotland, and Prax Lindsey in North Lincolnshire.
Exxon Mobil Corp., which operates the nation’s greatest oil-processing plant has warned the trade might finally disappear utterly if the price of carbon continues to extend.
Earlier this month, Vitality Secretary Ed Miliband stated he’s working with the Treasury to shortly get refineries included within the CBAM. Minister for Vitality Michael Shanks met with trade representatives on Feb. 4 and requested them to share their views within the name for proof.
“Whereas earlier governments have accepted a state of decline and failed to interact, we’re decided to help this sector,” Shanks stated in an announcement.
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