Because the fossil fuel industry is quickly losing public support amid reports of global warming, the industry must embrace clean energy in a more substantial way, the CEO of Royal Dutch Shell said this week.
Shell CEO Ben van Beurden said his company plans to increase spending on renewable energy to $1 billion a year by 2020, according to reports. And he said government policies should include a carbon tax, which will help to cut back on the most harmful pollutants.
A carbon tax creates a fee based on the production or use of fossil fuels related to the amount of carbon dioxide they produce. The more carbon dioxide used, the higher the tax.
To read this article in full or to leave a comment, please click here
Source: News Feed