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Mexican carbon tax faces clashes with energy haul

Tuesday, October 8, 2013

Mexico's plan to become the first major oil-producing emerging economy to introduce a carbon tax is facing a head-on clash with the government's ambitions to lower the cost of electricity andboost energy output.

Aiming to raise up to $2 billion, the carbon tax is part of a fiscal reform floated by President Enrique Peña Nieto just as he pushes an energy plan to encourage billions of dollars of investmentin Mexico's flagging oil and gas industry.

he carbon tax would affect Pemex's production and its imports of refined products and natural gas, as well as industrial end-users of fossil fuels.

Source: Reuters