New EU refinery rules condemned as "backdoor tax"


By Oliver Bullough LONDON, Jan 31 (Reuters) - European rules which propose forcing refineries to cut greenhouse gases are over-optimistic since big efficiency gains are impossible, and will function as a "backdoor tax", industry observers said on Wednesday. Under the proposed regulations, companies would have to cut emissions of gases produced in oil's "life cycle" -- production, refining, distribution and use -- by one percent a year from 2011. Some European oil firms welcomed the ...

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