Silicon Valley Businesses To Be Hit With Global Warming Tax

San Francisco (CA) - A Bay Area air pollution board has voted to levy an annual greenhouse gas tax on area businesses. The nine-county board said the tax will reimburse the costs for conduction global warming impact studies. 2500 businesses will be charged $1.1 million annually for the amount of carbon dioxide, methane or other greenhouse gasses they pump into the air. Most companies will only pay $1 or less, but major polluters like oil refineries could pay up to $180,000 a year.

The measure passed by a 15 to 1 vote with the sole dissenter saying the tax will likely increase in the future and become a burden on the economy

Read more ... Mercury News.