GLOBAL FUTURE ANALYSIS
ENERGY | EXPORT TAXES
As oil prices rise, governments not only nationalize (partial) the oil/gas companies and there assets, they also install huge export taxes (or if that is not possible by trade agreements as in Canada: a water tax special designed for the tarsand industry). In Russia mid 2008 the export tax was $ 85.10, this while mid September 2008 the export price in the export harbor Primorsk was $ 85.70. The export tax in Russia will be lowered on October 1, 2008 to $ 66.10. With the old export tax the exporters in the Siberian city of Nizhnevartovsk would post an operating loss of $13 per exported barrel after costs and taxes are taken into account, as they have purchased against higher prices.
Author: Gijs Graafland
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