Hawaii hikes petroleum tax

Honolulu, Hawaii - Citing concerns over local economic development and climate change, the Hawaii State Legislature has boosted the tax on a barrel of oil from US$0.05 to $1.05.

The tax has gone from a state environmental response tax to an environmental response, energy and food security tax.

Legislators said that, as the most geographically isolated state in the U.S., Hawaii is “at a crossroads,†importing about 85 per cent of its food and 95 per cent of energy.

The tax hike will allot 5 cents to an environmental response fund; 55 cents to an energy security special fund; 10 cents to an energy systems development special fund; and 35 cents to an agricultural development and food security special fund. The tax will be paid by the distributor of the petroleum product.

CanadianDriver Green News Hawaii hikes petroleum tax