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Because the fossil fuel industry is quickly losing public support amid reports of global warming, the industry must embrace clean energy in a more substantial way, the CEO of Royal Dutch Shell said this week.
Shell CEO Ben van Beurden said his company plans to increase spending on renewable energy to $1 billion a year by 2020, according to reports. And he said government policies should include a carbon tax, which will help to cut back on the most harmful pollutants.
A carbon tax creates a fee based on the production or use of fossil fuels related to the amount of carbon dioxide they produce. The more carbon dioxide used, the higher the tax.
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