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This goes hand-in-hand with question one. Since all major importing countries have adopted strong policies on carbon emissions, the impacts on big oil companies are still revealing themselves. Because of this, many major oil companies are investing in alternative energies, and the transportation industry is moving towards more efficient vehicles.
The impact on carbon emissions cut varies from industries to industries. However, according to the analysis of Environmental Protection Agency and US Chamber of Comerce, the costs can be viewed as small relative to the overall economy. It was estimated to be a bit less than 0.2 percent. All in all, the costs aren’t that high in line with these calculations.
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