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getting beyond petroleum

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The knowledge-driven economy seems a more distant prospect in the aftermath of widespread protests across Europe over fuel prices. In the UK, for instance, a motley band of less than three thousand angry yet peaceful protestors were able to bring the economy to virtual standstill in less than a week, vividly demonstrating our dependence on oil. The doubling of oil prices over the past 18 months combined with escalating fuel taxes has been steadily feeding through to the petrol pumps and the strength of feeling over high fuel prices is a loud wake up call to governments across the world. Amongst other things it suggests that the general shift we have been witnessing from direct to indirect taxes has just about run its course.

Document Type: Editorial

Publication date: 2000-08-01

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