Will The EU Emissions Credit System Work?
Even though we have seen a few crazy ideas from the European Union (EU), their latest attempt to curb the emissions from airlines operating within the boundaries of the EU seems to be nothing more that another income stream for them. So what is the hair brained scheme?
The EU are putting in pace a cap on the legal emissions which each plane travelling to and from Europe can emit (set to come start in 2012). However, rather than simply cap the limit and push towards greener engines, greener fuels and less emissions they are putting in place an emissions credit system. The system will include an auction service whereby an airlines would be able to buy and sell “emission credits”, with each airline required to buy at least 10% of their requirement in an auction system (with the rest available free). Quite how this would work is a mystery!
While the details are still fairly sketchy with the EU, as always, keeping the actual detail well away from the public eye, they seem to be missing the point somewhat. After a decade of encouraging air travel and reducing the costs for people to travel within Europe, they are now looking to tame the beast (i.e. the airline market) which they helped to create.
The industry has for some time been an easy target for added taxation, fines, increased security costs and other additional expense. It seems that the EU have been very active in encouraging us to fly, and the creation of the budget airline industry, and then when we actual believe that flying is cheaper than other modes of transport, they then hit us with charge after charger after charge.
Many of the airlines who operate in the European market have expressed their concerns about the emissions credit system, how it will work, the benefits with many suggesting that the EU are missing the point. Any additional costs associated with the industry should be channelled towards greener engines, greener fuels and less emission, not a crazy scheme to increase costs yet further!