Europe Forcing Airlines To Buy Emissions Permits

European Union governments gave formal approval Friday to a potentially costly system of capping greenhouse gases from any airline flying into or out of the trade bloc -- just as the airline industry reported new evidence of the impact of a worsening economy.

Airline chiefs immediately criticized the decision, saying it would cost the industry at least 3.5 billion euros ($4.4 billion) each year to comply. The Europeans are "acting in a bubble -- even in the middle of a global economic crisis," said Giovanni Bisignani, the director general of the International Air Transport Association.

Read the whole story here.

Comments

[NWBrunette]

Wonderful news. All the complaining is just whining. It doesn't go in to effect until 2012 - 4 years - the economy will be in a very different place then. And factoring the cost of pollution in to business costs is long overdue. If you can't run your business without having someone else pay for cleaning up your mess, find a new business. There are plenty of entrepreneurs who will figure it out.

[sociocanuck]

Something about this seems very easy to (incorrectly) call socialism and thus get a huge number of misinformed Americans against it. I would almost predict a total boycott of European airlines by residents of at least a few States; but fewer American tourists might make Europe just *too* appealing to other travellers, and they wouldn't want that...

[bitabingbitabangbitaboom]

Is the funds the Govs receive being used to buy cheaper jet fuel or subsidizing cheaper seats?

[andyg]

air prices are going up, less poor people traveling by air, more room to strech my legs, all good news.

[bitabingbitabangbitaboom]

You are about to be cut down to size Mr Big Shot

Viva BARAK Husein OBAMA