The folks over at Ryanair must not be very happy with the European Parliament these days. As seen at the New York Times:
In the boldest move yet to stamp its environmental policies on the rest of the world, the European Commission is seeking to impose emissions controls on all flights within and coming into Europe, according to a draft of a proposed law seen by The International Herald Tribune. [...]
Under the law, airlines would have to meet emissions targets starting Jan. 1, 2011, for all journeys within Europe and round-trips to and from airports outside the European Union. If other countries introduce similar measures, the European Union would drop its jurisdiction covering the return leg.
The plans mirror an established system that Europe now uses to combat global warming and meet emissions targets under the Kyoto Protocol. Under that system — which has so far exempted airlines — governments allocate carbon dioxide targets for producers of power, cement, fuels, pulp and paper. Companies must then buy credits to compensate if they breach those targets.
I must admit that I find the idea of carbon credits to be an intriguing means to blend free market mechanisms with environmental goals. However, I can’t help but wonder if advancement of those environmental goals is actually taking place, or if costs are being shifted to consumers and/or environmental damage is being shifted to other parts of the world.
A more entertaining question is whether the idea of such mechanisms will be re-raised in the U.S., given the shift in power on Capitol Hill.
