Thursday, December 21, 2006

European Union Goes After Airlines on Carbon Dioxide

Beginning in 2011, the European Union wants to put extra charges for carbon dioxide emissions on foreign and domestic airline carriers. It is an effort to meet the requirements of the Kyoto Protocol. It is estimated that the plan will cost 2.9 billion euros ($3.8 billion) a year to buy allowances starting in 2012. The costs will be passed on to passengers and could be more than $50 per ticket depending on the destinations and offset prices.

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