Suddenly, it seems, airlines around the world – including in the US – have just woken up to the fact that they’ll soon have to take part in Europe’s carbon emissions trading scheme. And they’re freaking out.
I don’t really understand the hysteria. They’ve known since 2008 that starting at the end of this year, airlines and freight companies that fly into the European Union will have to either cut their greenhouse gas emissions to meet EU standards or buy carbon permits for that excess pollution.
Now, all of a sudden, it’s front page news. There are lawsuits and diplomatic protests and congressional bills and lobbyists howling and righteous indignation steaming from boardrooms across the planet. It’s as though they didn’t think the Europeans were serious about actually making them do it, and now that it’s clear they are, the industry is scrambling to try to avert Air-mageddon.