President Obama recently touted the “Paris Agreement” as a “turning point” in his misguided attempt to save the planet from climate change.
However, the rules, regulations, and fiscal schemes associated with the implementation mean that airlines are being hijacked into making the “first international aviation climate deal.”
In a nutshell, airlines will pay a tax to fund projects that cut carbon pollution, such as wind farms or solar-power plants. Ultimately, this means the UN will redistribute as much as $24 billion by 2035 from air travelers to the politically-connected environmental activists.
The Center for Climate and Energy Solutions…. said was a practical framework for harnessing market forces to limit growth in airline emissions, which are expected to triple by 2050.The International Air Transport Association (Iata) also welcomed the deal. It said: “The historic significance of this agreement cannot be overestimated. It is the first global scheme covering an entire industrial sector. The agreement has turned years of preparation into an effective solution for airlines to manage their carbon footprint.”Boeing said it commended “the International Civil Aviation Organisation for adopting a carbon-offset system for international aviation that will help the industry achieve its goal of reducing emissions”.Fabrice Brégier, chief executive of Airbus. said the plan was “another key milestone in supporting the aviation industry’s commitment in reducing CO2 emissions”.
Eric Worrall, guest essayist for the climate science site Watts Up With That, notes that the monies spent managing the carbon footprint will be passed on to airline customers. He also provides some context for the agreement.
…It might seem counterintuitive that airlines would support a new tax on their operations, but in the wake of the botched European attempt in 2012 to unilaterally introduce an aviation carbon trading scheme, the mishandling of which saw some airlines operating at a cost disadvantage against their competitors, it is understandable that airlines would support a level playing field, and a measure of protection against some of the more unpredictable green world leaders
Interestingly, from 2005 to 2015, air travel grew more than in any 10-year period since 1975 to 1985. Couple the increasing environmental restrictions on businesses with rising air travel costs, it is likely the airline industry is going to be in for a hard landing when its customers won’t be able to afford tickets.
This aviation climate deal is another legacy that Obama built, which Americans and the rest of the world will be dealing with for some time to come.
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