200 Corporate Jet Owners - Billionaires, Corps Among Them - Get Free Carbon Permits In EU Plan

[hatrack]

Almost 200 corporate jet owners, from oil company ExxonMobil to Starbucks and Iceland Foods, will be awarded free permits to compensate them for the new expense of Europe's carbon trading scheme for aircraft.

The emissions trading scheme means airlines will have to surrender a permit for every tonne of carbon dioxide they emit, which is expected to raise the cost of flying for millions of passengers.

Bigger airlines, such as easyJet and British Airways, have long been preparing for huge bills from the emissions trading scheme.

They will get a large number of free allowances in the first few years of the scheme to protect their businesses from becoming uneconomic. However, corporate jet owners will also be able to take advantage of these free allowances, potentially selling them on for cash if they don't use their aircraft as much as in previous years.

EDIT

http://www.telegraph.co.uk/finance/newsbysector/transport/8818995/Billionaires-to-be-given-free-carbon-allowances-to-offset-green-tax-on-private-jets.html

[Nihil]

1. That's what comes of giving the airlines a free ride - the 1% tag along too.

The airlines have had plenty of notice - effectively an infinite number
of "free allowances" - so why give them a few years more?

Apply the CO2 fee from Day 1 and to *everyone*.

:grr: