Brussels is thinking of shoe-horning air travel into the existing emissions trading system. The ETS has been quite disorderly, with prices for emissions credits rocketing to 30 Euros a tonne earlier this year on cold weather and low rainfall restricting hydro power. Then, when the member states published their emissions reports, prices collapsed to 10 Euros, as everybody came in comfortably underneath their generous targets. This chaos is proving a nightmare for anybody who has to make any decisions on investment in power generation or industrial plant. The system could end up continuing in this fashion, with everybody effectively ignoring it, like the Stability Pact did. Or, given the political will, we could end up with an unstopable political determination to implement it, regardless of the economic logic - like the Euro. In the latter case, prices would be upwards of 30 to 40 Euros, enough to add that amount to the cost of a single ticket from Dublin to Brussels: The era of cheap air flights would be over, by command of Brussels. Some, like the British activist, journalist, pie-thrower and all-round sado-environmentalist Mark Lynas, writing in the New Statesman this month, aim explicity for this:
We could close every factory, lock away every car and turn off every light in the country, but it won't halt global warming if we carry on taking planes as often as we do. A voluntary no-flying movement offers the only hope.
As I wrote in the Sunday Times recently, I can't see Ireland benefiting, given our peripheral location, reliance on tourism and light industry and huge overseas communities moving in both directions. What are we supposed to do, walk on water? The cuts in emissions are likely to come at much less cost in sectors where the substitute technologies already exist.
It is no surprise then that when Michael O’Leary, the chief executive of Ryanair, was asked what people who were concerned about climate change should do, he said: “Sell your car and walk.”
O’Leary is right. Those who are concerned about the environment should focus on power generation and land transport rather than aircraft.
The good news is that reducing emissions is commercially viable already in electricity generation with wind turbines.
At the same time, car manufacturers are developing hybrid petrol-electric engines that can go up to 1,000km on a single tank of petrol as does the Toyota Prius.
For the foreseeable future, however, nobody believes we are likely to see an aeroplane that uses a fuel other than jet kerosene, even on the drawing board.
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