Europe: The World's New Enrivonmental Police Force

Europe’s Emissions Trading Scheme (ETS) is all about regulating the output of CO2 emissions.  Companies are given an allowance of CO2 emissions they are allowed to put into the air.  This allowance is smaller than their normal operating emissions, so either companies, ideally, produce less or they buy green and better equipment to produce the same product but less CO2.  If companies go over their CO2 emissions they can buy more allowances from other companies who aren’t using theirs.  The below video breaks it down really nicely:

ETS has been around since 2005.  Starting 2012, airlines going to or from Europe will have to participate.  In the UK, aviation counts for 9% of their total greenhouse gasses.  The US’s aviation counts for 3%.  Since 1990, emissions have doubled.  It is guessed that aviation in the UK will be at 29% by 2050.  This is why the ETS will expand to aviation.  Financial Times states that all airlines will be given an allowance, about 82% of their normal operation to fly into or out of Europe.  15% will be auctioned off and the remaining 3% will be on reserve for any new comers.  The scheme encourages the airlines to cut their CO2 emissions or else they have to spend money to buy more allowances from other companies, or the European government, who have already reduced their emissions and are getting rich. 

The US is fighting this new rule hard.  They do not think that US carriers should have to participate.  The European Union does not understand the US’s grounds.  They say that the US will actually have an advantage over European carriers as they will always be coming or going from Europe, where as the US’s European destinations count for only a fraction of their sales.  Still the US does not agree with EU’s methods.  Other carriers agree, action is needed, but it should be a global decision, not up to the European’s to decide what is right for the world.  Another reason the US does not agree with the European Union is because the money collected does not have to go to environmental efforts, some people find that shady. 

It is said that if the ETS goes through, it will be good in the long run as better routes will be established, better engines will be designed, and more biofuels will be used.  On the down side, Europe is going to lose business as less European hubs will be used to new Middle East hubs will develop.

I do not think that the US should have to participate.  I think that plan is awesome and will work to reduce CO2 emissions, but when did Europe start making the world’s decisions?  I believe that all nations should get together to come up with the best option for all countries plan and implement that.