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EU TO FORCE AIRLINES TO BUY EMISSIONS PERMITS

AIRLINES CRY POVERTY IN THE HOPE OF STALLING THE RULING

In one of the brighter recent strokes by a governing body, the European Union, on Friday, put in place legislation to force airlines flying into or out of member countries to join the emissions trading system. The measure, which is intended to cap the release of greenhouse gases into the atmosphere, drew considerable criticism from airline industry executives for the timing of its passing, given the current global economic crisis. Estimates are that it will cost the airlines, which serve the European market, at least $4.4 billion per year to comply. The ruling is set to go into effect on Jan. 1, 2012.

Many airlines have fought hard to avoid inclusion in the system, including American-based carriers who are maintaining that the ruling may violate international aviation agreements.

Clearly this is one that will end up in the courts.

Read on after the jump.

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