The main thrust is to increase use of sustainable aviation fuels (SAF), which are incredibly expensive. To cite a conservative estimate, SAF is around 250 percent more expensive than conventional jet fuel. This is somewhat alarming because fuel costs typically make up 25-30 percent of an airline’s total costs.
With the aim of bringing down the cost, the legislation aims to “de-risk” development. It imposes requirements on SAF usage, from 2 percent in 2025 to 70 percent in 2050, and grants favorable financing terms to producers. They will have access to funds raised by the EU’s “green bonds” and investment from the EU budget, itself raised by taxation from member states. Some funds will also come from revenues generated by another burden on airlines, the Emissions Trading Scheme (ETS), which airlines operating flights within the European Economic Area (EEA) and the UK are obliged to participate in (the UK ETS is slightly different but broadly aligned—it remains to be seen if a similar thing happens with ReFuelEU.)
Another European crock of isht. These people will not give up, no matter the evidence, no matter the scientific facts and no matter what the real, unbought scientists say about CO2. They will not give up the urge to control you!! You did know that YOU are the CO2 they want to control, didn’t you? Well, you can now travel knowing you are contributing CO2 to the well being of plants and animals, the plants to convert into O2, and the animals to eat the plants. It would be nice if the temperature went up 2 degrees Celsius where I live. FTS