EU on Green Aviation Fuel
The European Union’s plans to require the aviation industry to use more sustainable fuels are insufficiently ambitious. The EU should allow member states to set their own more stringent requirements.
Last summer, the European Commission proposed measures to reduce greenhouse gas emissions from aviation as part of the EU’s goal of reducing overall net emissions by 55% by 2030 compared to 1990 levels.
The EU plan would require suppliers to blend at least 2% of sustainable aviation fuel (SAF) into their kerosene starting in 2025, increasing to 5% in 2030 and 63% in 2050.
In a letter sent to the Commission’s climate and transport policy chiefs on Monday, seven countries said that EU-level requirements are necessary; hence, the proposal should also allow governments to go further.
According to the letter, higher national targets would not distort competition in the EU market. Ministers from Austria, Denmark, Finland, Germany, Luxembourg, the Netherlands, and Sweden signed it.
Dan Jorgensen, Denmark’s climate minister, stated that the climate change emergency “requires bolder action” than the EU proposal; it fell short of Denmark’s pledge to eliminate fossil fuels from domestic flights by 2030, a target also set by Sweden.
According to the countries, higher national targets would incentivize more SAF production and lower costs sooner. So far, factors such as high costs have hampered demand; SAF accounts for less than 1% of Europe’s jet fuel consumption.
Most EU countries and the European Parliament must negotiate and approve the EU proposal.
Oil Slips
Oil fell on Tuesday, remaining close to a seven-year high reached last week, weighed down by expectations of increasing US inventories.
The OPEC+ is undershooting its monthly output increases. It should maintain its policy of gradual increases at a meeting. Brent crude fell 28 cents, or 0.3 percent, to $88.98 per barrel. West Texas Intermediate crude in the United States fell 18 cents, or 0.2 percent, to $87.97.
On Tuesday, oil was under pressure due to expectations that this week’s US supply reports would show an increase in crude stockpiles.
