Decarbonizing aviation by 2050 will cost Europe 820 billion euros ($894 billion). That could be an unsustainable amount for airline and airport budgets, according to a report by Destination 2050 and SEO think tank Amsterdam Economics.
The document notes that implementing the plan to achieve carbon neutrality will require financial support from EU governments as airline profits decline due to strong competition and recent crises.
According to the report, the largest item of expenditure will be the purchase of environmentally friendly fuel made from animal fats and household waste. This will require 441 billion euros ($480.7 billion). It is expected that by 2050, the share of this fuel in air travel will increase from 6% to 83%. This will reduce the amount of harmful emissions into the atmosphere by 70%.
By 2035, hydrogen-powered narrow-body aircraft are expected to appear on intra-European flights. Experts estimate the effect of reducing carbon dioxide emissions at 60% compared to modern ocean liners.
Earlier it was reported that North Africa is emerging as a key export market for Russian diesel fuel and other petroleum products. According to analysts, the jump in Russian fuel imports is explained by re-exports to other countries, including Europe. The scheme is also used for exports to non-CIS countries, for example to consumers in Latin America. OilPrice writes about it.
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