Emissions Rules Could Cripple Business Aviation

Business Jet Traveler » August 2009
Tuesday, September 1, 2009 - 5:00am

Proposed federal legislation (H.R. 2454) intended to reduce CO2 emissions could seriously harm the business aviation industry, believes Bill de Decker, cofounder and president of the aviation-consulting firm Conklin & de Decker. According to his calculations, business aviation's emissions are expected to be 15 million tons in 2012, but the allowable limit will be 11 million; in 2020, they are expected to be 19.5 million tons versus 9.1 million allowable; in 2030, 23.6 million tons versus 6.6 million; and in 2050, 33.3 million tons versus 1.9 million.

"To meet the 2050 target will require an improvement in efficiency for the fleet of 8 percent for each year of the next 40 years, if we keep on using jet-A," de Decker said. "That is three to four times the average annual improvement in efficiency we have actually experienced between 1965 and today."

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““CEOs go to their vacation homes just after companies report favorable news, and CEOs return to headquarters right before subsequent news is released. More good news is released when CEOs are back at work, and CEOs appear not to leave headquarters at all if a firm has adverse news to disclose. When CEOs are away from the office, stock prices behave quietly with sharply lower volatility. Volatility increases immediately when CEOs return to work.” —David Yermack, a New York University finance professor, whose recently released study shows a correlation between when CEOs take their private jets on vacation and movements in their companies’ stock price ”

-David Yermack