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Aviation Environmental Economics Explained by Dr. Tim Russo

Learn about the intersection of economics and environmental impact in aviation with Dr. Tim Russo from the Department of Economics at the Industrial College of the Armed Forces. Explore how public goods, externalities, and remedies affect the aviation industry, focusing on issues like noise, emissions, and CO2 reduction. Discover how market failures and regulation influence environmental practices in the aviation sector.

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Aviation Environmental Economics Explained by Dr. Tim Russo

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  1. Aviation Environmental Economics Dr. Tim Russo Department of Economics Industrial College of the Armed Forces National Defense University Fort McNair, Washington, DC Formerly an Economist for FAA Formerly a USAF KC-135 Navigator

  2. Aviation Environmental Economics Agenda • Economics • Public Goods • Externalities • Remedies • Environment • Aviation • Noise • Emissions

  3. Aviation Environmental Economics • Economics • Market Failure • Public Goods • Non-Rival Consumption • Non-Excludable

  4. Aviation Environmental Economics Private Good Demand $ unit demand2 Quantity demand1

  5. Aviation Environmental Economics Public Good Demand $ unit demand2 Quantity demand1

  6. Aviation Environmental Economics • Economics • Market Failure • Externalities • Spillovers • The Coase Theorem

  7. Aviation Environmental Economics • Economics • Remedies • Permit Trading • Regulation • Timing • Benefit/Cost Analysis • Corporate • Government

  8. Aviation Environmental Economics • Environment • Valuation • Cost Assessment

  9. Aviation Environmental Economics • Aviation • Noise • Emissions • CO2 – Kyoto Protocol • EMBOSS Model

  10. Aviation Environmental Economics $ CO2/year Kyoto Target

  11. Aviation Environmental Economics Analysis by the Forecast and Economic Support Group (FESG) of CAEP/ICAO shows that if emissions by aviation are reduced at lowest cost, the greatest part (about 70%) of the emissions reduction will be the result of a reduction in aircraft kilometres and revenue tonne kilometres (RTKs). Technology improvement from a shift towards using more fuel-efficient aircraft accounts for the balance (around 30%). From Aviation and Climate Change, 2002.

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