The International Air Transport Association has set an ambitious goal for its members: transporting a billion passengers on flights using biofuel by 2025. The goal is a demonstration of IATA’s efforts to help cut carbon dioxide emissions. The aviation industry is a major source of these, after all. Hypothetically, the increased use of biofuels in planes could eat into oil companies’ income from jet fuel and this could be a cause for concern. In reality, however, the prospects of biofuel being used on a large enough scale to noticeably dent Big Oil’s income are remote. For starters, biofuel is costlier than regular jet fuel. IATA itself admits that this is a problem, with chief executive and managing director Alexandre de Juniac saying “ We want 1 billion passengers to have flown on a SAF-blend flight by 2025. That won’t be easy to achieve. We need governments to set a […]