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FAA's Dan Elwell discusses airline cutbacks, impact of high fuel prices on industry

As oil and gas prices continue to climb, airlines in the United States are making cutbacks to help reduce fuel use. During today's OnPoint, Dan Elwell, associate administrator for policy, planning and the environment at the Federal Aviation Administration, gives his take on how the airline industry may be affected by international and domestic caps on emissions. He discusses plans for a "next generation transportation system" that would reduce the amount of time airplanes spent in the air and make flying more efficient. Elwell gives the short-term outlook for airlines and consumers as gas prices continue to rise. He also addresses the disparity between fuel efficiency of U.S. fleets and European fleets.