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New research led by Mohammad Masnadi, assistant professor of chemical and petroleum engineering at the University of Pittsburgh Swanson School of Engineering, offers a closer look at the relationship between decreasing demand for oil and a resilient, varied oil market—and the carbon footprint associated with both.
KPMG developed 3 nexuses linked by climatechange to represent the challenges of sustainable growth. The 10 global sustainability megaforces that may impact business over the next two decades are: ClimateChange: This may be the one global megaforce that directly impacts all others. Source: KPMG. Click to enlarge.
A new study by the Peterson Institute for International Economics concluded that the Kerry-Lieberman “American Power Act”—the energy and climatechange legislation recently introduced in the Senate ( earlier post )—would reduced US oil imports by 33-40% below current levels and by 9-19% below projected business-as-usual levels by 2030.
US carbon dioxide emissions from fossil fuels decreased by 2.8% in 2008 to 5,802 million metric tons of carbon dioxide (MMTCO 2 ), down from 5,967 MMTCO 2 in 2007, according to preliminary estimates released by the Energy Information Administration (EIA). Total US energy-related carbon dioxide emissions have grown by 15.9%
Low-carbon energy sources (renewables and nuclear) meet around 40% of the growth in primary energy demand. High oilprices, persistent differences in gas and electricity prices between regions and rising energy import bills in many countries focus attention on the relationship between energy and the broader economy.
Ceres is a national network of investors, environmental organizations and other public interest groups working with companies and investors to address sustainability challenges such as global climatechange. < —Mindy Lubber, president of Ceres and director of the $9 trillion Investor Network on Climate Risk /p>.
Driven by a number of growing concerns including the increasingly worrying geopolitics of oil, governments and industry are investing heavily to accelerate the development of low carbon technologies that aim to reduce, replace or obviate the use of fossil fuels in the energy mix.
At the same time, oil—and gas—import dependency in the US is likely to fall to levels not seen since the 1990s, because of improved fuel efficiency and the increased share of biofuels. Global consumption growth is also impacted by higher oilprices in recent years and a gradual reduction of subsidies in oil-importing countries.
Two key drivers of EV adoption include climate concerns and oilprices. The potential for reducing carbon emissions by electrifying transportation has caught the attention of local and national government officials across Asia-Pacific due to concerns about the contribution of transportation emissions to climatechange.
Stock-exchanged listed companies will need to address the will of their shareholders, especially with regards to climatechange policies or decarbonization of the economy. After decades of having focused on creating maximum shareholder returns, things have changed dramatically, but maybe not for the better.
Projected growth in world carbon dioxide emissions. World carbon dioxide emissions are projected to rise from 29.0 World oilprices have fallen sharply from their July 2008 high mark. As the world’s economies recover, higher world oilprices are assumed to return and to persist through 2030. Source: IEO2009.
The expected influx of large amounts of alcohol-based fuels and fuels derived from unconventional petroleum over the next decade may cause long-term world oilprices to be between 5 and 12% lower than they would be in the absence of those fuels. million bpd. Donohoo, Malcolm A. Weiss, Ian A.
Most notably, a rise in Saudi crude-oil output could trigger a damaging period of global oversupply, said Jim Krane, the Wallace S. This glut could be exacerbated by future carbon taxes and other policy restrictions on fossil fuels, he said. Further, in theory, higher oil production also shortens the time horizon to full depletion.
We addressed this gap by analyzing the specific changes in infrastructure, technology, cost, and governance required to decarbonize a major economy, at the state/provincial level that has primary. rather than relative prices of technology, energy, or carbon as. to be carbon neutral. California has also. electricity.
Furthermore, DOE will only support technologies that emit less carbon than incumbents—in keeping with our national energy goals. Although biofuels have other economic or security advantages, DOE understands that any drop-in liquid fuel will not insulate consumers from the global oilprice. fleets).
While renewable energy, particularly solar and wind, may have some potential to mitigate carbon emissions, this is not seen as a viable large-scale alternative for commercial shipping. In this case GHG and other pollutants will still be emitted, but they can be reduced through exhaust gas cleaning systems or carbon capture and storage.
The underlying assumption is that the world will immediately use whatever oil can be pumped from the ground, and that supply is independent of demand—that is, oil exploration investments bear no relation to the current oilprice or expectations of future demand. Credit: ACS, Brandt et al. Click to enlarge.
A new study into ‘peak oil’ will question whether the theory should really be about ‘peak oil demand’ rather than supply. As concerns about climatechange, energy security and oilprice volatility coupled with advances in low carbon technology could mean that demand for oil peaks before the world’s capacity to supply it does.
Concerns about carbon emissions and their impact on climatechange plus high and volatile oilprices are increasing the popularity of hybrid and electric vehicles despite their higher costs.
However, consumer demand for PEVs is quite uncertain and, barring another global spike in oilprices, may be limited to a minor percentage of new vehicle purchasers (e.g., The potential impacts of PEVs on climatechange are of particular concern. The recommendations include: Technology-Neutral Policies.
Alternative technologies, such as hybrid and electric vehicles that use oil more efficiently or not at all, continue to advance but they take time to penetrate markets. Without a bold change of policy direction, the IEA warned at the launch, the world will lock itself into an insecure, inefficient and high-carbon energy system.
The National Petrochemical & Refiners Association (NPRA) filed a legal challenge to California’s Low Carbon Fuel Standard (LCFS) with the US District Court, Eastern District of California, Fresno Division. Tags: ClimateChange Fuels Policy. Earlier post.). 110-140, 121 Stat. 1492, and the federal Renewable Fuels Standard.
A new study by the French institute Enerdata, commissioned by the European Federation for Transport & Environment (T&E), suggests that the European CO 2 standards for new vehicles due to come into effect in 2012 will lead not only to a European savings on oil (mainly via lower oil import volumes) but also to slightly lower global oilprices.
A new report from the Council on Foreign Relations (CFR)— The Canadian Oil Sands: Energy Security vs ClimateChange — claims that prudent greenhouse gas regulations can limit emissions from Canadian oil sands while still enabling robust development of the energy resource. Tread carefully with any low-carbon fuel standard.
Without strong climate policy, one might expect production of unconventional hydrocarbon fuels to increase dramatically in the coming decades as supplies of conventional oil become gradually tighter. Keith (2010) Does carbon capture and sequestration (CCS) make sense in the oil sands? Credit: ACS, Bergerson and Keith.
In addition to high oilprices and the financial crisis, the increased use of new renewable energy sources, such as biofuels for road transport and wind energy for electricity generation, had a noticeable and mitigating impact on CO 2 emissions. Tags: ClimateChange Emissions. Source: PBL. Click to enlarge.
That’s where government comes in.only the government can help influence [change] by having a price for carbon and technical incentives. ”. Mr. Immelt’s point is that the spike in oilprices to $147/barrel in 2008 is not enough on its own to get automakers to make electric vehicles.
EU climate policy aims to limit the global mean temperature increase from anthropogenic climatechange to below 2 °C. Carbon accounting practices have a strong impact on total emissions. R&D as above plus carbon tax applied from 2015, and increased over 10 years to a maximum value of €100/t (US$131) CO 2.
The document is a detailed draft technical review of potential environmental impacts associated with the segment of the pipeline in the US, including: impacts from construction, impacts from potential spills, impacts related to climatechange, and economic impacts. What Keystone XL would carry. MMTCO 2 e annually.
Cleantech Blog Cleantechblog.com, the premier cleantech site for commentary on news and technology relating to clean tech, greentech, energy, climatechange and carbon, and the environment. Cleantech Crunched Top 10 Low Carbon Footprint Cars (and one SUV) for. Tree Planting as Carbon Offsets – Does Latitude Ma.
Washington’s fuel pricing isn’t a matter of it being isolated in the middle of the ocean. Earlier this year, the state introduced a new carbon-pricing program (part of the Climate Commitment Act, and Clean Fuel Standard) that fines businesses for any greenhouse gas they emit.
GET IT NOW Advisory Blogger Board Leading Members of The Energy Collective Community Taking the Lead Meet our Advisory Blogger Board Browse Home All Posts Agriculture Alternative Energy Batteries Biofuels Cap-and-Trade Carbon and De-carbonizationClimate Coal Energy Environmental Policy Geothermal Energy Green Building Green Business Transportation (..)
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