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GE has concluded a commercial alliance agreement with Norway-based Sargas AS to provide a gas turbine for one of the world’s first gas-fired plants with integrated carbon capture for enhanced oil recovery (EOR). Traditionally, carbon capture for gas-fired turbine plants relied on government subsidies and advanced technology research.
Resulting gases are passed over catalysts, causing reactions that separate oxygen from carbon molecules, making the carbon molecules high in energy content, similar to gasoline molecules. Three different carbon tax scenarios are analyzed: no carbon tax, $55/metric ton carbon tax and $110/metric ton carbon tax.
Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oilprices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.
The costs of these alternative energy technologies are falling rapidly, and they are on the path to becoming cost-competitive within the next five to ten years, if not sooner. Base case economics for EVs in North America are very challenging, absent significant disruption in oilprice or battery cost.
Background colors of the cells represent the crude oilprice required for economic feasibility. These synthetic fuels are economically competitive with petro-diesel when the crude oilprice (COP) is at or above $86 per barrel (based on a 20% rate of return, in January 2008 dollars, with a carbonprice of zero).
The report comes as oil majors like ExxonMobil, Chevron and Shell, and other companies, are developing at least a couple dozen oil shale and CTL projects, including 12 CTL facilities projected to produce 170 million barrels of liquid fuels per year at a cost of $2 billion to $7 billion per plant. Earlier post.).
Although co-production plants are much more costly than liquids-only configurations in terms of capital cost, Hari Mantripragadaa1 and Edward Rubin found, because of the high electricity revenues the cost of liquid product is lower than that of the liquids-only case, at market prices of electricity. Click to enlarge.
pre- and post- decarbonization of the electric power sector—to which he referred as pre-CCS and post-CCS, respectively (although decarbonization was not necessarily via CCS—carbon capture and storage).) 90%) or to “repower” using lower carbon feedstocks or generation technologies (e.g. their CO 2 (e.g. ~90%)
of carbon dioxide (CO 2 ) emissions in the US. Electrification will reduce emissions, with the scale determined by the carbon intensity of the power sector. Electrification will also reduce oil dependence, providing foreign policy benefits and the potential to reduce real oilprices and oilprice volatility.
No EDV deployment occurs with high battery costs, low oilprices, and no CO 2 policy. higher oilprices, a CO 2 policy, lower battery cost—the median market shares increase. higher oilprices, a CO 2 policy, lower battery cost—the median market shares increase.
Costs of light-duty plug-in hybrid electric vehicles (PHEVs) are high—largely due to their lithium-ion batteries—and unlikely to drastically decrease in the near future, according to a new report from the National Research Council (NRC). NRC projections of number of PHEVs in the US light-duty fleet. Click to enlarge.
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. . …
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. essential for reducing the cost of electrification, by raising.
Biofuels grow at a slower rate due to lower crude oilprices and. The decline reflects increased domestic production of both petroleum and natural gas, increased use of biofuels, and lower demand resulting from the adoption of new vehicle fuel efficiency standards and rising energy prices. Biomass and biofuels growth is slower.
The study, in press in the Journal of Power Sources , examines the efficiency and costs of current and future EVs, as well as their impact on electricity demand and infrastructure for generation and distribution, and thereby on GHG emissions. Derive GHG emissions and costs of charging of EVs in the 2015 Dutch context and. We therefore.
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.
This means our economic stability is at stake because of our reliance on oil. In fact, four of the last five recessions were started by an oilprice spike. [ 2 ] Furthermore, our environment cannot continue to bear the brunt of carbon emissions stemming from our heavy use of oil.
AEO2015 presents updated projections for US energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High OilPrice, and High Oil and Gas Resource) that reflect updated scenarios for future crude oilprices. trillion cubic feet (Tcf) in the Low OilPrice case to 13.1
The analysis is based on central forecasts of oilprice, electricity. price and carbon pollution reduction scheme (CPRS)/carbon tax policy, and known information about the historic drivers for consumers in the vehicle. However, as EV and PHEV prices gradually reach. operating cost savings increase.
A key barrier to achieving RFS2 is the high cost of producing biofuels compared to petroleum-based fuels and the large capital investments required to put billions of gallons of production capacity in place. Such land conversion may disrupt any future potential for storing carbon in biomass and soil. Economic effects.
Whereas fuel cost used to be a major driver for fleet managers, the lowering of oilprices and the availability of low-cost natural gas has reduced this concern, Navigant notes. A major factor has always been the cost of battery packs. Medium- and heavy-trucks represent 4.3% of vehicles in the US, drive 9.3%
Environmental costs are often not shown on financial statements because the bearers of such costs can be either particular individuals or society at large, are often both non-monetary and problematic to quantify for comparison with monetary values. Source: KPMG. Click to enlarge. billion in 2005.
Using catalysts and heat, hydroprocessing removes oxygen, adds hydrogen and rearranges carbon molecules to create a drop-in petroleum substitute that requires no engine modifications in a 50% blend. Natural bio-oils have carbon chain lengths that are in the diesel range, 16-18 carbon atoms in the hydrocarbon.
Global Bioenergies is now entering the final phase of demonstrating its technology for converting renewable carbon into hydrocarbons. The company will now expand its focus to other second- and third-generation carbon feedstocks, which are associated with even higher reductions in greenhouse gas emissions. Earlier post.).
For each new plant constructed, the BDM selected a feedstock/conversion pair resulting in the lowest cost of ethanol. Sensitivity analyses were conducted to determine key parameters affecting production volumes, cost, and greenhouse gas savings. The study used state-level granularity in its assessments, rather than a national model.
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).
Will be competitive at an oilprice of $45 to $90 at their commercial date. Getting more miles per gallon out of conventional vehicles achieves the same end-goals of lowering carbon emissions and increasing energy security as the movement toward the electrification of transport. Marine scrubbers.
The RBAEF project, which was launched in 2003, is the most comprehensive study of the performance and cost of mature technologies for producing energy from biomass to date. The emissions analysis does not account for carbon sinks (e.g., soil carbon sequestration) or sources (e.g., per liter gasoline equivalent ($1.37 – $2.16
barely rises in OECD countries, although there is a pronounced shift away from oil, coal (and, in some countries, nuclear) towards natural gas and renewables. Despite the growth in low-carbon sources of energy, fossil fuels remain dominant in the global energy mix, supported. Energy demand. — WEO-2012.
The report, which covers US airlines in domestic operations in 2014, highlights a continuing gap in the carbon intensity of US carriers, and comes as the International Civil Aviation Organization (ICAO) meets in Montreal to debate proposals that will serve as the basis for future US regulation. Earlier post.)
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.
Individuals who can afford the initial cost of an EV substantially reduce their carbon footprint while enjoying an average of $2,200 annually in fuel and maintenance savings. When big rigs go electric, they’ll need more electricity The largest economic benefit of transitioning to EVs is a decrease in oil reliance.
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., As long as electricity production depends heavily on high-carbon energy sources, the net effect of PEVs on greenhouse gases will be limited and will vary by region.
FoE’s transport campaigner David Powell said: “Increasing fuel tax is the right thing to do – road transport accounts for a quarter of the UK’s carbon emissions, but in the last decade the overall cost of driving in real terms has fallen.
The horizontal red lines show the comparable price of gasoline (before tax, refining margin 0.3 $/gal, exchange rate: 1 € = 1.326 $) with crude oilprices 100 $/bbl and 150 $/bbl. Source: VTT. 0.7 €/liter (app. US$/gallon US), with first-law process efficiency in the range of 49.6–66.7%—depending
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.
A new study by consultancy Roland Berger defines an integrated roadmap for European road transport decarbonization to 2030 and beyond; the current regulatory framework for vehicle emissions, carbon intensity of fuels and use of renewable fuels covers only up to 2020/2021. BEVs fueled with low carbon, renewable electricity (for PC).
The deep ocean, oil shales, and oil sands are all potentially major sources of future oil production, but these are often expensive to access and their development may significantly increase the environmental costs of fossil fuel use. Nonetheless, high oilprices pushed production from the Canadian oil sands to 1.2
Furthermore, they write, if the relative cost of cutting emissions was high in a given sector, then growing emissions alone would not solely justify major focus on cutting in that sector alone. A growing supply of unconventional transportation fuels would tend to moderate oilprices and would drive up emissions on a life cycle basis.
In a June speech at Georgetown University, President Barack Obama said that the controversial Keystone XL pipeline would only be built if the project “ does not significantly exacerbate the problem of carbon pollution.” ( Earlier post.). Earlier post.). —IHS CERA Insight.
Cleantech Blog Cleantechblog.com, the premier cleantech site for commentary on news and technology relating to clean tech, greentech, energy, climate change 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. Email Neal.
The collapse of oilprices has forced the US shale industry to slash production costs. He broke down the cost reductions into a few categories: “One of these factors is high-grading, where operators are drilling only the better acreage,” said Olmstead. by James Stafford of Oilprice.com.
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