The last few months have seen a rivulet of announcements around proposed carbon capture and sequestration (CCS) plans. Long trumpeted by the fossil fuels industry and given a recent boost by the scientists at the EIA and IPCC, it has become a favored climate change solution by policymakers in the EU, Johnson’s UK and plays a key role in the new Biden Administration energy transition strategies. CCS is also a key component within various envisioned “clean” hydrogen and net-carbon neutral schemes. But many fear that depending on CCS will only anchor fossil energy polluters long into the future. The first of a three-part series, L. Michael Buchsbaum reviews some of the fundamentals and current status of carbon capture projects worldwide.
All posts tagged: fossil fuels
Decarbonization Plan in Chile: An unambitious but dynamic process
Chile is facing important debates for its future. The South American country is immersed in a process to establish a new constitution to manage a multifactorial crisis situation to which the social-environmental crisis contributes heavily. In parallel, the country is committed to becoming carbon-neutral by 2050. Hence, the institutional framework, and the path to reach it, are key. Maximiliano Proaño reports
Global Decarbonization after Covid-19: Strategic Options for Kazakhstan
In addition to other profound impacts, the corona virus has offered global energy markets an unprecedented natural experiment. Collapsing demand for conventional energy fuels and inelastic supply responses have depressed oil prices that are now being incorporated into forward energy planning. This adverse investment accelerator effect is now expected to bring forward the so-called “peak oil” milestone, significantly shortening the profitable lifecycle of known oil reserves.[1] Thus a global health crisis has given us only a foretaste of what we can expect over a longer time horizon, as climate risk continues a slower but more inexorable ascent. Simply put, the rising social cost of carbon will exert the same effect on conventional energy demand, compounded by the emergence of ever more affordable renewable substitutes. Furthermore, the international push for a ‘green recovery‘ in the aftermath of the pandemic is perceived to hasten the end of the oil era. Oyuna Baldakova and David Roland-Holst report
Carbon pricing in Latin America: far from being an effective instrument
To face social and environmental problems generated by fossil energies, market-based solutions have emerged to tackle these challenges on a broader scale. These proposals are often also framed as a “green” approach to economic growth. They include e.g. regulatory disincentives for emitting CO2 through a form of carbon pricing or more specifically, emissions trading systems (ETS) and carbon taxes. Although their rationale sounds adequate, their design and implementation are flawed from different points of views and subsequently result in a minimal decrease of CO2 emissions. The following analysis will focus on the main causes of this (political) deficiency with a focus on Latin America. Maximiliano Proaño has the details.
#IneosVthePeople: The relatively unknown chemicals giant from the world of plastic
Ineos who? That was more or less my response too when I first heard of Ineos. And yet in 2019 Ineos was once again among the global top 5 chemical companies (in terms of sales, which totalled €27 billion). Ineos is also the top European producer of ethylene, the basic feedstock in today’s petrochemical industry and an essential component in the production of plastic. Andy Gheorghiu reports
How the EU assists deforestation in Brazil
Last year, Brazil made international headlines for the devastating forest fires in the Amazon and their impact on the world’s vital oxygen lungs. Many governments – especially from Europe – were quick to condemn the deforestation of the Amazon that had been increasing rapidly since far-right President Bolsonaro took office in January 2019. Rebecca Bertram takes a closer look.
Green Costa Rica is still not rosy
Costa Rica enjoys widespread international fame for being one of the “greenest” countries on earth. The small Central American state has repeatedly been praised for its outstanding efforts in combating climate change, for its reforestation efforts and for generating almost all its electricity from renewable energy sources. Though the government has adopted an ambitious economic plan to make the country carbon neutral by the middle of the century, “green” policies are sometimes not as rosy as they seem. Rebecca Bertram reports from San José.
Gagging on America’s freedom gas
As utilities across Europe make the switch from coal to gas, CO2 emissions there are falling. But on the other side of the Atlantic, ever-rising fracking production deteriorates air and water quality, impacting public health. Buchsbaum reports from Colorado where ozone and other industry associated pollutants regularly makes outdoor exercise dangerous.
Reaching a deal on aviation emissions – CORSIA and the EU-ETS
The EU has introduced a new measure to decrease aviation emissions, which is called CORSIA. But it’s not strong enough to protect the climate, say Mareike Willems and Christoph Störmer.
Gas wars part one: let’s be honest about Germany’s growing dependence on fossil gas
With the ink barely dry on Germany’s Coal Commission report recommending a phase out by 2038, the oil and gas industry is breaking out the champagne. While environmentalists criticize the plan’s particulars, the other side is celebrating the slaying of their strongest competitor. And they’re translating that joy into furious lobbying aimed at ensuring that renewables don’t fill the majority of the void as coal plants are shuttered. L. Michael Buchsbaum explains.