scholarly journals Oil shortages, climate change and collective action

2011 ◽  
Vol 369 (1942) ◽  
pp. 1748-1761 ◽  
Author(s):  
David Newbery
Keyword(s):  
Climate Change ◽  
Fossil Fuels ◽  
Limited Capacity ◽  
Carbon Taxes ◽  
High Carbon ◽  
High Carbon Content ◽  
Carbon Pricing ◽  
Green Paradox ◽  
Prisoners Dilemma ◽  
Key Issues

Concerns over future oil scarcity might not be so worrying but for the high carbon content of substitutes, and the limited capacity of the atmosphere to absorb additional CO 2 from burning fuel. The paper argues that the tools of economics are helpful in understanding some of the key issues in pricing fossil fuels, the extent to which pricing can be left to markets, the need for, and design of, international agreements on corrective carbon pricing, and the potential Prisoners’ Dilemma in reaching such agreements, partly mitigated in the case of oil by current taxes and the probable incidence of carbon taxes on the oil price. The ‘Green Paradox’, in which carbon pricing exacerbates climate change, is theoretically possible, but empirically unlikely.

Co-movements of financial volatilities in a changing environment

2020 ◽  
Author(s):  
Susana Martins
Keyword(s):  
Climate Change ◽  
Fossil Fuels ◽  
Structural Changes ◽  
Oil And Gas ◽  
Factor Model ◽  
Primary Energy ◽  
Global Scale ◽  
Low Carbon ◽  
High Carbon ◽  
Volatility Model

<p>Anthropogenic climate change has been attributed mainly to the excessive burning of fossil fuels and the release of carbon compounds. On average, 75% of the primary energy is still being produced by means of fossil fuels. In order to mitigate the global effects of climate change, a transition towards low-carbon economies is thus necessary. However, given current technology, this transition requires investments to shift away from high-carbon assets and so the effectiveness of changes in investment decisions depends highly on the expectations about policy change (e.g. regarding carbon pricing). The systemic implications of disruptive technological progress on the prices of carbon-intensive assets are thus compounded by the geopolitical nature of transition risk. If investors are pricing transition risk, this implies prices of high-carbon assets should all be responsive to climate-related policy news. For modelling the dynamics of volatility co-movements at the global scale, we propose an extension to the global volatility factor model of Engle and Martins (\textit{in preparation}). To allow for richer structures of the global volatility process, including dynamics, structural changes, outliers or time-varying parameters, we adapt the indicator saturation approach introduced by Hendry (1999) to the second moment and high-frequency data. In the model, climate change is interpreted as a source of structural change affecting the financial system. The new global volatility model is applied to the daily share prices of major Oil and Gas companies from different countries traded in the NYSE to avoid asynchronicity. As a proxy for climate change risk, we use the climate change news index of Engle et al. (2019). This index is a time series that captures news about long-run climate risk. In particular, we use the innovations in their negative (or bad) news index which is based on sentiment analysis.</p>

Global agreement on carbon taxes is unlikely

2015 ◽  
Keyword(s):  
Climate Change ◽  
Greenhouse Gas Emissions ◽  
Greenhouse Gas ◽  
Fossil Fuels ◽  
Carbon Tax ◽  
Implementation Process ◽  
Carbon Taxes ◽  
Gas Emissions ◽  
Content Type ◽  
Global Agreement

Subject Prospects for the introduction of a global carbon tax. Significance The decline in oil prices offers an opportunity to countries to introduce a carbon tax to reduce greenhouse gas emissions and combat climate change. The UN Climate Change Conference (COP 21), to be held in Paris in November and December, will seek a global agreement to reduce greenhouse gas emissions and set a specific goal to achieve net zero emissions by a certain date. Yet there is little clarity on how this goal could be achieved and whether there will be agreement on setting a price for carbon. Impacts The oil price plunge will continue to divert attention away from the need to reduce reliance on fossil fuels and increase energy efficiency. Without a credible agreement at COP 21, containing climate change disruption will be difficult. For any climate agreement to be credible, its implementation process must be addressed in detail.

BORDER ADJUSTMENTS SUPPLEMENTING A CAP AND TRADE SYSTEM TO COMBAT CLIMATE CHANGE

2019 ◽  
Vol 10 (04) ◽  
pp. 1950017
Author(s):  
MELANIE HECHT ◽  
WOLFGANG PETERS
Keyword(s):  
Climate Change ◽  
Carbon Taxes ◽  
Cap And Trade ◽  
National Treatment ◽  
Carbon Pricing ◽  
Treatment Principle ◽  
Combat Climate Change ◽  
Global Carbon ◽  
Carbon Prices ◽  
Border Adjustments

In the post-Paris Agreement era, the number of carbon pricing initiatives in order to combat climate change grows continuously. However, carbon prices vary substantially among countries which yields negative drawbacks in terms of carbon leakage and loss of competitiveness for firms producing in countries with more stringent regulations. Border adjustments (BAs) could help tackle these negative drawbacks through harmonizing carbon prices across countries. We model a two-stage game where Country A can choose whether to implement BAs in the first stage. In the second stage, producers from both countries compete over prices in Bertrand competition or over quantities in Cournot competition. Most analyses on BAs so far focus on carbon pricing in the form of carbon taxes. However, we observe that many governments achieve their mitigation targets by implementing a cap and trade system with some kind of free allocation of emission allowances. From the current global carbon pricing situation, we identify two conditions for the compliance with the WTO’s national treatment principle that have not been dealt with in detail in previous models: (i) the application of BAs in the form of a cap and trade system and (ii) accounting for free allocation of emission allowances. Our results show that irrespective of the competition type, BAs supplementing a cap and trade system with free allocation improve welfare if the competitive pressure is high.

ALGOMA AR225

Alloy Digest ◽  
2003 ◽  
Vol 52 (12) ◽  
Keyword(s):  
Carbon Steel ◽  
Chemical Analysis ◽  
Physical Properties ◽  
Carbon Content ◽  
Brinell Hardness ◽  
Low Cost ◽  
Heat Treating ◽  
Rolled Plate ◽  
High Carbon ◽  
High Carbon Content

Abstract Algoma AR225 is a carbon steel developed primarily to supply a low-cost material for high-abrasion applications. It is furnished in the form of as-rolled plate with a relatively high carbon content (0.35-0.45%). AR-225 is sold on the basis of chemical analysis only; the number 225 signifies the approximate Brinell hardness. On thicknesses one-half inch and over, this Brinell value may be lower than 225 because of higher finishing temperatures. This datasheet provides information on composition, physical properties, hardness, and elasticity. It also includes information on forming, heat treating, machining, and joining. Filing Code: CS-138. Producer or source: Algoma Steel Corporation Ltd.

Smart Cities and Smart Regulation

2018 ◽  
Author(s):  
Anita Rønne
Keyword(s):  
Climate Change ◽  
Urban Areas ◽  
Fossil Fuels ◽  
System Analysis ◽  
New Technologies ◽  
Smart Cities ◽  
Renewable Energy Sources ◽  
Energy System ◽  
Political Agenda ◽  
Smart Regulation

Increasing focus on sustainable societies and ‘smart cities’ due to emphasis on mitigation of climate change is simultaneous with ‘smart regulation’ reaching the forefront of the political agenda. Consequently, the energy sector and its regulation are undergoing significant innovation and change. Energy innovations include transition from fossil fuels to more renewable energy sources and application of new computer technology, interactively matching production with consumer demand. Smart cities are growing and projects are being initiated for development of urban areas and energy systems. Analysis from ‘Smart Cities Accelerator’, developed under the EU Interreg funding programme that includes Climate-KIC,——provides background for the focus on a smart energy system. Analysis ensures the energy supply systems support the integration of renewables with the need for new technologies and investments. ‘Smart’ is trendy, but when becoming ‘smart’ leads to motivation that is an important step towards mitigating climate change.

scholarly journals Post COVID-19 Recovery and 2050 Climate Change Targets: Changing the Emphasis from Promotion of Renewables to Mandated Curtailment of Fossil Fuels in the EU Policies

Energies ◽  
2021 ◽  
Vol 14 (5) ◽  
pp. 1347
Author(s):  
Kyriakos Maniatis ◽  
David Chiaramonti ◽  
Eric van den Heuvel
Keyword(s):  
Climate Change ◽  
European Union ◽  
Renewable Energy ◽  
Global Economy ◽  
Fossil Fuels ◽  
Global Climate ◽  
Renewable Energy Sources ◽  
Climate Change Policy ◽  
Climate Impacts ◽  
The European Union

The present work considers the dramatic changes the COVID-19 pandemic has brought to the global economy, with particular emphasis on energy. Focusing on the European Union, the article discusses the opportunities policy makers can implement to reduce the climate impacts and achieve the Paris Agreement 2050 targets. The analysis specifically looks at the fossil fuels industry and the future of the fossil sector post COVID-19 pandemic. The analysis first revises the fossil fuel sector, and then considers the need for a shift of the global climate change policy from promoting the deployment of renewable energy sources to curtailing the use of fossil fuels. This will be a change to the current global approach, from a relative passive one to a strategically dynamic and proactive one. Such a curtailment should be based on actual volumes of fossil fuels used and not on percentages. Finally, conclusions are preliminary applied to the European Union policies for net zero by 2050 based on a two-fold strategy: continuing and reinforcing the implementation of the Renewable Energy Directive to 2035, while adopting a new directive for fixed and over time increasing curtailment of fossils as of 2025 until 2050.

scholarly journals Possibilities for Developing Electromobility by Using Autonomously Powered Trolleybuses Based on the Example of Gdynia

Energies ◽  
2021 ◽  
Vol 14 (10) ◽  
pp. 2971
Author(s):  
Mikołaj Bartłomiejczyk ◽  
Marcin Połom
Keyword(s):  
Fossil Fuels ◽  
Technological Development ◽  
High Capacity ◽  
Urban Transport ◽  
Spatial Accessibility ◽  
The European Union ◽  
Low Weight ◽  
Key Issues ◽  
Zero Emission ◽  
Battery Technology

Trolleybus transport refers to contemporary challenges related to a reduction in emissions of greenhouse gases and CO2 into the atmosphere formulated by international institutions, such as the United Nations, the Organisation for Security and Co-operation in Europe, or the European Union. Departure from fossil fuels in urban transport is one of the key challenges for the coming years. Trolleybuses are an important tool in this task, even though their importance was declining in the past. Nowadays, due to, among others, technological development, in particular the availability of high-capacity batteries, their long life and low weight, trolleybus transport is becoming popular again. The use of the existing overhead contact infrastructure of the trolleybus network and small on-board batteries allow expanding the spatial accessibility of zero-emission public transport. Thus, this reduces the social differentiation in access to environmentally friendly transport that does not emit pollutants at the place of operation. The article presents possibilities of using on-board batteries in shaping trolleybus connections with the optimal use of the existing overhead contact lines (OHL). It presents a procedure that allows for the evaluation of the extent to which the OHL should cover the routes of bus lines in order to qualify for trolleybus service in the In-Motion-Charging (IMC) technology. Analysis of the literature shows inadequate scientific studies on combining the advantages of overhead wiring and the development of on-board battery technology in popularising zero-emission transport. This article addresses the key issues related to the use of partially autonomous trolleybuses.

Polyimide as carbon and ceramic polysilazane precursors to obtain high carbon content ceramic for high-temperature applications

2020 ◽  
Author(s):  
André V. B. Andrade ◽  
Luiz F. Belchior Ribeiro ◽  
Emanoelle Diz Acosta ◽  
Fernando J. Da Costa ◽  
Maíra D. Mallmann ◽  
...  
Keyword(s):  
High Temperature ◽  
Carbon Content ◽  
High Carbon ◽  
High Carbon Content ◽  
Temperature Applications
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