Never before has the quest to balance the needs of people, the environment, and the economy been so important. While sustainability has. The Environmental and Economic Sustainability of Carbon. Capture and Storage. Paul E. Hardisty 1,2,*, Mayuran Sivapalan 3 and Peter. Available in the National Library of Australia collection. Author: Hardisty, Paul E; Format: Book; xxi, p.: ill. ; 25 cm.
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Please accept our apologies for any inconvenience this may cause. These studies have considered the costs of action to reduce emissions, and the economic costs that would result if climate change is allowed to take its course econoic.
The analysis provides an indication of the threshold carbon price at which the decision to implement various carbon reduction measures would occur.
Two capture scenarios were investigated: Case 1 achieves carbon reduction benefits with greater value than the financial costs of achieving them. While sustainability has been widely taken up by governments and business, the world has continued to move in increasingly unsustainable directions, from continued dependence on fossil energy to rising greenhouse gas emissions, and erosion of biodiversity.
Can I get a copy? The geo-sequestration element of CCS is the least well-developed of the three components, but nevertheless the petroleum and waste management industries have decades of experience in injecting fluids of all types into geological formations for long-term storage.
The Physical Science Basis. Not only has the world dramatically increased its consumption of all kinds of energy over the last thirty-five years, our energy mix has also remained essentially unchanged [ 5 ].
A much more advantageous approach for this operator in the near term would be to examine other alternatives to removing carbon emissions from its overall portfolio, where this can be achieved at lower cost. While carbon emissions to atmosphere are clearly the major externality, other external costs and benefits also exist. Installation of the capture system has a significant effect on the performance of the plant. Common terms and phrases achieve aquifer assets Australia base case value benefits of remediation biodiversity CAPEX Chapter climate change CO2e considered contamination cost of carbon costs and benefits damage decision DEFRA desalination disbenefit discount rate discussed disposal ecological economic and sustainable economic sustainability assessment ecosystem services ecosystems EESA effects environment environmental and social estimated examined example external costs facility Figure fossil fuel freshwater future GHG emissions global groundwater Hardisty impacts improve increase industry issues landfill Libya million monetization NAPL natural natural capital nomic operation option overall parameters planet planning horizon pollution production range reduce regulatory remedial approach renewable energy result sensitivity analysis significant social costs society stakeholders Stern Review Table TEV of water tion treatment u.
Only if the social cost of carbon is sufficiently reflected in an effective price for carbon, and if it rises significantly over time, will the operator, in this example, be able to justify deploying CCS. Climate change is a global issue, and does not respect national boundaries. The ranges of values for key parameters for this assessment are presented in Table 6. The least preferred scenario included dedicated infrastructure, poor sequestration reservoir performance, and high estimates for capture costs, while the preferred scenario involved shared infrastructure with unit costs approximately one-third lower than dedicated infrastructurelow-end estimates of capture costs and optimal reservoir performance.
In the context of current estimates of the social cost of carbon, CCS does not appear to be viable for managing emissions from facility liquefaction and compression. Selected pages Title Page. We understand the science of the problem, at least in overall terms, if not in detail. Account Options Sign in.
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The title will be removed from your cart because it is not available in this region. Of these, however, e.haddisty seven projects are currently in the operational stage; the remainder are in the evaluation, definition, or execution stages. Associated benefits sstainability the elimination of other types of air-emissions that would occur as part of GHG reductions lower emissions of particulates, soot, NOx and SOx from power plants, for instanceand the value of benefits of biodiversity and ecosystem protection, for instance, are rarely considered, but could be significant.
Clearly, retrofitting a capture ready plant with CCS technology is more economic than on a carbon capture unready plant, no matter what year the retrofit is made. Toggle navigation Additional Book Information. N hbk Main Reading Room.
The Environmental and Economic Sustainability of Carbon Capture and Storage
All values are in real dollars; inflation is not included. By definition, sustainability environmenttal concerned with the future, which is inherently uncertain. Implications For this facility, the analysis reveals that the environmentally, socially and economically optimum approach would be to implement Case 8 best-in-class energy efficiency design across the facility and Case 1 CCS of CO 2 contained in the reservoir gaseither alone or in combination.
Under base conditions, CCS is not ecobomic, even using a low social discount rate and a reasonable median estimate for cost of carbon. Sensitivity Analysis Any analysis of this type is inherently subject to uncertainty.
Environmental and Economic Sustainability – CRC Press Book
On a global scale, we have, in effect, done little so far to combat it. You must be logged in to Tag Records. Under base conditions, assuming social 3. The likelihood and magnitude of these risks will vary considerably depending on the geological conditions of the reservoir, location, nearby population density, and the vulnerability of nearby aquifers [ 16 ].
Technical Study, Report No. If a decision is favourable or economic over a wide range of parameter inputs, compared to other possible decisions, then despite the overall uncertainty in the e.hardisgy dollar figures, the decision can be identified as superior among its competitors. The basic technology is mature and robust. As shown, the capital expenditure associated with each case varies considerably. The examples presented above examine the wider environmental and economic implications of ajd CCS in various applications.
The valuation and estimation of external benefits and certain costs are subject to even larger variations, especially over a year horizon. In this case the question becomes which of a wide variety of CCS options available provides the best long term environmental, social and financial outcome.