Higher Carbon Prices Driving Greater Interest In Carbon Capture Technology
As the cost of releasing carbon dioxide into the atmosphere goes up, so does interest in carbon capture.
As the cost of releasing carbon dioxide into the atmosphere goes up, so does interest in carbon capture.
It is not just the carbon footprint. During the Civil War, a postage stamp to mail a letter cost 3¢. It was still 3¢ when I was a kid. There had been times of inflation, but the price of the stamp had not changed. In fact, during the Civil War, … [continued]
I had the title written before I saw this tweet, but it’s a good metaphor for the overall topic:
I have come to believe that the end of oil & gas could look very different than what people expect. In ways it could appear even to defy the accepted law of supply and demand. If I am right, loss of demand in the face of continued availability of the resources could drive retail prices up instead of down. And once this process has begun, the consequences could quickly become disruptive.
At the moment, we have had over a quarter million deaths due to covid-19. This death toll will continue to rise until the virus infects everyone and causes millions of deaths, or until we defeat it, either by social distancing and contact tracing, a vaccine, a treatment, or whatever tools we employ, including new technologies. I am personally fascinated by the potential of covid-sniffing dogs.
The IMF says a price on carbon is far more effective than government rules and regulations. It recommends a minimum cost of $75 per ton of carbon dioxide.
Some people have asked when the prices will stop falling. Their understanding is that the decline in price really is unpredictable, and they believe that no definitive answer can be made about what source of energy will be least expensive in the future. In some important ways, they are wrong. The declines are predictable, to a degree.
There’s a reasonable case for an identifiable $800 billion in costs for the nuclear portion of the Fukushima disaster. It’s not hard to see that a 40-year recovery period along with costs excluded from this could add 25% to that without breaking a sweat.
It’s clear that shifting to a renewable economy is viable, will have economic consequences for a subset of industries, and will be economically beneficial in multiple ways.
23 scientists have done a review of more than 3000 studies about climate change. Using this interdisciplinary approach, they predict many places on Earth will face up to 6 impacts from warming temperatures simultaneously by the end of this century, with potentially disastrous results.