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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This type of analysis explicitly recognises the key issues associated with a project, and using the common metric of money, allows trade-offs between parameters to be examined across a wide range of possible future conditions. Further insight can be had from examining narrower ranges of future possible conditions. This might include examining new build plants using more efficient super-critical designs, and pre-combustion options located closer to disposal sites. CCS options involve various combinations of pre- versus post-combustion capture, central power station and direct drive, and retrofit versus new build installation.
Case studies Management of produced water in the oil and gas industry in the Middle East Management of wastewater in a water utility in Australia Power generation and carbon management in an energy utility in Australia Remediation of contaminated gas works in the UK Energy savings and carbon management in heavy oil processing Ultimately, the solutions to problems of the 21 st century will come from understanding the tremendous value that the environment provides, and reflecting that value within decision-making at every level so that society as a whole thrives.
Environmental and Economic Sustainability
There is now widespread scientific consensus on the major causes of climate change [ 1 ], the overall planetary risks of inaction, and even on the combinations of measures which will be required to deliver the emissions reductions required to eliminate the worst of the future risks posed by an earth system in flux [ e.hardistt ].
Indeed, the broad scientific and policy-making community has been aware of the risks of climate change, and the solutions available, for well over two decades [ 4 ]. In these examples, the Environmental and Economic Sustainability Assessment EESA method is used, in which various options are considered by not only examining conventional financial costs of abatement, but also explicitly valuing the environmental and social evironmental affected by each option [ 13 ].
In this analysis, seven CCS cases were examined and pail in terms of effectiveness and cost, and put into a larger context by including four other ways of reducing GHG emissions from the facility.
As shown in Table 2not all are applicable to post-combustion capture, and not all are commercially available. Description Table of Contents. Central combined cycle power, best-in-class, electric motor compressor drives in liquefaction trains. With rising energy costs and the increasing likelihood of rising carbon costs, each of the cases assessed delivers increasing overall economic benefits to society.
The Economics of Climate Change: The ranges of values for key parameters for this assessment are presented in Table 6.
The Economics of Groundwater Remediation and Protection. As will be discussed below, much of the reason for the leadership of the gas sector in CCS is that the marginal cost of applying CCS in this sector is generally significantly lower than in other sectors, particularly coal-fired power generation [ 12 ].
This in effect provides a database of every possible NPV result for each case, in which each result is considered to be equi-probable.
In other industries, such as LNG, a number of other alternatives are available for carbon emission reduction. Under base conditions, assuming social 3. Collection delivery service resumes on Wednesday 2 January The results of the base assessment are presented in Figure 2with net present values NPVs for each option compared to the reference case.
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Pascala S, Socolow R. National Academy of Sciences. Capturing and geo-sequestering CO 2 entrained in natural gas can be economic and sustainable at relatively low carbon prices, and in many jurisdictions makes financial sense for operators to deploy now, if suitable secure disposal reservoirs are available close by. Surplus power generation, exporting to grid, and. CPD consists of any educational activity which helps to maintain and develop knowledge, problem-solving, and technical skills with the aim to provide better health care through higher standards.
The longer one waits to undertake the retrofit, the less the option is worth, as one approaches the end of life of the facility retrofitting in leaves only one year of carbon cost savings to recoup the investment.
CCS is one of the more expensive and technically challenging carbon emissions abatement options available, and CCS must first and foremost be considered in the context of the other things that can be done to reduce emissions, as a part of an overall optimally efficient, sustainable and economic mitigation plan.
Case 1 is also economic under a wide range of possible future conditions, mostly driven by the GHG reductions achieved by this option compared to the reference case.
Figure 1 shows the annual CO 2 emissions of each case. On a eustainability scale, we have, in effect, done little so far to combat it. Applications to Watershed Management. The examples presented above examine the wider environmental and economic implications of applying CCS in various applications. However, our global economic system is not set up to either measure or reward firms or individual countries for acting in the common good.