Fossil Fuels | Peak Oil India | Exploring The Coming Energy Crisis And The Way Forward

Archive for the tag “fossil fuels”

Special: Institutions are pulling out investments worth billions from fossil fuels

mit-a
What is fossil fuel divestment?
Divestment is the opposite of investment – it is the removal of your investment capital from stocks, bonds or funds. The global movement for fossil fuel divestment (sometimes also called disinvestment) is asking institutions to move their money out of oil, coal and gas companies for both moral and financial reasons. These institutions include universities, religious institutions, pension funds, local authorities and charitable foundations.

It is the fastest-growing divestment campaign in history and could cause significant damage to coal, gas and oil companies, according to a study by Oxford University. Previous divestment campaigns have targeted the tobacco and gambling industries and companies funding the violence in Darfur. Divestment is perhaps most well known for its role in the fight against apartheid in South Africa. Read more…

Research: Burning existing fossil fuels will melt the Antarctic ice sheet

READ ORIGINAL PAPER:
Combustion of available fossil fuel resources sufficient to eliminate the Antarctic Ice Sheet
By Ricarda Winkelmann, Anders Levermann, Andy Ridgwell and Ken Caldeira

If We Burned All the Fossil Fuel in the World
Elizabeth Kolbert, The New Yorker

What would happen if we burned through all of the fossil-fuel resources known to exist? In a paper published today in the journal Science Advances, a quartet of German, American, and British researchers take on this question. The answer, not surprisingly, is grim. If mankind managed to combust the world’s known conventional deposits of coal, gas, and oil, and then went on to consume all of its “unconventional” ones, like tar-sands oil and shale gas, the result would be emissions on the order of ten trillion tons of carbon. Average global temperatures would soar, and the world would remain steamy for millennia. After ten thousand years, the planet would still be something like fourteen degrees Fahrenheit hotter than it is today. All of the world’s mountain glaciers and the Greenland ice sheet would melt away; Antarctica, too, would eventually become pretty much ice free. Sea levels would rise by hundreds of feet. Read more…

Shankar Sharma: High GDP growth centred paradigm and GHG emissions

Shankar Sharma, ORF Energy News Monitor

Whereas many conventional economic analysts argue that in order to have adequate human development index the country’s economy has to grow continuously at an appreciable rate, a densely populated and resource constrained society such as ours cannot afford to ignore the implications of high energy / material consumption (which will be a consequence of high growth of the economy). As the table below indicates, whereas the economy will grow by 300% in 36 years at Compounded Annual Growth Rate (CAGR) of 4%, it takes only 18 years to grow the economy by 400% at 10% CAGR. In this context it is essential to address the question how much energy / material consumption increase is considered acceptable?

Time taken for economy to get multiplied at constant CAGR

Read more…

News update

Burning all fossil fuels will melt entire Antarctic ice-sheet, study shows
The Guardian, UK
Burning all the world’s coal, oil and gas would melt the entire Antarctic ice-sheet and cause the oceans to rise by over 50m, a transformation unprecedented in human history. The conclusion of a new scientific study shows that, over the course of centuries, land currently inhabited by a billion people would be lost below water. “For the first time we have shown there is sufficient fossil fuel to melt all of Antarctica,” said Ricarda Winkelmann, at the Postdam Institute for Climate Impact Research in Germany, who led the research published in the journal Science Advances.

Sooty South Asian air and global warming
Nalaka Gunawardene, Scidev.net
Carbon dioxide is not the only greenhouse gas capable of causing global warming and is not the worst culprit. Black carbon, methane, hydrofluorocarbons and ground level ozone need to be controlled. In South Asia black carbon from cooking stoves and fuels like diesel, coal and wood are problematic.

Indian govt to allow private sector to manage 40% of forests
Hindustan Times
The government is set to throw open the management of up to 40% of Indian forests to the private sector to revive degraded forests but experts warn it may destroy complex ecosystems and deprive local communities of a livelihood. The environment ministry issued guidelines to the states last month, where it argued it didn’t have the resources to manage forests well and laid down the procedure to lease out degraded forests to private companies, who would “carry out afforestation and extract timber”.

Cleaning coal instead of wishing it away
Rahul Tongia, The Hindu
So called “clean coal” is under development worldwide. But carbon capture and sequestration is some years away from commercialisation, let alone competitive commercialisation. Thus, “cleaner coal” — in the form of more efficient coal plants — requires innovation to work well with Indian (high-ash) coal. Such efforts need support, ranging from technology, to policy support and financing.

Coal mining sector running out of time, says Citigroup
The Guardian, UK
US banking giant Citigroup says the global coal industry is set for further pain, predicting an acceleration of mine closures, liquidations and bankruptcies. The value of listed coal companies monitored by Citi has shrunk from $50bn (£32bn) in 2012 to $18bn in 2018, a trend it believes will continue. “On the demand side we think thermal coal is cyclically and structurally challenged and that current market conditions are likely to persist,” it says in a report.

Coal prices hit 12-year low as demand from China, India down
Kseboa.org
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until recently have been pillars of strong demand. Benchmark API2 2016 coal futures last settled at $52.85 a tonne, a level not seen since November 2003. The contract is now over 75 percent below its 2008 all-time peak and more than 60 percent below its most recent high following the 2011 Fukushima nuclear disaster in Japan

$250 billion opportunity to invest in renewables: Piyush Goyal
Live Mint
India has a $250 billion investment opportunity in the renewable energy space, said Piyush Goyal, minister of power, coal and renewable energy, at Mint’s fifth energy conclave in New Delhi on Friday. This includes the peripheral transmission and generation segments as well. India plans to have 100,000 megawatts (MW) of solar energy capacity by 2022. The government has also set a target of generating 60,000MW from wind power by then.

Is This The Breakthrough Fusion Researchers Have Been Waiting For?
Michael McDonald, Oilprice.com
Fusion power may have just had the long-awaited breakthrough its backers have been waiting years for. A small secretive company in California called Tri Alpha Energy has been working on fusion power for years. It has built a machine that forms a high temperature ball of superheated gas and holds it together for 5 milliseconds without decay. That tiny timeframe is enough to get backers of the technology excited as it represents a huge leap forward in comparison with other techniques tried in the past.

The choir that sings out of tune
Nimesh Ved, The Hindu
A friend asked me on Facebook if we consider the impact of travel, especially air travel, on our ecological footprint. Surprisingly, many justified it as a ‘positive’ action. How can anyone justify flying in and out repeatedly for conferences? Doesn’t going for a study tour, for example, leave its own ecological footprint? We cannot do without travel and its resulting ecological footprint, but can we at least be conscious of the issue, discuss it and look at our own actions critically?

Picturing the End of Fossil Fuels
Bill McKibben
In the energy world, though, I’m willing to bet that these images are poison to the fossil fuel industry. It’s not just because of their sheer inhuman oversized ugliness, but because they manage to look somehow so antique. Or rather, so modern in a postmodern world. Even without understanding the science of climate change—the horror that the carbon from that digger and that drill rig is driving—you have a visceral sense that they’re in the wrong moment, the wrong mood.

 

India is now a make-or-break nation for climate change – and the planet’s future

India’s coal dependence has led to rising emissions. Now, even the Chief Economic Advisor has acknowledged that India needs to cut down on them.

Sajai Jose

A new global report has revealed that India’s carbon dioxide emissions growth in 2014 was not only the largest in terms of volume in its own history, but for the first time the country has become the biggest contributor to global emissions growth.

In 2014, the world added an extra 187 million tons of CO2 into the atmosphere over 2013 levels, amounting to a 0.5% increase in the sum total of CO2 emissions.  In contrast, India’s emissions from fossil fuel use grew by a startling 8.1% in the same period, amounting to 157 million tons of CO2 more than the previous year’s emissions.

In other words, India has bucked a worldwide trend of slowing carbon emissions to become the fastest-growing major polluter in the world. This marks a significant shift in carbon emissions trends that holds serious implications for climate change.

The first sign that the Indian establishment has taken note of this emerged on Wednesday with a report in the Business Standard stating that Chief Economic Advisor Arvind Subramanian has written to the Prime Minister, recommending that India change its strategy on climate change. “He has advised that India stop focusing on adaptation to meet the inevitable threats of climate change on the poor and, instead, do more to reduce its own emission,” the newspaper said. Read more…

News update

G7: End of fossil fuel era?
BBC News
The G7 has called for a transformation of electricity generation towards renewables and nuclear by 2050. And they said fossil fuel should not be burned in any sector of the economy by the end of the century. Their targets are not binding – but they send a clear message to investors that in the long term economies will have to be powered by clean energy. The world’s leaders have effectively signalled the end of the fossil fuel era that has driven economies since the Industrial Revolution.

The coal boom choking China
The Guardian UK
Chinese miners last year dug up 3.87bn tonnes of coal, more than enough to keep all four of the next largest users – the United States, India, the European Union and Russia – supplied for a year. The country is grappling with the direct costs of that coal, in miners’ lives, crippling air pollution, expanding deserts and “environmental refugees”. Desire for change contends with fears that cutting back on familiar technology could dent employment or slow growth, and efforts to cut consumption do not always mean a clampdown on mining.

Delayed gratification for OPEC, more pain for investors
Kurt Cobb
Delayed gratification is said to be a sign of maturity. By that standard OPEC at age 55 demonstrated its maturity this week as it left oil production quotas for its members unchanged. Why OPEC members chose to leave their oil output unchanged is no mystery. The explicit purpose for keeping oil prices depressed is to close down U.S. oil production from deep shale deposits–production that soared when oil hovered around $100 a barrel, but which is largely uneconomic at current prices. That production was starting to threaten OPEC’s market share.

Over the barrel: For a low carbon path
Vikram S Mehta, The Financial Express
The government’s policy pronouncements over the past year have thrown into sharp relief the conflict between its energy policy and its green agenda. It should endeavour to settle this conflict over the coming year. The purpose of this article is to recommend the steps it should take to do so.

Forget ‘peak oil.’ Is the world’s economy heading toward ‘peak demand’?
Nathanial Gronewold, E&E Publishing
Peak oil, meet peak demand. The hypothesis that oil production is about to peak is being swiftly replaced by the idea that the world’s thirst for crude oil is about to hit a ceiling, posing challenges for firms that face investor pressure to grow. One idea has it that even crude demand in emerging markets is on track to peak and then steadily decline, as is occurring in much of the developed world today.

Peak oil isn’t dead: An interview with Chris Nelder
Brad Plumer, Washington Post
Warnings about “peak oil” have been with us since the OPEC crisis in the 1970s.But after a worrisome series of price spikes starting in 2007, oil triumphalism is once again ascendant. Not everyone’s convinced, however, that oil is really on the verge of a new boom. Energy analyst Chris Nelder, for one, has spent a lot of time scrutinizing the claims of the oil triumphalists. Our newfound oil resources, he argues, aren’t nearly as promising as they first appear.

Why We Have an Oversupply of Almost Everything (Oil, labor, capital, etc.)
Gail Tverberg
The Wall Street Journal recently ran an article called, Glut of Capital and Labor Challenge Policy Makers: Global oversupply extends beyond commodities, elevating deflation risk. To me, this is a very serious issue, quite likely signaling that we are reaching what has been called Limits to Growth, a situation modeled in 1972 in a book by that name.

Where will nuclear power plants of the future be built?
Paul Dorfman, The Conversation
In terms of new build, 67 reactors are under construction worldwide with a total capacity of 64 GW. For the nuclear industry this at first sounds promising, but then “under construction” doesn’t necessarily mean it will be finished any time soon – work first began on one reactor opened in Argentina last year back in 1981. Of the 67 currently being built, eight reactors have been under construction for more than 20 years, another for 12 years; and at least 49 have significant delays.

The IMF’s “shocking” estimate of fossil fuel costs: There’s more to the story

Sajai Jose

Credit: CGP Grey/Flickr, CC-BY 2.0
Credit: CGP Grey/FlickrCC-BY 2.0

Recently, when an International Monetary Fund research paper revealed that the actual cost of fossil fuel usage for 2018 was a staggering US$ 5.3 trillion (approx. 340 lakh crore rupees), it made headlines worldwide, though it went largely unreported in India.

What accounts for the bulk of this figure are the hidden costs of fossil fuel use – referred to as ‘externalities’ in economics – calculated in monetary value. Most of it consists of damages inflicted by fossil fuel use on public health (for eg. deaths from air pollution) and the environment (global warming). Read more…

Shankar Sharma: Letter to concerned ministers on fossil fuel subsidies

To

Sri. Piyush Goyal
Union Minister for Coal, Power and Renewable Energy
Govt. of India, New Delhi

Copy with complements:
Sri. Prakash Javadekar
Union Minister for Environment, Forests and Climate Change
Govt. of India, New Delhi

Sri. Arun Jaitely
Union Minister for Finance
Govt. of India, New Delhi

Sri Naredra Modi
Prime Minister
Govt. of India, New Delhi

Dated 22nd  May, 2018

Dear Sri. Goyal,

Greetings from Mysore, Karnataka.

This has reference to the large number of coal power projects being planned, along with the large number of coal mines being auctioned in the country.

Whereas the civil society organizations in the country have been expressing their serious concerns on social and environmental impacts of relying on coal power, even the economic issues of coal power has come to the fore in recent years.  A hugely authoritative report by IMF few days ago has focused on the unbelievably large subsidies being provided to fossil fuel companies. It says that the fossil fuel companies are benefitting from global subsidies of $5.3tn (£3.4tn) a year. A related article in The Guardian of UK is as in the link below. Read more…

News update

Fossil fuels subsidised by $10m a minute, says IMF
The Guardian UK
Fossil fuel companies are benefitting from global subsidies of $5.3tn (£3.4tn) a year, equivalent to $10m a minute every day, according to a startling new estimate by the International Monetary Fund. The IMF calls the revelation “shocking” and says the figure is an “extremely robust” estimate of the true cost of fossil fuels. The $5.3tn subsidy estimated for 2018 is greater than the total health spending of all the world’s governments. The vast sum is largely due to polluters not paying the costs imposed on governments by the burning of coal, oil and gas.

The IMF Tells a Half-Truth
Richard Heinberg
It’s certainly helpful to have an accounting of the externalities of our collective fossil fuel consumption. But the choice of the word “subsidies” over the more precise “externalities” makes a difference: governments can cancel subsidies in the forms of tax breaks and gifts, but they can’t so easily cancel fossil fuel externalities without curtailing fossil fuel consumption—and that’s a big job, if they’re to do it in a way that doesn’t entail the rapid, uncontrolled collapse of society.

Can the world economy survive without fossil fuels?
Larry Elliott, The Guardian UK
In terms of reducing global poverty capitalism has been a success, but this growth has put pressure on the planet. The question, therefore, is whether it is possible to marry two seemingly contradictory objectives. Can we imagine a future that is cleaner, greener and sustainable – one that avoids climate armageddon – without abandoning the idea of growth and, thus, forcing living standards into decline? The answer is that it will be hellishly difficult, but it is just about feasible if we make the right choices – and start making them now.

Seven Surprising Realities Behind The Great Transition to Renewable Energy
Earth Policy Institute
The global transition to clean, renewable energy and away from nuclear and fossils is well under way, with remarkable developments happening every day. The Great Transition by Lester Brown, Janet Larsen, Matt Roney, and Emily Adams lays out a tremendous range of these developments – here are seven that may surprise you.

How Sustainable is PV Solar Power?
Low Tech Magazine
It’s generally assumed that it only takes a few years before solar panels have generated as much energy as it took to make them, resulting in very low greenhouse gas emissions compared to conventional grid electricity. A more critical analysis shows that the cumulative energy and CO2 balance of the industry is negative, meaning that solar PV has actually increased energy use and greenhouse gas emissions instead of lowering them.

The Counterfeit Shale Revolution (pdf)
Arthur Berman
The shale revolution is counterfeit. Tight oil and shale gas are imitations of something valuable and shale promoters intentionally deceive the public about their true value. It is counterfeit because the cost of produc4on is more than the global economy can bear. Producers and analysts deceive the public with misleading and incorrect break-even prices that exclude important costs or are based on exaggerated reserves. There is no shale revolution: it is a final, desperate effort to squeeze the last remaining petroleum from the worst possible rock.

Are we approaching peak population growth?
Max Roser
Since the 18th century, the world population has seen a rapid increase; between 1900 and 2000 the increase in world population was three times as great as the increase during the entire previous history of humankind – in just 100 years the world population increased from 1.5 to 6.1 billion. But this development is now coming to an end, and we will not experience a similarly rapid increase in population growth over the course of this century.

Book Review of ‘Overshoot’ by William R. Catton Jr.
Craig Straub, The Social Contract
Catton concludes that the human community is condemned to bet on an uncertain future. Misperception of the human situation will motivate efforts to pursue solutions which make matters worse. An ecological understanding of the human predicament will help avoid constructing “the road to hell paved with good intentions.”

Why Greenpeace is first on the chopping block

Sajai Jose

620gre

As Greenpeace India struggles to stay afloat, the real reason why the government wants to shut down the global environmental NGO hasn’t got much attention: Coal, the single biggest source of primary energy in India, is at the heart of the Narendra Modi government’s ambitious plans to ramp up industrial production in the country.

A total of 1,199 new coal-based thermal power plants with a total installed capacity of more than 1.4 million MW proposed worldwide, the lion’s share—455 plants—are in India, according to data from the World Resources Institute. Read more…

Post Navigation