It all comes down to cost, analysts argue: Carbon capture simply too expensive

first_img FacebookTwitterLinkedInEmailPrint分享OilPrice.com:Coal usage continues to fall, and the coal industry wants to do something about that. So does the Trump administration. Their proposed solution to the problem of waning coal usage is carbon capture and sequestration (CCS)—a technology that has been around for a long time.The basic idea behind CCS is to remove the carbon dioxide from the exhaust stream after burning the coal. Then the “captured” CO2 can be redirected. But in the US, the Southern Company and others attempted to develop an additional process. Their ultimate goal was to use cheap and plentiful Mississippi lignite and convert it chemically into clean-burning synthetic gas. The CO2 produced from combustion would also be captured. One actual use is to pump CO2 into older, less productive oil field reservoirs to enhance oil recovery. One suggestion is to replace the oil with CO2 storage after the field has been depleted.Abroad, the giant coal miners (as opposed to the smaller American ones that have been skirting bankruptcy) launched Coal21 in Australia (where coal mining is a huge business) to do research and lobbying. The International Energy Agency argues that half the world’s coal-fired power plants are under 15 years in age, so sequestration will be required in order to reduce the world’s carbon emissions (one-third of which are from burning coal).Leaving aside the question of whether past (not fully depreciated) power plant investment should influence future decisions (the sunk cost issue), the real policy question is: what are we doing—limiting greenhouse gas emissions at the lowest possible cost or saving the coal industry?The problem simply is that electricity produced by coal-fired plants using the latest CCS technology is several times the cost of other existing carbon-free technologies. With respect to a commodity product like electricity, these numbers are politically and financially untenable. To overly simplify, coal is already losing on price to wind. The CCS advocates propose to double the price of coal (from about 3 to at least 6 cents per kWh).At the end of the day, sequestration technologies fail to answer a simple question. Why add sequestration technology and the attendant costs when coal is already becoming increasingly uncompetitive as a boiler fuel relative to wind (which only costs 2 cents/kWh to produce)?More: Coal’s last hope: Carbon capture tech It all comes down to cost, analysts argue: Carbon capture simply too expensivelast_img read more

PGS to Shoot Seismic Over UKCS Licence P2170

first_imgStatoil and its partners in UKCS licence P2170 have committed to pre-fund a 3D seismic survey over the licence area and certain offset acreage, to be conducted by Petroleum Geo-Services ASA (PGS).The survey over the licence P2170, which contains the Verbier oil discovery and the Cortina prospect, will be undertaken during Q2 2018 in the Moray Firth area, Jersey Oil and Gas, who holds 18% in the license, informed.Delivery of the final imaged data by PGS is currently expected in late Q1 2019.This pre-funding commitment has enabled Statoil , as operator of P2170, to have input into PGS’ survey design and the acquisition and processing parameters in order to ensure the delivery of a high quality dataset, specifically optimized to advance the interpretation of the Verbier discovery and assessment of other exploration opportunities within the P2170 licence area.The anticipated timing for delivery of the final imaged data from PGS will facilitate integration with the results from the Verbier appraisal well, scheduled for drilling this summer.last_img read more

Clark Remembered For Building Stronger Community

first_imgFamily and friends are remembering a local woman and her service to Franklin County. Lois E. Clark, of Brookville, passed away Monday at the age of 91.Clark was the marketing director and assistant vice president at FCN Bank for 35 years and later served as executive secretary of the Franklin County Chamber of Commerce for 12 years.The former Sunday School Teacher at Brookville United Methodist Church also served as a past officer of the Franklin County Historical Society, was a member of the National Honor Society and actively supported the Franklin County 4-H.She was a recipient of the Sagamore of the Wabash, the highest honor an Indiana governor can bestow.In 2008, she was selected by the citizens of Brookville as the Belle of Brookville Bicentennial. Two years later, she received the Humanitarian Award from the Franklin County Community Foundation.The Franklin County Chamber of Commerce stated in an email, “She devoted her life to building a strong community and we are very proud of her accomplishments.”A visitation will be held at Cook-Rosenberger Funeral Home in Brookville from 10-2 p.m. on Thursday.Memorial Contributions may be directed to the Franklin County EMS, Franklin County Community Foundation Lois E. Clark Brookville/Franklin County Chamber of Commerce Endowment or Hero Park Gazebo Endowment.last_img read more

The Latest: 2020 CBI canceled amid coronavirus concerns

first_imgThe Latest: 2020 CBI canceled amid coronavirus concerns The director of the National Institute of Allergy and Infectious Diseases told a congressional committee Wednesday that he would recommend the NBA not allow fans at games in response to the coronavirus.That answer by Dr. Anthony Fauci came hours before NBA owners are scheduled to meet to discuss the next steps in responding to the growing concern about the virus.Fauci was responding to a question from Rep. Glenn Grothman, a Wisconsin Republican, during a meeting of the House Oversight Committee. Grothman asked, “Is the NBA underreacting or is the Ivy League overreacting?” He was referencing how the Ivy League recently canceled its basketball tournaments, instead of having them played without fans in attendance or keeping the status quo.“We would recommend that there not be large crowds,” Fauci said. “If that means not having any people in the audience when the NBA plays, so be it. But as a public health official, anything that has crowds is something that would give a risk to spread.” Associated Press March 11, 2020center_img Organizers of the College Basketball Invitational, widely known as the CBI, say they’ve decided to cancel this year’s event because of the “uncertainty about the coronavirus and the impact it is having on college campuses across the country.”The tournament is played at campus sites for teams that aren’t invited to the NCAA Tournament or the NIT.The statement issued Wednesday says officials look forward to bringing back the CBI in 2021.___1 p.m. Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the coronavirus outbreak’s affect on sports around the globe (all times EDT):1:20One of college basketball’s postseason invitational tournaments has been canceled.last_img read more