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

Sevilla end Real Madrid’s unbeaten run

first_imgMADRID (AP):Sevilla grabbed two late goals to end Real Madrid’s 40-game unbeaten streak and move within one point of their rivals atop the Spanish league with the 2-1 win yesterday.Cristiano Ronaldo gave Madrid the lead by converting a penalty kick in the 67th minute, but Sevilla rallied with an own goal by Sergio Ramos in the 85th.Stevan Jovetic¥ scored the winner from outside the area two minutes into injury time at RamÛn S·nchez-Pizju·n Stadium in Seville.The result handed Madrid their first defeat since a 2-0 loss at Wolfsburg in April in the quarter-finals of the Champions League last season.Karim Benzema’s injury-time equaliser against Sevilla in the Copa del Rey match on Thursday had allowed Madrid to break the unbeaten Spanish record that they shared with Barcelona.Barcelona stayed third after beating Las Palmas 5-0 at Camp Nou on Saturday, while fourth-placed AtlÈtico edged Real Betis 1-0 at home for its third win in a row.Valencia finally won again by beating Espanyol 2-1 to end a three-month drought in the league and move further from the relegation zone.Martin Montoya scored from close range in the 17th minute and Santi Mina sealed the victory in the 73rd at Mestalla Stadium as Valencia snapped their eight-game winless streak to open a four-point gap to the relegation teams.David Lopez netted for Espanyol in the 85th, but Valencia held on to earn the elusive victory.”This result will give us a lot of confidence to keep on working,” Valencia coach Salvador ‘Voro’ Gonz·lez said: “To improve, we needed to win, and we are very happy.”BEST GAMEValencia hadn’t won in the league since a 2-1 result at Sporting Gijon in October, in what was the first match in charge for Cesare Prandelli, the former Italy coach who resigned during the winter break because of the team’s struggles.”I think it was our best game of the season,” Santi Mina said. “We have played well in some other games, but we didn’t pick up three points.”Serbian midfielder Nemanja Radoja scored an 89th-minute winner as Celta Vigo salvaged a 1-0 home win over 10-man Alaves.It was the second consecutive win for Celta, which moved to eighth place.Alaves, 12th in the table, played a man down from the first minute of the second half as Moroccan defender Zouhair Feddal was shown a second yellow card after a hard foul.last_img read more