ENR 2155 EXAM 2

As a part of emissions trading schemes Voluntary programs

2 types of Carbon Offsets

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A barrel of oil is XX gallons

Cap and Trade

A gov't-mandated market-based approach to controlling pollution by providing economic incentives for achieving reductions in the emissions of pollutants. Indirect tax

Cap

A limit on the amount of a pollutant can be emitted

Carbon Tax

A price instrument because it fixes the prices while the emission level is allowed to vary according to economic activity.

RPS (Renewable Portfolio Standards)

A regulation that requires the increased production of energy from renewable energy sources such as wind, solar, biomass, and geothermal.

Subsidies

A sum of money granted by the gov't or a public body to assist an industry or business so that the price of a commodity or service my remain low or competitive

Carbon offsets

A unit of CO2-equivalent that is reduced, avoided, or sequestered to compensate for emissions occurring elsewhere

Feed-in-Tariffs

An arrangement whereby utilities agree to pay a fixed rate, generally above prevailing market rates, for energy from renewable sources

Keystone XL Pipeline

An oil pipeline running from Canada to the US

Allowances, credits

Companies or groups are required to hold a given number of these. Can be sold, bought, traded, between companies.

Buyer

Company that needs to increase their emission allowance from those who pollute less, paying a charge for polluting . (They buy credits/allowances)

Hydrocarbon

Compound of Hydrogen and carbon, such as any of those that are the chief components of petroleum and natural gas

Emissions Regulations

Direct tax, cap 'n trade, carbon offset permits

No, 27 states have passed RPS

Does the US have a federal cap & trade for GHG emissions?

Grid parity, guaranteed grid access, long term contracts for electricity

Examples of Feed-in-Tariffs

Grants, tax methods, trade restrictions, direct gov't investment

Examples of Subsidies

Clear air, clean water act

Existing legislation for Carbon Offsets

Public Policy

Generally made by gov't, interpreted/implemented by public and private actors, what the gov't intends to do

Disclosure Strategy

Getting strategic info into open public debate especially where the availability of direct citizen enforcement mechanisms can make info regarding threats actionable by members of the public.

To reduce emissions

Goal of emissions trading

Other groups can by credits and hold on to them

How can groups/companies drive up the price of credits?

Mining, mountaintop removal

How do we get coal out of the ground?

CO2 increase is almost directly related to the Industrial Revolution

How do we know that the increase in CO2 is caused by the burning of fossil fuels?

It is caused by the burning of fossil fuels and land clearing

How do we know the CO2 in the atmosphere is increasing?

19.4 Million

How many barrels of oil does the US consume per day?

94 million

How many barrels of oil does the world consume per day?

Upstream

Includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil and/or raw natural gas to the surface

Midstream

Involves the transportation, storage, and wholesale marketing of crude or refined petroleum producuts

Current Energy Policy

Large Scale Capital Intensive Largely Based on fossil fuels Oil, natural gas, coal, nuclear power Electricity generated by fossil fuels

Clean Energy Policy

Low Carbon Future Renewable Energy, conservation & efficiency Promote solar, wind, water, geothermal

Lower cap

Lowered over time, aim at national emissions reduction target

Who started recording the heightened levels of CO2 in the atmosphere?

Manua Loa Observatory, Charles Keeling, Hawaii

Shale Oil (Texas), Oil Shale (Estonia), Shale Gas (Eastern Ohio), Coalbed methane (New Mexico), Tar/Oil Sands (Canada)

Name the 5 Unconventionals

Cap and trade at the federal level

New Legislation for Carbon Offsets

Energy efficiency

Obtaining most energy from resources given

Distributed Power

Production and Transportation of power uses many systems

Renewable energy policy

Promote renewables Combat global climate change Low Carbon future

Short wave radiation

Radiant energy with wavelengths in the visible light, that contains a lot of energy

Downstream

Refining and marketing of crude or refined petroleum products

Enrichment

Removing the proper amount of U-235 from U-238

Ernest Moniz

Secretary of Energy

Micropower

Smaller, distributed systems for production of electricity

Retire credits

Sometime credits must be disposed every time a trade is made

EIA (Environmental Impact Assessment)

Systematic process to identify, predict and evaluate the environmental effects of proposed actions and projects

Peak Oil

The hypothetical point in time when the global production of oil reaches its maximum rate, after which production will gradually decline

EU-ETS (European Union Emissions Trading Scheme)

The largest active trading system for greenhouse gasses

Carbon Sequestration

The process of capturing CO2 and keeping it underground or in the deep ocean to prevent carbon emissions from adding to atmospheric greenhouse gasses

Radioactive Decay

The process whereby a radioactive nucleus emits one or more high-energy particles, thus turning into a different nuclear species

Centralized Power

The production and transportation of power is housed in a few large organizations

Half-life

The time it takes half the nuclei of a given radioactive substance to decay

Trade

The transfer of allowances

Seller

Those who pollute less, being awarded for this. (They sell excess credits/allowances)

Nuclear Storage

Typically in water filled pools

Gina McCarthy

USEPA Administrator

Command and Control Strategy

Use of regulation, direct, or indirect taxes

Energy conservation

Using less energy

Water Vapor (H2O), Carbon Dioxide (CO2), Methane (CH4), Nitrous Oxide (N2O), Ozone (O3), Chlorofluorocarbons (CFC's)

What are the 6 common greenhouse gasses

production of oil declined, even though hubberts theory was found wrong in later years

What did the US do in the 1970's oil production peaked?

Airbourne fraction, greenhouse gas spends more time in the atmosphere and gains energy. Provides insulation via greenhouse effect.

What happens to a greenhouse gas in the atmosphere?

The price after the peak will only increase

What happens when we reach peak oil?

They release CO2

What happens when you burn a fossil fuel?

Plants (Ferns)

What is coal made of?

Oil comes from tar sands. Getting oil out of tar sands is harmful to the environment

What is controversial about the Keystone XL Pipeline?

Plankton

What is most oil and gas made of?

Sandstone

What is the conventional reservoir rock for oil and gas?

Utica Shale

What is the shale gas/oil formation currently being produced in eastern Ohio?

Shale

What is the source rock for conventional oil and gas?

Shale Gas

What new unconventional has radically changed US oil production?

Making coal

What process is this? Plant matter transforms into peat through heat, bacterial decay, and time. Peat is buried under sedimentary rock and after much compaction, heat, and time, physical and chemical changes transform the peat into coal.

Gasoline, plastic, diesel, jet fuel, propane, lubricants, still gas, petroleum coke

What types of products are refined out of a barrel of oil?

Early Carboniferous Period. 300 million year ago.

When was the organic matter that became oil/gas/coal deposited (name and time)

US, France, Russia

Which countries produce the most nuclear power?

France

Which country uses nuclear for most of their electricity needs

Natural Gas

Which fossil fuels produce the least CO2 per unit of energy?

Coal

Which fossil fuels produce the most CO2 per unit of energy?

Hubbert in 1956

Who developed the idea of Peak Oil? What year?

Provides optimum percent of U-235 to be used in a nuclear reactor

Why do we need Uranium Enrichment

Undergoes fission at a slow rate, emits radiation. Lighter than Uranium 238

Why is Uranium 235 used in nuclear reactors?

Nuclear Radiation

high-energy particles produced in the decay of radioactive nuclei

Emission Permits

issued to companies or other groups

Long wave radiation

radiant energy with wavelengths in the infared light that contains less energy