Each week, we review the papers, studies, reports, and briefings posted at the “indispensable” RFF Library Blog, curated by RFF Librarian Chris Clotworthy.
Lord Stern’s New Paper on Carbon Pricing
[Abstract] ‘To slow or not to slow’ (Nordhaus, 1991) was the first economic appraisal of greenhouse gas emissions abatement and founded a large literature on a topic of great, worldwide importance. In this paper we offer our assessment of the original article and trace its legacy, in particular Nordhaus’ later series of ‘DICE’ models. From this work many have drawn the conclusion that an efficient global emissions abatement policy comprises modest and modestly increasing controls. On the contrary, we use DICE itself to provide an initial illustration that, if the analysis is extended to take more strongly into account three essential elements of the climate problem – the endogeneity of growth, the convexity of damages, and climate risk – optimal policy comprises strong controls. To focus on these features and facilitate comparison with Nordhaus’ work, all of the analysis is conducted with a high pure-time discount rate, notwithstanding its problematic ethical foundations... — via London School of Economics
Comparative Life Cycle Assessment of 2.0 MW Wind Turbines
Wind turbines produce energy with virtually no emissions, however, there are environmental impacts associated with their manufacture, installation, and end of life. The work presented examines life cycle environmental impacts of two 2.0 MW wind turbines. Manufacturing, transport, installation, maintenance, and end of life have been considered for both models and are compared using the ReCiPe 2008 impact assessment method. In addition, energy payback analysis was conducted based on the cumulative energy demand and the energy produced by the wind turbines over 20 years. Life cycle assessment revealed that environmental impacts are concentrated in the manufacturing stage, which accounts for 78% of impacts. The energy payback period for the two turbine models are found to be 5.2 and 6.4 months, respectively. Based on the assumptions made, the results of this study can be used to conduct an environmental analysis of a representative wind park to be located in the US Pacific Northwest... — via International Journal of Sustainable Manufacturing
…A new analysis finds a correlation between certain public safety standards and permits to frack for natural gas in counties over the Utica shale formation. The report from FracTracker looked at road safety and crime rates in the 14 counties with the most Utica permits issued between 2009 and 2014. According to report author Ted Auch, they found the rates changed faster in those counties than in the rest of the state. “Crashes and commercial vehicle enforcement are increasing by about 6.9% and 8.9% per year across these counties,” Auch said. “At the state level they’re increasing by 6 and 2.8% respectively...” — via FracTracker Alliance
[From an Energy Wire article by Nathaniel Gronewold, sub. req'd] … people living in the counties hosting the most Marcellus [Shale] drilling activity report roughly equal amounts of familiarity and unfamiliarity with the process of hydraulic fracturing [according to researchers at Pennsylvania State University and Texas A&M]. There is also relatively little understanding of what happens to the huge volumes of water used in the process, or what could happen to it. Respondents to a social survey also listed the oil and gas industry as among the least-trusted sources of information on hydraulic fracturing and frack flowback water treatment. However, the controversial film “Gasland” ranked dead last in terms of trustworthiness and as a source of information on shale gas extraction in the Marcellus… — via Energy Research and Social Science
Regulatory Uncertainty is a Drag on US Shale Gas Boom: Goldman Sachs Report
[From a Energy Wire article by Saqib Rahim, sub. req'd] …The investment profile of the shale gale is changing, Goldman said. Drilling investments can recoup themselves in a year, but choices about power plants, cars and factories have to look out several decades. But investors are frozen by policy uncertainties, Goldman said. How will hydraulic fracturing be regulated for the long haul — and how might that limit the gas supply? Will the United States export its shale bounty, or consume the lion’s share at home? And how will the environmental impact be weighed? Answering these questions for the marketplace will introduce billions of dollars in investment, the report said. Ignoring them will risk letting other countries, like China, seize the opportunities when they develop shale… — via Goldman Sachs Group Inc.
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