LONDON — Europe’s largest bank HSBC said on Friday it would mostly stop funding new coal power plants, oilsands and arctic drilling, becoming the latest in a long line of investors to shun the fossil fuels.
Other large banks such as ING and BNP Paribas have made similar pledges in recent months as investors have mounted pressure to make sure bank’s actions align with the Paris Agreement, a global pact to limit greenhouse gas emissions and curb rising temperatures.
“We recognize the need to reduce emissions rapidly to achieve the target set in the 2015 Paris Agreement… and our responsibility to support the communities in which we operate,” Daniel Klier, group head of strategy and global head of sustainable finance, said in a statement.
As a general rule I find that most North Americans are unaware that there is a growing movement of countries that are banning new sales of vehicles powered by gasoline or diesel and may also include other fuels such as propane, compressed and LNG (liquid natural gas).
The local news is rife with plans to grow our exploitation of natural resources and build more pipelines for anticipated expansion to new markets such as China. The federal government is in the process of colluding with the petroleum industry to force the construction of a dil-bit pipeline in a densely populated region of Greater Vancouver. Meanwhile our future markets are vanishing as other governments are phasing out fossil fuels and their engines.
Image #1: A rendering of the Silent Utility Rover Universal Superstructure (SURUS) platform with truck chassis.
SURUS was designed to form a foundation for a family of commercial vehicle solutions that leverages a single propulsion system integrated into a common chassis. (1)
Fuel cell technology is a key piece of GM’s zero-emission strategy.
General Motors’ Silent Utility Rover Universal Superstructure (SURUS) is an electric vehicle platform with autonomous capabilities powered by a flexible fuel cell. GM displayed it at the fall meeting of the Association of the United States Army, as the commercially designed platform could be adapted for military use.
SURUS leverages GM’s newest Hydrotec fuel cell system, autonomous capability and truck chassis components to deliver high-performance, zero-emission propulsion to minimize logistical burdens and reduce human exposure to harm. Benefits include quiet and odor-free operation, off-road mobility, field configuration, instantaneous high torque, exportable power generation, water generation and quick refueling times. (1)
Table 1. List of Countries Banning the ICE & Timeline (2)
At an automotive conference in Tianjin, China revealed it was developing plans towards banning fossil fuel-based cars. Though China has not set a 2040 goal like the U.K. and France, it said it was working with other regulators on a time-specific ban.
“The ministry has also started relevant research and will make such a timeline with relevant departments. Those measures will certainly bring profound changes for our car industry’s development,” Xin Guobin, the vice minister of industry and information technology, said.
Both India and Norway have also said they have electric car targets set for the next few decades. India, home to heavily polluted cities, said by 2030 it plans to have vehicles solely powered by electricity. (3)
I explain this worldwide movement to the electric vehicle and the impact this will have oil markets, however, most of whom I discuss this issue with are unaware of these vital facts. In addition we are seeing growing alternate forms of power sources for our electrical grid, such as solar, wind, tidal, hydro-electric, geothermal and others.
If you ran a business that called for a major investments in capital for infrastructure, would you make it knowing that your market is non-existent? Maybe it’s time for Canadians and Americans to wake up and smell the coffee.
Let’s get straight to the point. Canadians are getting ripped off. We pay the among the highest prices in the world for our own plentiful resources. Meanwhile we ship it to the US and abroad. This is in clear conflict with stewardship goals of our resources, environment and our collective future. What gives Mr. Trudeau?
Canada taxes its oil and gas companies at a fraction of the rate they are taxed abroad, including by countries ranked among the world’s most corrupt, according to an analysis of public data by the Guardian.
The low rate that oil companies pay in Canada represents billions of dollars in potential revenue lost, which an industry expert who looked at the data says is a worrying sign that the country may be “a kind of tax haven for our own companies.”
The countries where oil companies paid higher rates of taxes, royalties and fees per barrel in 2016 include Nigeria, Indonesia, Ivory Coast and the UK.
“I think it will come as a surprise to most Canadians, including a lot of politicians, that Canada is giving oil companies a cut-rate deal relative to other countries,” said Keith Stewart, an energy analyst with Greenpeace.
Companies like Chevron Canada paid almost three times as much to Nigeria and almost seven times as much to Indonesia as it did to Canadian, provincial and municipal governments.
Chevron used to run its Nigeria and Indonesia projects out of the U.S., but after allegations that they evaded billions in taxes, their operations were moved to Canada.
According to data collected by the Guardian, Suncor also paid six times more taxes to the UK, and Canadian Natural Resources Limited (CNRL) paid almost four times more to Ivory Coast. (1)
Figure 1. Taken from: Alberta First Nation presents evidence against Teck’s exploratory drilling for oil sands mine (2)
CALGARY – British Columbia’s government wants to restrict shipments of oilsands crude in pipelines and on railways cars in the province through a series of proposed new rules that is set to create additional uncertainty for Kinder Morgan Canada’s $7.4-billion Trans Mountain pipeline expansion.
The proposed rules also open B.C. up to jurisdictional challenges and have already exacerbated a spat with Alberta Premier Rachel Notley, who called the proposals “both illegal and unconstitutional.”
B.C. Environment and Climate Change Strategy Minister George Heyman announced Tuesday rules to limit “the increase of diluted bitumen transportation until the behaviour of spilled bitumen can be better understood and there is certainty regarding the ability to adequately mitigate spills.”
To that end, B.C. will establish an independent scientific advisory panel to make recommendations on if and how heavy oils can be safely transported and, if spilled, cleaned up.
Tuesday’s announcement did not specifically mention Kinder Morgan’s Trans Mountain expansion, which will boost the shipments of oil from Alberta to Burnaby, B.C. from 300,000 barrels per day to 890,000 bpd, but the B.C. NDP had promised to block the pipeline’s construction during an election campaign last year.In an interview with the Financial Post, Heyman said B.C.’s Environmental Management Act “gives us the right, in addition to our responsibility, to defend B.C.’s vulnerable coastline, our inland waterways, our economic and environmental interests and that’s what British Columbians expect us to do.” (3)
“[…] According to Paulo Emilio, this is the most efficient hydrogen bus in the world. “A European company tested a hydrogen bus in ten cities, which consumed 25 kilos of hydrogen for each 100 kilometers; this month, the same company launched an improved version, with 14 kilos of hydrogen consumed for each 100 kilometers” where as “our bus consumes just 5 kilos of hydrogen”, he says. […]”
Hurricanes Cause Massive Damage
In light of recent events, such as the current hurricane season of 2017 which has already struck large sections of Texas with Hurricane Harvey causing massive damage which has been estimated at $180 billion by Texas Governor Greg Abbott (1) there are questions about how we can prepare cities better for disaster. One method considered is in our building codes, which are constantly being upgraded and improved, by constructing buildings to be more resilient and handle harsher conditions.
There is a limit to what a building code can do and enforce. Areas and regions that have seen widespread destruction, will have to be rebuilt. However, to what standards? The existing building codes will have to be examined for their efficacy in storm-proofing buildings to withstand the effects of high winds and water penetration, some of which has already been performed.
Codes do not prevent external disasters such as from storms, tornadoes, tidal waves (tsunami), earthquakes, forest fire, lightning, landslides, nuclear melt-down and other extreme natural and man-made events. What building codes do is establish minimum standards of construction for various types of buildings and structures. Damage to buildings, vehicles, roads, power systems and other components of a city’s infrastructure are vulnerable to flooding which cannot be addressed in a building code. Other standards are needed to address this problem.
Other issues arise regarding flooding, and how water can be better managed in the future to mitigate water collection and drainage. These may require higher levels of involvement across a community and perhaps beyond municipal constraints, requiring state-wide developments. Breakwaters, sea walls, levees, spill ways and other forms of structures may be added to emergency pumping stations and micro-grid generator/storage facilities as examples of infrastructure improvements that could be utilized.
Bigger decisions may have to be considered as to the level of reconstruction of buildings in vulnerable areas. Sea warming as noted occurring has some scientists pondering if there is a connection between global warming and increased storm volatility as indicated by water temperature rises and tidal records (2). If bigger and more frequent storms are to come, then it must be considered in future building and infrastructure planning.
Regional Infrastructure and Resiliency
Exposed regions as well as larger, regional concerns in areas of maintaining power, roadways, and diverting and draining water are major in the resiliency of a community. When a social network breaks down, there is much lost, and recovery of a region can be adversely affected by loss of property and work.
Many of the lower classes will not have insurance and lose everything. Sick and elderly can be especially exposed, not having means to prepare or escape an oncoming disaster, and many will likely perish unless they can get access to aide or a shelter quickly.
Constructing better sea walls and storm surge barriers may be an effective means to diverting water in the event of a hurricane on densely populated coastal areas. Although considered costly to construct, they are a fraction of the cost of damage that may be caused by a high, forceful storm surge which can obliterate large unprotected populated areas. The Netherlands and England have made major advancements in coastal preparedness for storms.
Storm Surge Barriers
Overall Effectiveness for Reducing Flood Damage
There are only a few storm surge barriers in the United States, although major systems installed abroad demonstrate their efficacy. The Eastern Scheldt barrier in the Netherlands (completed in 1986) and the Thames barrier in the United Kingdom (completed in 1982) have prevented major flooding. Lavery and Donovan (2005) note that the Thames barrier, part of a flood risk reduction system of barriers, floodgates, floodwalls, and embankments, has reliably protected the City of London from North Sea storm surge since its completion.
Four storm surge barriers were constructed by the USACE in New England in the 1960s (Fox Point, Stamford, New Bedford, and Pawcatuck) and a fifth in 1986 in New London, Connecticut. The barriers were designed after a series of severe hurricanes struck New England in 1938, 1944, and 1954 (see Appendix B), which highlighted the vulnerability of the area. The 1938 hurricane damaged or destroyed 200,000 buildings and caused 600 fatalities (Morang, 2007; Pielke et al., 2008).
The 2,880-ft (878-m) Fox Point Barrier (Figure 1-8) stretches across
the Providence River, protecting downtown Providence, Rhode Island. The barrier successfully prevented a 2-ft (0.6-m) surge elevation (in excess of tide elevation) from Hurricane Gloria in 1985 and a 4-ft (1.2-m) surge from Hurricane Bob in 1991 (Morang, 2007) and was also used during Hurricane Sandy. The New Bedford, Massachusetts, Hurricane Barrier consists of a 4,500-ft-long (1372-m) earthen levee with a stone cap to an elevation of 20 ft (6 m), with a 150-ft-wide (46-m) gate for navigation. The barrier was reportedly effective during Hurricane Bob (1991), an unnamed coastal storm in 1997 (Morang, 2007), and Hurricane Sandy. During Hurricane Sandy, the peak total height of water (tide plus storm surge) was 6.8 feet (2.1 m), similar to the levels reached in 1991 and 1997. The Stamford, Connecticut, Hurricane Barrier has experienced six storms producing a surge of 9.0 ft (2.7 m) or higher between its completion (1969) and Hurricane Sandy. During Hurricane Sandy, the barrier experienced a storm surge of 11.1 ft (3.4 m), exceeding that of the 1938 hurricane (USACE, 2012). (3)
The biggest challenge is to build storm surge barriers large enough for future Hurricanes. There is a question that given the magnitude of current and future storms that these constructed barriers may be breached. Engineers design structures to meet certain standards, and with weather these were the unlikely 1 in 100 year storm events. However, this standard is not good enough as Hurricane Katrina in Louisiana exemplified, as being rated a 1 in 250 year storm event. With climate changes these events may become more frequent.
Much of the damage from Katrina came not from high winds or rain but from storm surge that caused breaches in levees and floodwalls, pouring water into 80 percent of New Orleans. To the south, Katrina flooded all of St. Bernard Parish and the east bank of Plaquemines Parish. Plaquemines Parish flooded again in 2012 with Hurricane Isaac.
Soon after Katrina, Congress directed the Corps of Engineers to build a system that could protect against a storm that has a 1 percent chance of happening each year, a “1-in-100-year” storm.
The standard is less a measure of safety and more a benchmark that allows the city to be covered by the National Flood Insurance Program. Louisiana’s master coastal plan calls for a much stronger 500-year system. The corps says Katrina was a 250-year storm for the New Orleans area.
Since 2005, the Army Corps has revamped the storm protection system’s 350 miles of levees and floodwalls, 73 pumping stations, three canal-closure structures, and four gated outlets. The corps built a much-heralded 26-foot-high, 1.8-mile surge barrier in Lake Borgne, about 12 miles east of the center of the city.
During Katrina, a 15- to 16-foot-high storm surge in Lake Borgne forced its way into the Intracoastal Waterway, putting pressure on the Industrial Canal levees that breached and caused catastrophic flooding in the city’s Lower 9th Ward.
“In New Orleans, we know that no matter how high we build this or how wide we build it, eventually there will be a storm that’s able to overtop it,” New Orleans District Army Corps spokesman Ricky Boyett says, admiring the immense surge barrier from a boat on Lake Borgne. “What we want is this to be a strong structure that will be able to withstand that with limited to no damage from the overtopping.” (4)
500 Year Floods
Hurricane Harvey brought an immense amount of extreme rain, which brought a record 64″ in one storm to the Houston metropolitan region. This is a staggering amount of water, over 5 feet in height, this amount of water could only overwhelm low-lying areas, and depressions in topography. Flash floods can happen during extreme storms, where a drainage system is designed for a 1:100 year flood event, and not for a 1:500 or 1:1000 year flood event. Road ways can easily become rivers as drainage systems back up and surface water has no place to collect.
Figure 1. 500 year flood events in the USA since 2015 (5)
New standards in development may need to accommodate more stringent standards. Existing municipal drainage systems are not designed to handle extreme rain and other means of drainage systems may have to be developed to divert water away from centers of population. Communities will be built to new standards, where storm water management is given a higher priority to avert flooding.
Figure 2. Floodwaters from Tropical Storm Harvey (6)
Given the future uncertainty of our climate and weather, we cannot continue to ignore the devastating effects that disasters have on cities and regions. We must ask some difficult questions regarding the intelligence of continuing to build and live in increasingly higher risk regions.
On a personal level every citizen must take some responsibility in their choices of where to live. As for governments they need to decide how best to allocate limited resources in rebuilding and upgrading storm protection systems. It is anticipated that some areas will be abandoned as risks become too high for effective protection from future storm events.
The Oil and Gas Industry
It seems there is an irony involved with the possibility that storms severity is linked to global warming, and that access to vulnerable regions often are in part economically driven by the oil and gas industry. Hurricane Harvey is the most recent storm which is affecting fuel prices across the USA. Refinery capacity has shrunk due to plant shut-downs. Shortages in local fuel supplies are occurring, as remaining gasoline stations run dry.
Goldman Sachs estimates that the hurricane has taken 3 million barrels a day — or about 17% — of refining capacity offline, and that’s likely to increase the overall level of crude-oil inventories over the next couple of months. (7)
Oil and gas are particularly vulnerable to exposure to the weather, and it is in their own best interests to provide local protection to the area so that they can continue extracting the resource. However, ancillary industries such as refining may better be served by relocation away from danger areas. Also, supply lines become choked by disaster, and can potentially have consequences beyond the region which was exposed to the disaster.
The Electric Vehicle in the Smart City
Such events can only put upward pressure on the price of fuel, while providing further incentive to move away from the internal combustion engine as means of motive power. Electric vehicles would provide a much better ability to recover quickly from storm events as they are not restricted by access to fuel. Micro-grids in cities provide sectors of available power for which electric emergency response vehicles can move.
By moving reliance away from carbon based fuels to renewable electric sources and energy storage, future development in cities may see the benefits inherent in the electric vehicle. Burning fuels create heat, water and carbon dioxide in the combustion process. They consume our breathable oxygen and pollute the atmosphere. Pipelines, tankers and rail cars can break and spill causing pollution. Exploration causes damage to the environment.
A city that is energy efficient and reliant on renewable sources of energy that benignly interact with the environment can approach self-sustainability and a high degree of resilience against disaster. This combined with designing to much higher standards which keep in mind the current volatility our climate is experiencing, and uses the lessons learned in other areas as indicators of best practices into the future.
- Hurricane Harvey Damages Could Cost up to $180 Billion
- Global warming is ‘causing more hurricanes’
- “3 Performance of Coastal Risk Reduction Strategies.” National Research Council. 2014. Reducing Coastal Risk on the East and Gulf Coasts. Washington, DC: The National Academies Press. doi: 10.17226/18811.
- Rising Sea Levels May Limit New Orleans Adaptation Efforts
- Houston is experiencing its third ‘500-year’ flood in 3 years. How is that possible?
- Hurricane Harvey Slams Texas With Devastating Force
- GOLDMAN: Harvey’s damage to America’s oil industry could last several months
“In terms of assessing trends in globally-averaged surface air temperature as a metric to diagnose the radiative equilibrium of the Earth, the neglect of using moist enthalpy, therefore, necessarily produces an inaccurate metric, since the water vapor content of the surface air will generally have different temporal variability and trends than the air temperature.”
In our blog of July 11, we introduced the concept of moist enthalpy (see also Pielke, R.A. Sr., C. Davey, and J. Morgan, 2004: Assessing “global warming” with surface heat content. Eos, 85, No. 21, 210-211. ). This is an important climate change metric, since it illustrates why surface air temperature alone is inadequate to monitor trends of surface heating and cooling. Heat is measured in units of Joules. Degrees Celsius is an incomplete metric of heat.
Surface air moist enthalpy does capture the proper measure of heat. It is defined as CpT + Lq where Cp is the heat capacity of air at constant pressure, T is air temperature, L is the latent heat of phase change of water vapor, and q is the specific humidity of air. T is what we measure with a thermometer, while q is derived by measuring the wet bulb temperature (or, alternatively, dewpoint…
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On the face of it, Shipping is the most efficient of freight transport modes. Intermodal shipping containers kick-started rapid growth in trade globalisation 60 years ago, and container ships, tankers and bulk carriers have been getting bigger ever since. Carrying more freight with less fuel on a tonne-mile basis, shipping has the highest energy productivity of all transport modes.
Yet looks can be deceiving. While international shipping contributes 2.4% of global greenhouse gas emissions, business-as-usual could see this explode to a whopping 18% by 2050. As trade growth increases demand, today’s fleet burns the dirtiest transport fuels, and a new report shows the market doesn’t reward ship owners who invest in the latest fuel- and carbon-efficient technologies.
When you consider the scale of the sector’s emission reductions that need to start now to contribute to the COP 21 Paris Agreement target of 1.5°C to 2°C global warming, there’s clearly an…
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Is Climate Change an Urban Legend?
By Willis Eschenbach – Re-Blogged From http://www.WattsUpWithThat.com
So we were sitting around the fire at the fish camp on the Colombia a few days ago, and a man said “Did you hear about the scientific study into meat preservatives?” We admitted our ignorance, and he started in. The story was like this:
“A few years ago there was a study done by some University, I can’t remember which one, but it was a major one. What they did was to examine the corpses of people who had died in Siberia, and those that had died in Washington State. Now of course the people in Siberia weren’t eating meat preservatives during their lives, and the Washington people were eating them. And when they dug up the graves and looked at the bodies, guess what they found?”
Urban Legend: The Killer In The Back Seat SOURCE
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Image Source: Power Plant Men
Coal leads surge in European energy exchange trading in first half 2016 -study
Wholesale trading of coal on the exchanges soared 46 percent from a year earlier to 3.5 billion tonnes
FRANKFURT: Coal lead a surge in trading volumes on west European energy exchanges in the first half of this year as traders took advantage of low commodity prices, research company Prospex said on Monday.
Wholesale trading of coal on the exchanges soared 46 percent from a year earlier to 3.5 billion tonnes, according to Prospex.
“Low coal prices mean a fixed amount of trading capital will buy higher volumes than it did in the past,” said Prospex Research director Ben Tait.
“In fact, many traders seeking to hit absolute profit targets have indeed ramped up volumes,” he said.
Prospex’s data covers volumes on what traders call the paper market, where two parties agree deals in the over-the-counter (OTC) market and have them cleared by an exchange.
In coal, this type of business accounts for 98 percent of volumes changing hands in Europe.
Prospex said commodity trading houses remain keen on coal, with some holding extensive physical coal interests that play out on the dominant Amsterdam-Rotterdam-Antwerp (ARA) region of ports that serve Europe’s power stations and steelmakers with raw material. Read more: Full Article
In the beginning, the Master Economist created the Economy. He created businesses large and small, consumers, governments with their regulation, and financial institutions of all types. And the Ma…
Source: How Energy Shapes the Economy