Stimulated by a properly designed carbon tax, the United States natural gas (NG) industry could produce and consume more NG than business as usual (BAU) while staying within the emission level goal of the 2015 United Nations Climate Change Conference (COP21) to avoid exceeding an average +2 °C global temperature rise. Explored are two options for the United States petroleum industry for lowering carbon emissions 80 % by 2050. One option examines voluntary reduction in emissions and the other uses a United States federal carbon tax to diminish coal usage and incentivize carbon capture and storage. Also examined are economic implications for the industry following BAU with an average global temperature rise of approximately 2 °C by 2050. By correlating drops in United States petroleum consumption and production with declines in global gross domestic product during the Great Recession of 2008 – 2009, projections are made for economic declines modeled by Burke et al. (2015) coinciding with BAU warming. Consumption of NG and oil in the United States suffered minor decreases from 2008 to 2009, but production levels did not. This indicates economic repercussions to United States petroleum caused by global warming are minor compared to the 80 % drop needed to meet the COP21 goal. It is unlikely the United States petroleum industry will suffer major economic losses following a BAU path, discounting the potential costs of disasters and international or political conflicts resulting from climate change. Because of the range of potentia...
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Round-ups are the summaries of handpicked papers around trending topics published every week. These would enable you to scan through a collection of papers and decide if the paper is relevant to you before actually investing time into reading it.
Coronavirus Research Articles published between Oct 11, 2021 to Oct 17, 2021
Oct 18, 2021
Articles Included: 3
Muhammad Ikbal and colleagues (2021) reported in ‘Visualisasi dan Analisa Data Penyebaran Covid-19 dengan Metode Klasifikasi Naïve Bayes’ that the cov...Read More
Climate change Research Articles published between Oct 11, 2021 to Oct 17, 2021
Oct 18, 2021
Articles Included: 5
Junjie Jia et al. (2021) reported in ‘Driving mechanisms of gross primary productivity geographical patterns for Qinghai–Tibet Plateau lake systems’ t...Read More