Carbon Utilization to Meet California's Climate Change Goals

Burton, Elizabeth A.; Beyer, John; Bourcier, William L.; Mateer, Niall J.; Reed, John

doi:10.1016/j.egypro.2013.06.631

Cited by 4 publications

(6 citation statements)

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“…For robustness checks, we confirmed that other analytic wavelets from the generalized Morse wavelet family gave similar results 2. Recall that the phase angle φ x of the complex number W x can be obtained from the formula tan(φ x ) = (W x )/ (W x ), using the information on the signs of (W x ) and (W x ) to determine to which quadrant the angle belongs 3. As in the Fourier case, smoothing is necessary; otherwise the magnitude of coherence would be identically one.…”

supporting

confidence: 63%

“…where S denotes a smoothing operator in both time and scale. 3 For notational simplicity, we will denote by S yx the smoothed cross-wavelet transform of two series y and x and also use σ y and σ x to…”

Section: (C) Bivariate Wavelet Toolsmentioning

confidence: 99%

“…Previous work on carbon prices proliferated after 2008 and focused on the European Emission Trading Scheme (EU ETS). Studies of the Californian ETS were mostly concerned with market design features [1][2][3][4][5]. The exceptions are Bushnell [6] and Sousa & Aguiar-Conraria [7], who looked into the impact on daily electricity prices using vector autoregressions.…”

Section: Introductionmentioning

confidence: 99%

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California's carbon market and energy prices: a wavelet analysis

Aguiar‐Conraria

Soares

Sousa

2018

Phil. Trans. R. Soc. A.

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Carbon price is a key variable in management and risk decisions in activities related to the burning of fossil fuels. Different major players in this market, such as polluters, regulators and financial actors, have different time horizons. We use innovative multivariate wavelet analysis tools, including partial wavelet coherence and partial wavelet gain, to study the link between carbon prices and final energy prices in the time and frequency dimensions in California's carbon market, officially known as the California cap-and-trade programme. We find that gasoline prices lead an anti-phase relation with carbon prices. This result is very stable at lower frequencies (close to 1-year period cycles), and it is also present before mid-2015 in the 20-34 weeks frequency band. Regarding electricity, we find that at about a 1-year period, a rise in carbon prices is reflected in higher electricity prices. We conclude that the first 5 years of compliance of the California cap-and-trade programme show that emissions trading is a significant measure for climate change mitigation, with visible rising carbon prices. The quantitative financial analytics we present supports the recent decision to extend the current market to 2030 without the need for complementary carbon pricing schemes.This article is part of the theme issue 'Redundancy rules: the continuous wavelet transform comes of age'.

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supporting

confidence: 63%

Section: (C) Bivariate Wavelet Toolsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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California's carbon market and energy prices: a wavelet analysis

Aguiar‐Conraria

Soares

Sousa

2018

Phil. Trans. R. Soc. A.

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“…From reviewing current literatures, CGU technologies mainly include CO 2 enhanced crude oil recovery (CO 2 -EOR), CO 2 enhanced coal-bed methane (CO 2 -ECBM), CO 2 enhanced natural gas recovery (CO 2 -EGR), CO 2 enhanced water recovery (CO 2 -EWR, which is similar with CO 2 aquifer storage), CO 2 enhanced geothermal systems (CO 2 -EGS), CO 2 enhanced shale gas recovery (CO 2 -ESGR), CO 2 enhanced in situ uranium leaching (CO 2 -IUL), and other energy or resource underground. With technology development, changing policy and carbon tax of CGU technologies, more CO 2 geological utilization technologies will appear due to the diversity of underground resources [6].…”

Section: Identification Of Co 2 Geological Utilization Technologiesmentioning

confidence: 99%

Regional resource distribution of onshore carbon geological utilization in China

Fang

et al. 2015

Journal of CO2 Utilization

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“…The potential geological formations for CCUS include oil reservoirs, gas reservoirs, saline aquifers, shale formation, un-mineable coal seams, hot dry rock, uranium deposit formation, and natural gas hydrate reservoirs [191]. The corresponding CCUS technologies are CO 2 -enhanced oil recovery (CO 2 -EOR), CO 2 -enhanced gas recovery (CO 2 -EGR), CO 2 -enhanced water recovery (CO 2 -EWR), CO 2 -enhanced shale gas recovery (CO 2 -ESGR), CO 2 -enhanced coal bed methane recovery (CO 2 -ECBM), CO 2 -enhanced geothermal systems (CO 2 -EGS), CO 2 -enhanced in situ uranium leaching (CO 2 -IUL), and CH 4 -CO 2 replacement from natural gas hydrates, respectively [191,192].…”

Section: Enhanced Industrial Production With Co 2 Storagementioning

confidence: 99%

A Review of CO2 Storage in View of Safety and Cost-Effectiveness

et al. 2020

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The emissions of greenhouse gases, especially CO2, have been identified as the main contributor for global warming and climate change. Carbon capture and storage (CCS) is considered to be the most promising strategy to mitigate the anthropogenic CO2 emissions. This review aims to provide the latest developments of CO2 storage from the perspective of improving safety and economics. The mechanisms and strategies of CO2 storage, focusing on their characteristics and current status, are discussed firstly. In the second section, the strategies for assessing and ensuring the security of CO2 storage operations, including the risks assessment approach and monitoring technology associated with CO2 storage, are outlined. In addition, the engineering methods to accelerate CO2 dissolution and mineral carbonation for fixing the mobile CO2 are also compared within the second section. The third part focuses on the strategies for improving economics of CO2 storage operations, namely enhanced industrial production with CO2 storage to generate additional profit, and co-injection of CO2 with impurities to reduce the cost. Moreover, the role of multiple CCS technologies and their distribution on the mitigation of CO2 emissions in the future are summarized. This review demonstrates that CO2 storage in depleted oil and gas reservoirs could play an important role in reducing CO2 emission in the near future and CO2 storage in saline aquifers may make the biggest contribution due to its huge storage capacity. Comparing the various available strategies, CO2-enhanced oil recovery (CO2-EOR) operations are supposed to play the most important role for CO2 mitigation in the next few years, followed by CO2-enhanced gas recovery (CO2-EGR). The direct mineralization of flue gas by coal fly ash and the pH swing mineralization would be the most promising technology for the mineral sequestration of CO2. Furthermore, by accelerating the deployment of CCS projects on large scale, the government can also play its role in reducing the CO2 emissions.

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Carbon Utilization to Meet California's Climate Change Goals

Cited by 4 publications

References 0 publications

California's carbon market and energy prices: a wavelet analysis

California's carbon market and energy prices: a wavelet analysis

Regional resource distribution of onshore carbon geological utilization in China

A Review of CO2 Storage in View of Safety and Cost-Effectiveness

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