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Coal Policy and Energy Economics

Richard L. Gordon

Year: 1980
Volume: Volume 1
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol1-No1-8
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Abstract:
With the flurry of legislation in 1977 further inhibiting coal consumption and production, it became apparent to many observers that coal had joined oil, gas, and nuclear energy as a tightly regulated industry. Since by now this observation has been widely dissemi-nated, it seems most appropriate here only to summarize the nature of the barriers and their obvious implications. Then emphasis can be placed on the perspectives that economic analyses can provide for evaluating the issues.



Comments on Coal Liquefaction

L.E. Swabb, Jr.

Year: 1980
Volume: Volume 1
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol1-No1-10
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Abstract:
Dr. Hill has given an excellent, comprehensive review of the various coal liquefaction development programs that are now in progress. In view of the limited time, I would like to comment on just one subject-the economics of coal liquefaction and the impact of the economic basis on product cost. This would appear appro-priate to the interests of this audience, as well as an important consideration when evaluating costs quoted by various sources.My comments are based on a commercial plant study design for the Exxon Donor Solvent (EDS) process made in 1975-1976 and published in an EDS project report in January 1978. This study design is now being updated, and the new coal liquids costs are probably going to change. However, the old data will serve toillustrate the point I wish to make.



The U.S. Outlook for Supplemental Gas

Arlon R. Tussing

Year: 1980
Volume: Volume 1
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol1-No1-7
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Abstract:
Current forecasts of natural gas demand in the United States through the turn of the century are lower than projections made only a few years ago, and fall far short of the volumes the economy is technically capable of absorbing even with its existing stock of energy-using equipment.



Technological Options for Power Generation

Ulf Hansen

Year: 1998
Volume: Volume19
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol19-No2-4
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Abstract:
The demand for electricity is expected to double from 1990 to 2020. This will require 4000 GW of new capacity to be constructed worldwide, both as additions and replacements. Technical progress has made new conventional power plants more efficient and environment friendly than existing ones, and they can be built quicker and cheaper. Fossil fuels already form the basis for two thirds of all electricity and their importance will continue to grow, both as gasfired combined cycle and as coal-fired steam cycle. The technical choice depends on a wide array of considerations, including financial engineering. In liberalised electricity markets with global sourcing the emphasis is on minimum costs and cash-flow. Independent project developers currently fund 30% of all new generating capacity investments and the share is growing. The expanding role of fossil fuels runs counter to policies to reduce the emission of greenhouse gases. To reverse the trend would require strong support for renewables and acceptance of nuclear power.



Carbon Capture and Storage Technologies in the European Power Market

Rolf Golombek, Mads Greaker, Sverre A.C. Kittelsen, Ole Røgeberg, and Finn Roar Aune

Year: 2011
Volume: Volume 32
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol32-No3-8
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Abstract:
We examine the potential of Carbon Capture and Storage (CCS) technologies in the European electricity markets, assessing whether CCS technologies will reduce carbon emissions substantially in the absence of investment subsidies, and how the availability of CCS technologies may affect electricity prices and the amount of renewable electricity. To this end we augment a multi-market equilibrium model of the European energy markets with CCS electricity technologies. The CCS technologies are characterized by costs and technical efficiencies synthesized from a number of recent CCS reviews. Our simulations indicate that with realistic values for carbon prices, new CCS coal power plants become profitable, totally replacing non-CCS coal power investments and to a large extent replacing new wind power. New CCS gas power also becomes profitable, but does not replace non-CCS gas power investment fully. Substantially lower costs, through subsidies on technological development or deployment, would be necessary to make CCS modification of existing coal and gas power plants profitable for private investors. doi: 10.5547/ISSN0195-6574-EJ-Vol32-No3-8



Voluntary Programs to Encourage Diffusion: The Case of the Combined Heat-and-Power Partnership

Andreas Ferrara and Ian Lange

Year: 2014
Volume: Volume 35
Number: Number 1
DOI: 10.5547/01956574.35.1.9
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Abstract:
In the last decade, voluntary environmental programs have increased considerably in number and scope. A novel use of these programs is to diffuse new technology in industry as means to improving their environmental outcomes. This paper tests whether the U.S. Environmental Protection Agency's Combined Heat-and-Power (CHP) Partnership has encouraged the diffusion of CHP systems. Using a nearest neighbor matching estimator with electricity plant data and conditional logit estimation for electricity and manufacturing plants in the U.S., we find evidence that the program has helped CHP systems spread, controlling for the selection of firms into the partnership. On average partner firms have a 3% higher probability of installing CHP.



Fossil Fuel Price Shocks and CO2 Emissions: The Case of Spain

Jorge Blazquez, Jose Maria Martin-Moreno, Rafaela Perez, and Jesus Ruiz

Year: 2017
Volume: Volume 38
Number: Number 6
DOI: 10.5547/01956574.38.6.jmar
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Abstract:
This paper focuses on the impact of oil, natural gas and coal price shocks on the Spanish business cycle from 1969 to 2013. It uses Bayesian procedures to estimate a Dynamic Stochastic General Equilibrium (DSGE) model for a small open economy. The paper shows that natural gas and coal shocks are relevant sources of macroeconomic disruption in addition to oil price shocks. The three fossil fuel prices have an impact on the economic activity and explain the evolution of the energy mix. However, we find that oil price shocks have a significantly larger impact on economic volatility. Finally, we assess the impact of hydrocarbon price shocks on carbon emissions given that different price shocks result in a different fossil fuel mix and, thus, in different CO2 emissions.



Comparing Renewable Energy Policies in EU-15, U.S. and China: A Bayesian DSGE Model

Amedeo Argentiero, Tarek Atalla, Simona Bigerna, Silvia Micheli, and Paolo Polinori

Year: 2017
Volume: Volume 38
Number: KAPSARC Special Issue
DOI: 10.5547/01956574.38.SI1.aarg
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Abstract:
The promotion of renewable energy sources (RES) by governments is one way of helping countries to meet their energy needs while lowering greenhouse gas emissions. In this paper, we examine the role of energy policy in RES promotion, based on a carbon tax and RES price subsidy, at a time of technological and demand shocks in the European Union (E.U.) 15 countries, the United States (U.S.) and China, focusing on the macroeconomic implications. Using a dynamic stochastic general equilibrium model for RES and fossil fuels, our results suggest that, in the presence of a total factor productivity shock in the fossil fuel sector, such an energy policy can also be a driving force for smoothing the reduction of RES in the energy market (and vice versa). Additionally, we show that the E.U.15 grouping has a comparative advantage in terms of reaching grid parity compared with the other countries we considered which are more fossil fuel dependent.



The Environmental Cost of Global Fuel Subsidies

Lucas W. Davis

Year: 2017
Volume: Volume 38
Number: KAPSARC Special Issue
DOI: 10.5547/01956574.38.SI1.ldav
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