Copper marketing with forward and futures contracts: state-owned and private Chilean firms during the 1990s

The use of futures in copper marketing became common during the 1990s, but little attention has been put on the reasons for it and its relationship with other elements of marketing such as forward sales and premiums. This study focuses on these issues and the benefit of futures relative to annual forward contracts. It argues futures complement annual forward contracts to secure the average market price rather than to maximize revenue. The paper analyzes empirical evidence for the six largest Chilean copper producers. This sample reflects well the entire Chilean industry during the 1990s. The analysis shows that forward sales became more volatile and futures seem to be the instrument to avoid income fluctuation at the end of the marketing process. However, the benefits of futures compared to forward sales are very modest. In the last section we suggest a better marketing instrument to maximize revenue may be premiums.     

Ecological impacts of early 21st century agricultural change in Europe – A review

The impacts of agricultural land use are far-reaching and extend to areas outside production. This paper provides an overview of the ecological status of agricultural systems across the European Union in the light of recent policy changes. It builds on the previous review of 2001 devoted to the impacts of agricultural intensification in Western Europe. The focus countries are the UK, The Netherlands, Boreal and Baltic countries, Portugal, Hungary and Romania, representing a geographical spread across Europe, but additional reference is made to other countries. Despite many adjustments to agricultural policy, intensification of production in some regions and concurrent abandonment in others remain the major threat to the ecology of agro-ecosystems impairing the state of soil, water and air and reducing biological diversity in agricultural landscapes. The impacts also extend to surrounding terrestrial and aquatic systems through water and aerial contamination and development of agricultural infrastructures (e.g. dams and irrigation channels). Improvements are also documented regionally, such as successful support of farmland species, and improved condition of watercourses and landscapes. This was attributed to agricultural policy targeted at the environment, improved environmental legislation, and new market opportunities. Research into ecosystem services associated with agriculture may provide further pressure to develop policy that is targeted at their continuous provisioning, fostering motivation of land managers to continue to protect and enhance them.     

The integrated project AquaTerra of the EU sixth framework lays foundations for better understanding of river-sediment-soil-groundwater systems

The integrated project "AquaTerra" with the full title "integrated modeling of the river-sediment-soil-groundwater system; advanced tools for the management of catchment areas and river basins in the context of global change" is among the first environmental projects within the sixth Framework Program of the European Union. Commencing in June 2004, it brought together a multidisciplinary team of 45 partner organizations from 12 EU countries, Romania, Switzerland, Serbia and Montenegro. AquaTerra is an ambitious project with the primary objective of laying the foundations for a better understanding of the behavior of environmental pollutants and their fluxes in the soil-sediment-water system with respect to climate and land use changes. The project performs research as well as modeling on river-sediment-soil-groundwater systems through quantification of deposition, sorption and turnover rates and the development of numerical models to reveal fluxes and trends in soil and sediment functioning. Scales ranging from the laboratory to river basins are addressed with the potential to provide improved river basin management, enhanced soil and groundwater monitoring as well as the early identification and forecasting of impacts on water quantity and quality. Study areas are the catchments of the Ebro, Meuse, Elbe and Danube Rivers and the Brévilles Spring. Here we outline the general structure of the project and the activities conducted within eleven existing sub-projects of AquaTerra.     

Identification of river water quality using the fuzzy synthetic evaluation approach.

Proper identification of water quality conditions in a river system based on limited observations is an essential task for meeting the goals of environmental management. Various classification methods have been used for estimating the changing status and usability of surface water in river basins. However, a discrepancy frequently arises from the lack of a clear distinction between each water utilisation mode, the uncertainty in the quality criteria employed and the vagueness or fuzziness embedded in the decision-making output values. Owing to inherent imprecision, difficulties always exist in some conventional methodologies when describing integrated water quality conditions with respect to various chemical constituents, biological aspects, nutrients, and aesthetic qualities. This paper presents a comparative study using three fuzzy synthetic evaluation techniques to assess water quality conditions in comparison to the outputs generated by conventional procedures such as the Water Quality Index (WQI). Based on a set of data collected at seven sampling stations, a case study for the Tseng-Wen River system in Taiwan was used to demonstrate their application potential. The findings clearly indicate that the techniques may successfully harmonise inherent discrepancies and interpret complex conditions. A further, newly developed fuzzy synthetic evaluation approach described in this paper might also be useful for verifying water quality conditions for the Total Maximum Daily Load (TMDL) program and be helpful for constructing an effective water quality management strategy.     

The consequences of failure should be considered in siting geologic carbon sequestration projects

Geologic carbon sequestration is the injection of anthropogenic CO₂ into deep geologic formations where the CO₂ is intended to remain indefinitely. If successfully implemented, geologic carbon sequestration will have little or no impact on terrestrial ecosystems aside from the mitigation of climate change. However, failure of a geologic carbon sequestration site, such as large-scale leakage of CO₂ into a potable groundwater aquifer, could cause impacts that would require costly remediation measures. Governments are attempting to develop regulations for permitting geologic carbon sequestration sites to ensure their safety and effectiveness. At present, these regulations focus largely on decreasing the probability of failure. In this paper we propose that regulations for the siting of early geologic carbon sequestration projects should emphasize limiting the consequences of failure because consequences are easier to quantify than failure probability.     

Real-time, high-resolution quantitative measurement of multiple soil gas emissions: selected ion flow tube mass spectrometry

A new technique is presented for the rapid, high-resolution identification and quantification of multiple trace gases above soils, at concentrations down to 0.01 microL L(-1) (10 ppb). The technique, selected ion flow tube mass spectrometry (SIFT-MS), utilizes chemical ionization reagent ions that react with trace gases but not with the major air components (N2, O2, Ar, CO2). This allows the real-time measurement of multiple trace gases without the need for preconcentration, trapping, or chromatographic separation. The technique is demonstrated by monitoring the emission of ammonia and nitric oxide, and the search for volatile organics, above containerized soil samples treated with synthetic cattle urine. In this model system, NH3 emissions peaked after 24 h at 2000 nmol m(-2) s(-1) and integrated to approximately 7% of the urea N applied, while NO emissions peaked about 25 d after urine addition at approximately 140 nmol m(-2) s(-1) and integrated to approximately 10% of the applied urea N. The monitoring of organics along with NH3 and NO was demonstrated in soils treated with synthetic urine, pyridine, and dimethylamine. No emission of volatile nitrogen organics from the urine treatments was observed at levels >0.01% of the applied nitrogen. The SIFT method allows the simultaneous in situ measurement of multiple gas components with a high spatial resolution of < 10 cm and time resolution <20 s. These capabilities allow, for example, identification of emission hotspots, and measurement of localized and rapid variations above agricultural and contaminated soils, as well as integrated emissions over longer periods.     

Characteristic levels of heavy metals in sediments and dredged sediments of a municipal creek in the Niger delta, Nigeria

Characteristic levels of metal ions in post dredged sediment and dredged sediments materials of a municipal creek in the Niger Delta show that significant concentrations of heavy metals are found to be accumulated more on the surface (0–15cm depth) of the dredged material as compared to the sub surface (15–30cm) and post dredged sediments. The distribution patterns were in the following order Fe > Mn > Zn > Cu > Pb > Ni > Cd and Fe > Mn > Zn > Pb > Cu > Ni > Cd for the post dredged sediment and dredged sediment materials respectively. The levels of the various metals were far below the EPA screening levels for open water disposal, consequently total levels of heavy metal found in these sediments pose no problem by open-water or upland disposal