Geological CO2 Storage as a Climate Change Mitigation Option

Carbon dioxide (CO₂₎ capture and storage is increasingly being considered as an important climate change mitigation option. This paper explores provisions for including geological CO₂ storage in climate policy. The storage capacity of Norway's Continental Shelf is alone sufficient to store a large share of European CO₂ emissions for many decades. If CO₂ is injected into oil reservoirs there is an additional benefit in terms of enhanced oil recovery. However, there are significant technical and economic challenges, including the large investment in infrastructure required, with related economies of scale properties. Thus CO₂ capture, transportation and storage projects are likely to be more economically attractive if developed on a large scale, which could mean involving two or more nations. An additional challenge is the risk of future leakages from storage sites, where the government must take on a major responsibility. In institutional and policy terms, important challenges are the unsettled status of geological CO₂ storage as a policy measure in the Kyoto Protocol, lack of relevant reporting and verification procedures, and lack of decisions on how the option should be linked to the flexibility mechanisms under the Kyoto Protocol. In terms of competitiveness with expected prices for CO₂ permits under Kyoto Protocol trading, the relatively high costs per tonne of CO₂ stored means that geological CO₂ storage is primarily of interest where enhanced oil recovery is possible. These shortcomings and uncertainties mean that companies and governments today only have weak incentives to venture into geological CO₂ storage.     

汽油清净剂的研究应用及进展

随着环保要求的日趋严格及汽车工业的发展创新，开展汽油清净剂的研究和应用工作已势在必行。本文介绍了国内外汽油清净剂的发展过程、应用现状，同时还介绍了将清净分散剂、抗氧防腐剂、减磨剂、防锈剂等添加剂复合而成的汽油清净剂的研制情况。实验结果表明：该剂具有抑制和清除发动机燃燃油系统沉积物的性能，达到国外第三代同类产品的水平。     

Comment: Investor demand and spot commodity prices

Tilton et al. claim in their article “Investor demand and spot commodity prices” to show that “investor demand can be pushing up a commodity's price even when investor stocks are falling.” In the present comment, it is argued that in both the cases described by Tilton et al., investors are supplying the market, putting physical material into it, rather than adding to demand. Thus, the reasoning by Tilton et al. is not concerned with the phenomenon referred to in the traditional theory, where, in the absence of changes in demand and supply fundamentals, prices rise as a result of increased investor demand for futures contracts.     

Source apportionment of PAHs and n-alkanes bound to PM1 collected near the Venice highway

n-Alkanes and polycyclic aromatic hydrocarbons (PAHs) bound to atmospheric particulate matter (PM₁) were investigated in a traffic site located in an urban area of Venice Province (Eastern Po Valley, Italy) during the cold season. Considering the critical situation affecting the Veneto Region concerning the atmospheric pollution and the general lack of information on PM₁ composition and emission in this area, this experimental study aims at determining the source profile, their relative contributions and the dispersion of finer particles. Four sources were identified and quantified using the Positive Matrix Factorization receptor model: (1) mixed combustions related to the residential activities, (2) agricultural biomass burning in addition to the resuspension of anthropogenic and natural debris carried by the wind, (3) gasoline and (4) diesel traffic-related combustions. The role of local atmospheric circulation was also investigated to identify the pollutant sources.     

Pool evaporation: Experimental tests at medium-scale with gasoline

Pool evaporation is a major source of flammable vapour clouds. Predicting the evaporation rate of a liquid hydrocarbon pool is therefore a key issue of dispersion modelling for safety concerns. This paper presents small- and medium-scale experiments of pool evaporation carried out with liquid hydrocarbons (pentane, heptane), hydrocarbon “gasoline-like” mixtures and gasoline. Liquid mass loss was measured and the evaporation rate deduced with its evolution in time. Other observations are highlighted, regarding the evolution of liquid temperatures, mixture compositions, and scale effects like the influence of pool length on surface evaporation rate. Comparisons with well-known correlations are then shown. The authors finally suggest a new semi-empirical correlation with a set of parameters fitted on the performed experiments.     

Understanding world metals prices—Returns,volatility and diversification

In recent times, the prices of internationally traded metals have reached record highs and there is considerable uncertainty regarding their future. This phenomenon is partially driven by strong demand from a small number of emerging economies, such as China and India. This paper uses a long time-series (1900–2007) on 21 metals prices to investigate their properties, and presents unique features of their volatility, including a decomposition into within- and between-group components. If most volatility is commodity-specific rather than “global”, then metals-exporting dependent economies can smooth income via diversification.     

吹扫捕集-气相色谱法测定汽油类有机物

采用吹扫-捕集富集、DB624毛细管柱分离,气相色谱FID检测汽油类化合物,使用4-溴氟苯代用品标准作为质量控制物质,保证了测定全过程处于受控之中。该法具有较高的灵敏度和良好的线性关系,应用于实际样品的分析,水样中汽油检测限0．04mg／L,土样的汽油检测限为2．2mg／kg。回收率在92％～105％之间。相对标准差为2．5％,分析结果令人满意。     

Seven thousand years in the service of humanity—the history of copper, the red metal

Measured by weight, copper is the third most important metal used by man. The annual value of its 2007 output was on a par with the GDP of e.g. Ukraine. Copper is also one of the oldest metals, its employment going back 7000 years. For millennia, it was predominantly employed for decorative purposes, coinage and in warfare. Technical breakthroughs in antiquity, like smelting and alloying, expanded its production and enhanced its utility. Copper's true heyday occurred after 1850, with the usage of electricity. In the period since then, volumes increased 300-fold, while costs and prices declined. With impressive progress in the technology of its production and consumption, the red metal has been able to hold its own, despite the emergence over history of formidable substitutes like iron, aluminum, plastics and optic fiber.     

Price and volatility transmission between primary and scrap metal markets

The relationship between primary and scrap prices has been hypothesized for the most part as unidirectional, characterized by spillovers from primary to scrap prices. The purpose of this study is to evaluate empirically the dynamic interactions between primary and scrap metal prices through multivariate time series methods. In addition, the study expands the investigation at the level of volatility transmission, which has not been previously examined. The metal prices utilized are for copper, lead, and zinc for the period 1984–2001. The paper demonstrates differing long run and short run links. Scrap prices do not improve the long run interpretation of primary prices, but information flows from the scrap to the primary markets exist in the short run. Additionally, the copper and lead markets exhibit bidirectional information flows in terms of volatility transmission. The analysis provides valuable insight into the interactions of the primary and scrap metal sectors which can be used to improve forecasting and planning.     

The Role of Prices in Conserving Critical Natural Capital

Abstract: Until recent decades, economic decision makers have largely ignored the nonmarket benefits provided by nature, resulting in unprecedented threats to ecological life‐support functions. The economic challenge today is to decide how much ecosystem structure can be converted to economic production and how much must be conserved to provide essential ecosystem services. Many economists and a growing number of life scientists hope to address this challenge by estimating the marginal value of environmental benefits and then using this information to make economic decisions. I assessed this approach first by examining the role and effectiveness of the price mechanism in a well‐functioning market economy, second by identifying the issues that prevent markets from pricing many ecological benefits, and third by focusing on problems inherent to valuing services generated by complex and poorly understood ecosystems subject to irreversible change. I then focus on critical natural capital (CNC), which generates benefits that are essential to human welfare and have few if any substitutes. When imminent ecological thresholds threaten CNC, conservation is essential and marginal valuation becomes inappropriate. Once conservation needs have been met, remaining ecosystem structure is potentially available for economic production. Demand for this available supply will determine prices. In other words, conservation needs should be price determining, not price determined. Conservation science must help identify CNC and the quantity and quality of ecosystem structure required to ensure its sustained provision.