The Impact of Uncertainty on Banking Behavior: Evidence from the US Sulfur Dioxide Emissions Allowance Trading Program

In this paper, we study empirically whether uncertainty has an influence on trade in the US sulfur dioxide allowances market. In particular, we investigate the role of uncertainty on banking behavior. To do this, we introduce a tractable, structural model of trading permits under uncertainty. The model establishes a relation between banking behavior and risk preferences, especially prudence in the Kimball (1990) sense. We then test this model using data on allowances, for utilities submitted to the US Environmental Protection Agency’s Acid Rain Program, carried over from one year to the next. Evidence is found of imprudence, namely, utilities bank permits in order to favor higher profits. Another finding is that larger utilities do not adopt behavior significantly different from that of smaller ones. This paper was presented at the “International Workshop on Uncertainty in Greenhouse Gas Inventories: Verification, Compliance & Trading” in Warsaw, Poland, September 2004, under the title “Portfolio Management of Emissions Permits and Prudence Behavior.”     

The Kinetics of Interesterfication on Waste Cooking Oil (Sunflower Oil) for the Production of Fatty Acid Alkyl Esters using a Whole Cell Biocatalyst (Rhizopus oryzae) and Pure Lipase Enzyme

Recent research and technology have provided promising outcomes to rely on biodiesel as the alternative and conventional source of fuel. The use of renewable sources constitutes the main stream of research. Waste Cooking Oil (WCO) was used for biodiesel production in this study. Lipase enzyme producing fungi Rhizopus oryzae 262 and commercially available pure lipase enzyme were used for comparative study in the production of FAAE. The whole cell biocatalyst and pure enzyme were immobilized using calcium alginate beads. It was prepared by optimizing with different molar ratios of calcium chloride and different percent sodium alginate. Entrapment immobilization was done for whole cell biocatalyst. PE was also immobilized by entrapment for the transesterification reaction. Four different solvents methanol, ethanol, n-propanol, n-butanol were used as the acyl acceptors. The reaction parameters like temperature, molar ratio, reaction time, and amount of enzyme to be used were also optimized for methanol alone. The same parameters were adopted for the other acyl acceptors too. Among the different acyl acceptors, methanol whose reaction parameters were optimized showed maximum conversion of triglycerides to FAAE - 94% with PE and 84% with WCB. On the whole, PE showed better catalytic converting ability with all the acyl acceptor compared to WCB, further study, it was observed that three consecutive and reversible reactions occurred in the interesterification of triglycerides. So, a kinetic model based on Michaelis-Menten equation with competitive substrate inhibition was used to find the maximum reaction rate V_i for the four solvents using pure enzyme and WCB.     

Comparing Green and Grey Infrastructure Using Life Cycle Cost and Environmental Impact: A Rain Garden Case Study in Cincinnati,OH

Green infrastructure (GI) is quickly gaining ground as a less costly, greener alternative to traditional methods of stormwater management. One popular form of GI is the use of rain gardens to capture and treat stormwater. We used life cycle assessment (LCA) to compare environmental impacts of residential rain gardens constructed in the Shepherd's Creek watershed of Cincinnati, Ohio to those from a typical detain and treat system. LCA is an internationally standardized framework for analyzing the potential environmental performance of a product or service by including all stages in its life cycle, including material extraction, manufacturing, use, and disposal. Complementary to the life cycle environmental impact assessment, the life cycle costing approach was adopted to compare the equivalent annual costs of each of these systems. These analyses were supplemented by modeling alternative scenarios to capture the variability in implementing a GI strategy. Our LCA models suggest rain garden costs and impacts are determined by labor requirement; the traditional alternative's impacts are determined largely by the efficiency of wastewater treatment, while costs are determined by the expense of tunnel construction. Gardens were found to be the favorable option, both financially (~42% cost reduction) and environmentally (62‐98% impact reduction). Wastewater utilities may find significant life cycle cost and environmental impact reductions in implementing a rain garden plan.     

连续流动法测定沉积物中的酸挥发性硫化物

优化沉积物中酸挥发性硫化物(Acid Volatile Sulfide,AVS)的提取方法并采用连续流动分析法检测提取液中的硫化物.研究了吸收液的种类、氮气流量与吹气的时间和反应温度对AVS提取效果的影响以优化提取方法.结果表明,与传统的氢氧化钠或硫酸镉-氢氧化钠吸收液相比,以氯化锌-羧甲基纤维素钠溶液为吸收液吸附效率好,稳定性高且无毒.用连续流动分析法检测提取液中的AVS快速、准确、稳定性好.     

Response of Fish and Macroinvertebrate Bioassessment Indices to Water Chemistry in a Mined Appalachian Watershed

Multimetric indices based on fish and benthic macroinvertebrate assemblages are commonly used to assess the biological integrity of aquatic ecosystems. However, their response to specific stressors is rarely known. We quantified the response of a fish-based index (Mid-Atlantic Highlands Index of Biotic Integrity, MAH-IBI) and a benthic invertebrate-based index (West Virginia Stream Condition Index, WV-SCI) to acid mine drainage (AMD)-related stressors in 46 stream sites within the Cheat River watershed, West Virginia. We also identified specific stressor concentrations at which biological impairment was always or never observed. Water chemistry was extremely variable among tributaries of the Cheat River, and the WV-SCI was highly responsive across a range of AMD stressor levels. Furthermore, impairment to macroinvertebrate communities was observed at relatively low stressor concentrations, especially when compared to state water quality standards. In contrast to the WV-SCI, we found that the MAH-IBI was significantly less responsive to local water quality conditions. Low fish diversity was observed in several streams that possessed relatively good water quality. This pattern was especially pronounced in highly degraded subwatersheds, suggesting that regional conditions may have a strong influence on fish assemblages in this system. Our results indicate that biomonitoring programs in mined watersheds should include both benthic invertebrates, which are consistent indicators of local conditions, and fishes, which may be indicators of regional conditions. In addition, remediation programs must address the full suite of chemical constituents in AMD and focus on improving linkages among streams within drainage networks to ensure recovery of invertebrate and fish assemblages. Future research should identify the precise chemical conditions necessary to maintain biological integrity in mined Appalachian watersheds.     

Life cycle assessment analysis of active and passive acid mine drainage treatment technologies

Acid mine drainage (AMD), resulting from open-cast coal mining, is currently one of the largest environmental challenges facing the mining industry. In this study, a life cycle assessment (LCA) was conducted to evaluate the environmental impacts associated with the construction, operation and maintenance of different AMD treatment options typically employed. LCA is a well-reported tool but is not documented for AMD treatment systems despite their ubiquitous implementation worldwide. This study conducted detailed LCA analysis for various passive and active AMD treatment approaches implemented or considered at a major coal mine in New Zealand using a comparative functional unit of kg acidity removed per day for each treatment option. Eight treatment scenarios were assessed including active limestone and hydrated lime treatments, and compared to passive treatments using limestone and waste materials such as mussel shells. Both midpoint and endpoint LCA impact categories were assessed. Generally, the active treatment scenarios demonstrated greater LCA impacts compared to an equivalent level of treatment for the passive treatment approaches. Lime slaking had the greatest LCA impacts, while passive treatment approaches incurred consistently less impacts except for one passive treatment with a purchased energy scenario. A 50% reduction in transportation distances resulted in the lowest LCA impacts for all scenarios. This study highlights the importance of evaluating the environmental and social impacts of AMD treatment for the mining industry.     

Rapid decolorization of Acid Orange II aqueous solution by amorphous zero-valent iron

Some problems including low treatment capacity, agglomeration and clogging phenomena, and short working life, limit the application of pre-treatment methods involving zero-valent iron (ZVI). In this article, ZVI was frozen in an amorphous state through a melt-spinning technique, and the decolorization effect of amorphous ZVI on Acid Orange II solution was investigated under varied conditions of experimental variables such as reaction temperature, ribbon dosage, and initial pH. Batch experiments suggested that the decolorization rate was enhanced with the increase of reaction temperature and ribbon dosage, but decreased with increasing initial solution pH. Kinetic analyses indicated that the decolorization process followed a first order exponential kinetic model, and the surface-normalized decolorization rate could reach 2.09 L/(m². min) at room temperature, which was about ten times larger than any previously reported under similar conditions. Recycling experiments also proved that the ribbons could be reused at least four times without obvious decay of decolorization rate and efficiency. This study suggests a tremendous application potential for amorphous ZVI in remediation of groundwater or wastewater contaminated with azo dyes.     

基于最优分割理论的酸雨监控点位的分类研究

Fisher最优分割法是用离差平方和来表示同类样本之间的差异程度,通过简便的计算步骤和作图,确定最优分类数,使同类样本间的差异最小,各类别样本间的差异最大,并用F检验法检验最优分类数的合理性。文章根据Fisher最优分割法的理论内涵,研究其应用于酸雨环境监测优化布点的可行性。以漳州市沿海区域监测点为研究实例,用Fisher最优分割法确定最优的分类情况和最优的优化布点方案。结果表明,原布设的9个监测点用Fisher最优分割法优化为3个典型点位,可客观地反映漳州市酸雨控制区的整体污染状况和污染趋势,该方法理论内涵直观、计算简便、重复性好,对环境质量监测有重要的意义。     

模拟酸雨对福州平原稻田土壤细菌丰度及多样性的影响

为了探讨酸雨对稻田土壤细菌的影响,以福州平原某稻田为研究对象,测定和分析模拟不同酸度酸雨处理下早、晚稻土壤细菌群落组成及其丰度.结果表明：模拟酸雨处理提高了早稻土壤细菌的多样性,但却降低了晚稻土壤细菌的多样性;酸雨改变了稻田土壤细菌的丰度及群落结构,经模拟不同酸度的酸雨处理,稻田土壤细菌的优势菌属及其丰度并不一致;早稻pH3.5处理组与早稻对照组之间的物种多样性及群落结构差异最大,晚稻pH2.5处理组与晚稻对照组之间的物种多样性及群落结构差异最大;在酸雨作用下,溶杆菌属（Lysobacter）和产黄杆菌属（Rhodanobacter）的丰度明显升高,而马赛菌属（Massilia）的丰度则显著降低,说明溶杆菌属（Lysobacter）和产黄杆菌属（Rhodanobacter）为耐受酸雨的主要菌属,马赛菌属（Massilia）则为受酸雨影响最大的菌属;细菌属H16的相对丰度与土壤电导率（EC）呈极显著负相关（P<0.01）,Lysobacter的相对丰度与土壤pH值呈极显著负相关（P<0.01）,Arenimonas的相对丰度与土壤总有机碳（SOC）呈极显著正相关（P<0.01）.     

Effects of the Surrounding Matrix on Tree Recruitment in Amazonian Forest Fragments

Abstract:  Little is known about how the surrounding modified matrix affects tree recruitment in fragmented forests. We contrasted effects of two different matrix types, Vismia - and Cecropia -dominated regrowth, on recruitment of pioneer tree species in forest fragments in central Amazonia. Our analyses were based on 22, 1-ha plots in seven experimental forest fragments ranging in size from 1 to 100 ha. By 13 to 17 years after fragmentation, the population density of pioneer trees was significantly higher in plots surrounded by Vismia regrowth than in plots surrounded by Cecropia regrowth, and the species composition and dominance of pioneers differed markedly between the two matrix types. Cecropia sciadophylla was the most abundant pioneer in fragments surrounded by Cecropia regrowth (constituting nearly 50% of all pioneer trees), whereas densities of species in Vismia -surrounded fragments were distributed more evenly. Thus the surrounding matrix had a strong influence on patterns of tree recruitment in Amazonian forest fragments.