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Prospects for Carbon Capture and Storage Technologies

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  • Newell, Richard

    ()
    (Resources for the Future)

  • Anderson, Soren

Abstract

Carbon capture and storage (CCS) technologies remove carbon dioxide from flue gases for storage in geologic formations or the ocean. We find that CCS is technically feasible and economically attractive within the range of carbon policies discussed domestically and internationally. Current costs are about $200 to $250 per ton of carbon, although costs are sensitive to fuel prices and other assumptions and could be reduced significantly through technical improvements. Near-term prospects favor CCS for certain industrial sources and electric power plants, with storage in depleted oil and gas reservoirs. Deep aquifers may provide an attractive longer-term storage option, whereas ocean storage poses greater technical and environmental uncertainty. Vast quantities of economically recoverable fossil fuels, sizable political obstacles to their abandonment, and inherent delay associated with developing alternative energy sources suggest that CCS should be seriously considered in the portfolio of options for addressing climate change, alongside energy efficiency and carbon-free energy.

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Bibliographic Info

Paper provided by Resources For the Future in its series Discussion Papers with number dp-02-68.

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Date of creation: 01 Jan 2003
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Handle: RePEc:rff:dpaper:dp-02-68

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Related research

Keywords: carbon; capture; storage; sequestration; climate change; technology;

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References

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  1. McFarland, J. R. & Reilly, J. M. & Herzog, H. J., 2004. "Representing energy technologies in top-down economic models using bottom-up information," Energy Economics, Elsevier, vol. 26(4), pages 685-707, July.
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Cited by:
  1. A.L. Bovenberg & Lawrence H. Goulder & Derek J. Gurney, 2003. "Efficiency Costs of Meeting Industry-Distributional Constraints under Environmental Permits and Taxes," NBER Working Papers 10059, National Bureau of Economic Research, Inc.
  2. Lawrence H. Goulder & William A. Pizer, 2006. "The Economics of Climate Change," NBER Working Papers 11923, National Bureau of Economic Research, Inc.
  3. Parry, Ian & Fischer, Carolyn & Harrington, Winston, 2004. "Should Corporate Average Fuel Economy (CAFE) Standards Be Tightened?," Discussion Papers dp-04-53, Resources For the Future.
  4. Christin, Clémence & Nicolaï, Jean-Philippe & Pouyet, Jerome, 2011. "The Role of Abatement Technologies for Allocating Free Allowances," CEPREMAP Working Papers (Docweb) 1109, CEPREMAP.
  5. Maurie Cohen, 2011. "Is the UK preparing for “war”? Military metaphors, personal carbon allowances, and consumption rationing in historical perspective," Climatic Change, Springer, vol. 104(2), pages 199-222, January.
  6. Kruger, Joseph, 2005. "From SO2 to Greenhouse Gases: Trends and Events Shaping Future Emissions Trading Programs in the United States," Discussion Papers dp-05-20, Resources For the Future.
  7. Asbjørn Torvanger & Kristin Rypdal & Steffen Kallbekken, 2005. "Geological CO 2 Storage as a Climate Change Mitigation Option," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 10(4), pages 693-715, October.
  8. Herman Vollebergh, 2004. "Lessons from the Polder: Is Dutch CO2-Taxation Optimal?," Working Papers 2004.6, Fondazione Eni Enrico Mattei.
  9. Scott Barrett, 2008. "The Incredible Economics of Geoengineering," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 39(1), pages 45-54, January.
  10. Lutsey, Nicholas P., 2008. "Prioritizing Climate Change Mitigation Alternatives: Comparing Transportation Technologies to Options in Other Sectors," Institute of Transportation Studies, Working Paper Series qt5rd41433, Institute of Transportation Studies, UC Davis.
  11. Joseph E. Aldy & William A. Pizer, 2009. "Issues in Designing U.S. Climate Change Policy," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 179-210.
  12. Vallentin, Daniel, 2007. "Inducing the international diffusion of carbon capture and storage technologies in the power sector," Wuppertal Papers 162, Wuppertal Institute for Climate, Environment and Energy.
  13. Pizer, William, 2005. "Climate Policy Design Under Uncertainty," Discussion Papers dp-05-44, Resources For the Future.
  14. Sven Bode & Martina Jung, 2006. "Carbon dioxide capture and storage—liability for non-permanence under the UNFCCC," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 6(2), pages 173-186, June.
  15. Vollebergh, Herman R.J., 2008. "Lessons from the polder: Energy tax design in The Netherlands from a climate change perspective," Ecological Economics, Elsevier, vol. 64(3), pages 660-672, January.
  16. Sanderson, Todd & Ancev, Tihomir & Betz, Regina, 2008. "Optimal Coverage of Installations in a Carbon Emissions Trading Scheme (ETS)," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 6047, Australian Agricultural and Resource Economics Society.
  17. Scott Barrett, 2009. "The Coming Global Climate-Technology Revolution," Journal of Economic Perspectives, American Economic Association, vol. 23(2), pages 53-75, Spring.

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