The natural capital of offshore oil, gas, and methane hydrates in the World Ocean

2020 ◽  
pp. 111-126
Author(s):  
Angelo F. Bernardino ◽  
Erik E. Cordes ◽  
Thomas A. Schlacher
Keyword(s):  
Deep Sea ◽  
Fossil Fuels ◽  
Natural Capital ◽  
World Ocean ◽  
Well Being ◽  
Green Energy ◽  
Environmental Costs ◽  
Gas Industry ◽  
Regulatory Frameworks ◽  
Hydrocarbon Reserves

Over half of the global energy consumption is based on fossil fuels that are now mainly extracted from ocean depths below 150 m. These hydrocarbon reserves are thus a significant natural capital from deep oceans that support human well-being. Technological advances have guided the offshore deep-sea explorations to virtually all major ocean basins with thousands of wells being drilled on the deep seafloor to reach reserves that now support a significant part of the global markets. However, the environmental footprint of the oil and gas industry is significant and arises from regional impacts of regular operations on deep-sea ecosystems, from major disasters, or day-to-day accidents that spill millions of gallons of oil into the oceans each year, and from a significant contribution to greenhouse gas emissions and its climate effects globally. This is despite the general compliance with a wide array of environmental and political regulatory frameworks globally. The contrast from energy and market demand for fossil fuels against a background of environmental costs and impacts into the deep sea as exploration advances has not previously been examined. Here we apply the natural capital concepts of stock value of hydrocarbon reserves and contrast their financial and human value to the social and economic costs of their exploration and social costs from impacts on ecosystem services. We suggest that the economic value of hydrocarbon resources is very limited when compared to its vast environmental costs, supporting the global transition to a green energy strategy.

A primer on the economics of natural capital and its relevance to deep-sea exploitation and conservation

2020 ◽  
pp. 25-52
Author(s):  
Porter Hoagland ◽  
Di Jin ◽  
Stace Beaulieu
Keyword(s):  
Sustainable Development ◽  
Deep Sea ◽  
Research Agenda ◽  
Natural Capital ◽  
Well Being ◽  
Economic Research ◽  
The Sustainable Development ◽  
Design And Implementation ◽  
Blue Economy ◽  
Accounting Prices

Marine science is now moving quickly to reveal the biophysical, geochemical, and ecological properties of the deep sea. As this understanding grows, deep-sea resources will begin to be exploited more extensively, embodying the hopes of many for a Blue Economy. Institutions to govern this exploitation are only just finding their strides or even just emerging, but there are many cases already of resource overuse and degradation, including overfishing and the impacts beginning to be wrought by a changing climate. Progress towards the sustainable development of the deep sea requires useful indicators that point to changes in human well-being as the deep sea is exploited, such as measures of inclusive wealth. Accounting prices for the natural capital of the deep sea would be useful indicators, and several examples are explored to illustrate current understanding and research gaps. A future economic research agenda would involve refining estimates of accounting prices for the most important types of deep-sea natural capital, locating these within linked classifications of ecosystem services and natural capital, and the design and implementation of a system of economic and environmental accounts for the deep sea comprising the high seas, which lies beyond the purview of individual states.

Introduction

2020 ◽  
pp. 1-24
Author(s):  
Maria Baker ◽  
Eva Ramirez-Llodra ◽  
Paul Alan Tyler
Keyword(s):  
Deep Sea ◽  
Natural Capital ◽  
World Ocean ◽  
Deep Ocean ◽  
Scientific Data ◽  
Social Scientists ◽  
Societal Challenges ◽  
The Many ◽  
Sound Management ◽  
Future Work

There has never been a time like the present when there is so much media, scientific, and economic interest in the deep waters of the world ocean and the animals that live there. It is increasingly important for students and new researchers, as well as experienced scientists, to understand how their research can help to address pressing societal challenges. It is beneficial for deep-sea scientists, social scientists, lawyers, authorities, conservationists, industry, and civil society to have broad knowledge of the issues surrounding exploitation in the deep ocean, which has gradually become an increasingly important research focus. The current and future work of deep-sea scientists in all disciplines provides rigorous scientific data and knowledge to support sound management of human activities in this highly complex and variable realm. In this volume, we have brought together internationally recognised scientists, economists, and legal experts to describe the processes by which humans can benefit from the natural capital of the deep sea in a sustainable framework. For this to happen, communication between all deep-sea stakeholders is essential, and this volume aims to facilitate future discussions between the many different sectors of society who may influence the global deep ocean for future generations.

scholarly journals Challenges and environmental issues in developing hydrocarbon resources in the World ocean

2021 ◽  
Vol 44 (4) ◽  
pp. 485-495
Author(s):  
V. N. Ekzaryan ◽  
A. K. Akhmadiev
Keyword(s):  
Deep Sea ◽  
Oil And Gas ◽  
World Ocean ◽  
Oil And Gas Industry ◽  
Marine Biodiversity ◽  
Development Trends ◽  
Gas Industry ◽  
Geological Processes ◽  
The World ◽  
Ocean Environment

The oil and gas industry has been evolving for 150 years. Despite the predictions on the diminishing role of hydrocarbons in the second half of the 21st century, today they play a leading role in the global energy sector. In view of this there is some interest to study current development trends of the industry. This paper reviews and analyses data for the period from 2011 to 2021, which relate to the development of hydrocarbon resources in the marine and ocean environment. It was important for the authors to consider how the trends they highlighted are affecting or will affect ecosystems. The conducted research has showed that today there are three main development trends in hydrocarbon mining in the World ocean: development of the marine Arctic, continental shelf and the possibility to organize commercial production in the deep sea areas of the World ocean. For each of the directions both existing and potential ecological risks have been identified. They include loss of marine biodiversity, activation of dangerous geological processes, unpredictability of ocean environment, man-made accidents and disasters, discharges of drilling and other industrial waste, etc. The work has also identified the challenges facing the oil and gas industry. These include the search for new technologies for deep-sea production, poorly understood depth of the World ocean, need for new approaches in environmental risk management, as well as the creation of a legal framework for subsoil use regulation in new environments and areas.

Editor in Chief’s Note on the Green Hydrogen Fuel from Solar / Wind Power

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Seyed Ehsan Hosseini
Keyword(s):  
Solar Wind ◽  
Crude Oil ◽  
Fossil Fuels ◽  
Sustainable Energy ◽  
Green Energy ◽  
Hydrogen Fuel ◽  
Fuel Production ◽  
Crude Oil Prices ◽  
Trade War ◽  
The Cost

Renewable and sustainable energy has an evolving story as the ongoing trade war in the word is influencing crude oil prices. Moreover, the global warming is an inevitable consequence of the worldwide increasing rate of fossil fuel utilization which has persuaded the governments to invest on the clean and sustainable energy resources. In recent years, the cost of green energy has tumbled, making the price of renewables competitive to the fossil fuels. Although, the hydrogen fuel is still extremely expensive compared to the crude oil price, investigations about clean hydrogen fuel production and utilization has been developed significantly which demonstrate the importance of the hydrogen fuel in the future. This article aims to scrutinize the importance of green hydrogen fuel production from solar/wind energy.

Technology Focus: Decarbonization (July 2021)

2021 ◽  
Vol 73 (07) ◽  
pp. 64-64
Author(s):  
Nigel Jenvey
Keyword(s):  
Business Models ◽  
Oil And Gas ◽  
Natural Capital ◽  
Ghg Emissions ◽  
Oil And Gas Industry ◽  
Policy Support ◽  
Continuous Change ◽  
Gas Industry ◽  
The Past ◽  
Technology Focus

Have you noticed the change in the oil and gas industry over the past year with its engagement in carbon management, decarbonization, and net-zero-emissions targets? Policy support and technology advances in alternative energies have delivered massive cost reduction in renewables more quickly, and to a greater degree, than expected. Over the past few years, more of the world’s capital has been spent on electricity than oil and gas sup-ply, and more than half of all new energy-generation capacity is now renewable. Some elements of society, therefore, have suggested that this is the beginning of the end for the fossil-fuel sector and call for investors to turn away from oil and gas and “leave it in the ground.” In more than a century of almost continuous change, however, the oil and gas industry has a long track record of innovative thinking, creative solutions, and different business models. SPE papers and events that covered decarbonization during the past year show that a wide variety of solutions already exist that avoid, reduce, replace, offset, or sequester greenhouse gas (GHG) emissions. It is clear, therefore, that decarbonization technologies will now be as important as 4D seismic, horizontal wells, and hydraulic fracturing. That is why we now bring you this inaugural Technology Focus feature dedicated to decarbonization. The experience and capability of the entire JPT community in decarbonization is critical. Please enjoy the following summary of three selected papers on the role of natural gas in fuel-switching; carbon capture, use, and storage (CCUS); and hydrogen technologies that deliver the dual challenge of providing more energy with less GHG emission. There are many ways to engage in the SPE decarbonization efforts in the remainder of 2021. Regional events have addressed CCUS, hydrogen, geothermal, and methane. There is also the new SPE Gaia sustainability program to enable and empower all members who wish to engage in the alignment of the future of energy with sustainable development. The Gaia program has an on-demand library of materials, including an existing series on methane, and upcoming similar events on other energy transition, natural capital and regeneration, and social responsibility priorities. Get involved through your SPE section or chapter or contact your regional Gaia liaison to find out what Gaia programming you can support or lead at www.spe.org/en/gaia.

Mining the air: Political ecologies of the circular carbon economy

2021 ◽  
pp. 251484862110614
Author(s):  
Holly Jean Buck
Keyword(s):  
Fossil Fuels ◽  
Oil And Gas ◽  
New Technologies ◽  
Oil And Gas Industry ◽  
Carbon Utilization ◽  
Gas Industry ◽  
The Public ◽  
Fossil Carbon ◽  
Political Ecologies ◽  
Carbon Economy

Can fossil-based fuels become carbon neutral or carbon negative? The oil and gas industry is facing pressure to decarbonize, and new technologies are allowing companies and experts to imagine lower-carbon fossil fuels as part of a circular carbon economy. This paper draws on interviews with experts, ethnographic observations at carbontech and carbon management events, and interviews with members of the public along a suggested CO2 pipeline route from Iowa to Texas, to explore: What is driving the sociotechnical imaginary of circular fossil carbon among experts, and what are its prospects? How do people living in the landscapes that are expected to provide carbon utilization and removal services understand their desirability and workability? First, the paper examines a contradiction in views of carbon professionals: while experts understand the scale of infrastructure, energy, and capital required to build a circular carbon economy, they face constraints in advocating for policies commensurate with this scale, though they have developed strategies for managing this disconnect. Second, the paper describes views from the land in the central US, surfacing questions about the sustainability of new technologies, the prospect of carbon dioxide pipelines, and the way circular carbon industries could intersect trends of decline in small rural towns. Experts often fail to consider local priorities and expertise, and people in working landscapes may not see the priorities and plans of experts, constituting a “double unseeing.” Robust energy democracy involves not just resistance to dominant imaginaries of circular carbon, but articulation of alternatives. New forms of expert and community collaboration will be key to transcending this double unseeing and furthering energy democracy.

Polymetallic Nodules: Resource Potential and Mining Prospects

2021 ◽  
Vol 55 (6) ◽  
pp. 22-30
Author(s):  
Rahul Sharma
Keyword(s):  
Deep Sea ◽  
Environmental Issues ◽  
Industrial Applications ◽  
Green Energy ◽  
Steady Increase ◽  
Critical Metals ◽  
Alternative Source ◽  
Resource Potential ◽  
Polymetallic Nodules ◽  
International Seabed Authority

Abstract Deep-sea minerals such as polymetallic nodules have attracted significant interest among stakeholders not only for evaluating their potential as an alternative source of critical metals that are required for various industrial applications including green energy but also in developing technology for their exploitation. There has been a steady increase in the number of contractors having exploration rights over large tracts on the seafloor in the “Area,” and the International Seabed Authority that is mandated with the responsibility of regulating such activities is in the process of preparing a code for exploitation of these deep-sea minerals. This commentary takes a look at the resource potential and mining prospects of polymetallic nodules while addressing the economic and environmental issues associated with them.

scholarly journals Mesozooplankton community development at elevated CO<sub>2</sub> concentrations: results from a mesocosm experiment in an Arctic fjord

2013 ◽  
Vol 10 (3) ◽  
pp. 1391-1406 ◽  
Author(s):  
B. Niehoff ◽  
T. Schmithüsen ◽  
N. Knüppel ◽  
M. Daase ◽  
J. Czerny ◽  
...  
Keyword(s):  
Fossil Fuels ◽  
Cold Water ◽  
World Ocean ◽  
Mesh Size ◽  
Co2 Concentration ◽  
Taxonomic Composition ◽  
Marine Biota ◽  
Mesozooplankton Community ◽  
Oithona Similis ◽  
Arctic Fjord

Abstract. The increasing CO2 concentration in the atmosphere caused by burning fossil fuels leads to increasing pCO2 and decreasing pH in the world ocean. These changes may have severe consequences for marine biota, especially in cold-water ecosystems due to higher solubility of CO2. However, studies on the response of mesozooplankton communities to elevated CO2 are still lacking. In order to test whether abundance and taxonomic composition change with pCO2, we have sampled nine mesocosms, which were deployed in Kongsfjorden, an Arctic fjord at Svalbard, and were adjusted to eight CO2 concentrations, initially ranging from 185 μatm to 1420 μatm. Vertical net hauls were taken weekly over about one month with an Apstein net (55 μm mesh size) in all mesocosms and the surrounding fjord. In addition, sediment trap samples, taken every second day in the mesocosms, were analysed to account for losses due to vertical migration and mortality. The taxonomic analysis revealed that meroplanktonic larvae (Cirripedia, Polychaeta, Bivalvia, Gastropoda, and Decapoda) dominated in the mesocosms while copepods (Calanus spp., Oithona similis, Acartia longiremis and Microsetella norvegica) were found in lower abundances. In the fjord copepods prevailed for most of our study. With time, abundance and taxonomic composition developed similarly in all mesocosms and the pCO2 had no significant effect on the overall community structure. Also, we did not find significant relationships between the pCO2 level and the abundance of single taxa. Changes in heterogeneous communities are, however, difficult to detect, and the exposure to elevated pCO2 was relatively short. We therefore suggest that future mesocosm experiments should be run for longer periods.

Assessing the Global Meltwater Spike

1982 ◽  
Vol 17 (2) ◽  
pp. 148-172 ◽  
Author(s):  
Glenn A. Jones ◽  
William F. Ruddiman
Keyword(s):  
Deep Sea ◽  
Planktonic Foraminifera ◽  
World Ocean ◽  
Equatorial Atlantic ◽  
Low Salinity ◽  
Ice Volume ◽  
Middle Latitudes ◽  
Mixing Intensity ◽  
Entire World ◽  
Isotopic Signal

AbstractL. V. Worthington (1968, Meteorological Monographs 8, 63–67) hypothesized that a low-salinity lid covered the entire world ocean. By deconvolving isotopic curves from the western equatorial Pacific and equatorial Atlantic, W. H. Berger, R. F. Johnson, and J. S. Killingley (1977), Nature (London) 269, 661–663) and W. H. Berger (1978, Deep-Sea Research 25, 473–480) reconstructed “meltwater spikes” similar to those actually observed in the Gulf of Mexico and thus apparently confirmed the Worthington hypothesis. It is shown that this conclusion is unwarranted. The primary flaw in the reconstructed meltwater spikes is that the mixing intensity used in the deconvolution operation is overestimated. As a result, structure recorded in the mixed isotopic record becomes exaggerated in the attempt to restore the original unmixed record. This structure can be attributed to variable ice-volume decay during deglaciation, effects of differential solution on planktonic foraminifera, temporal changes in abundance of the foraminifera carrying the isotopic signal, and analytical error. An alternative geographic view to the global low-salinity lid is offered: a map showing portions of the ocean potentially affected by increased deglacial meltwater at middle and high latitudes and by increased precipitation-induced runoff at low and middle latitudes.

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