The linkage between CO2, FDI, economic growth, and value-added: A European perspective

This article aims to investigate the linkage among CO2 emissions, Foreign Direct Investment (FDI), economic growth, Gross Value Added (GVA) of different sectors namely agriculture, service, manufacturing, and resource extensive industries including construction sectors in four European regions Eastern Europe (EE), Southern Europe (SE), Northern Europe (NE) and Western Europe (WE). This article uses the 3SLS simultaneous equation estimation during the period of 2000 to 2018. This study is the extension of seeing the challenges in policy implication in reducing CO2 emission in technologically rich economies. This article concluded that the causality among variables CO2 emission, economic growth, FDI, and all four sectors GVA is varied according to the regions. However, the CO2 emission has bidirectional causality with each industrial sector's GVA.

Study Assesses Potential of Renewable Energy in Power Sector

This article, written by JPT Technology Editor Chris Carpenter, contains highlights of paper IPTC 21348, “The Color of Energy: The Competition To Be the Energy of the Future,” by Hon Chung Lau, National University of Singapore, prepared for the 2021 International Petroleum Technology Conference, held virtually 23 March–1 April. The paper has not been peer reviewed. Copyright 2021 International Petroleum Technology Conference. Reproduced by permission. The author of the complete paper, for the purposes of this study, characterizes energies as brown, blue, or green. Brown energies are carbon dioxide (CO2)-emitting fossil fuels, such as gas, oil, or coal. Blue energies use carbon capture and storage (CCUS) technologies to remove the emitted CO2 from brown energies. Green energies are zero- or low-CO2-emitting renewable energies. By analyzing the CO2 intensity and levelized cost of energy of energy carriers of different colors, the author shows that renewable energies are best used in replacing fossil fuels in the power sector, where they have the greatest effect in reducing CO2 emission. Overview By 2017, only 11% of the world’s final consumption came from renewable energies, 85% came from fossil fuel, and 4% came from nuclear energy. Energy consumption can be divided into three sectors: power, transport, and thermal. At the time of writing, 26.4% of global power (electricity) consumption comes from renewable energies. In this sphere, renewable energies are making the most significant contribution in reducing CO2 emission. Forty-one percent of CO2 emission comes from electricity and heat, 21% from transport, and 21% from industry. Consequently, the key to global decarbonization is to decarbonize these three sectors. Green Energy Is Preferred Green energies consist of six major types: solar photovoltaic, solar thermal, wind, hydroelectricity, geothermal, and biomass. If 1 kWh of electricity generated by renewable energy (with the exception of biomass) is used to replace 1 kWh of electricity generated by fossil fuel, the net CO2 savings will amount to 0.8, 0.6, and 0.4 kg for replacing coal, oil, and natural gas, respectively. However, if 1 kWh of renewable electricity is used to generate green hydrogen (H2), which is then used for heat generation in industry, it will yield roughly 0.8 kWh of thermal energy, which replaces the same amount of thermal energy by natural gas. This amounts to a CO2 savings of only 0.16 kg CO2/kWh. Consequently, renewable power has the highest CO2 savings effect if it is used to replace fossil fuel for power generation rather than to replace fossil fuel for heat generation. Decarbonizing the Power Sector The power sector is easiest to decarbonize. The three methods foreseen to decarbonize the power sector are nuclear power, blue electricity generated by fossil-fuel power plants equipped with CCUS, and green electricity produced by renewables. The use of nuclear power plants is a country-specific issue. The dual challenge of nuclear plant safety and nuclear waste storage is a key sustainability issue. Recently, interest has been renewed in the idea of increasing investment in nuclear energy for decarbonizing the power sector. It is noteworthy that the countries for whom more than a quarter of their power generation is provided by nuclear energy are all in Europe.

The Linkage between CO2, FDI, Economic Growth and Value-Added: A European Perspective

This article aims to investigate the linkage among CO2 emissions, Foreign Direct Investment (FDI), economic growth, Gross Value Added (GVA) of different sectors namely agriculture, service, manufacturing, and resource extensive industries including construction sectors in four European regions Eastern Europe (EE), Southern Europe (SE), Northern Europe (NE) and Western Europe (WE). To do, this article uses the 3SLS simultaneous equation estimation during the period of 2000 to 2018. This study is the extension of seeing the challenges in policy implication in reducing CO2 emission in technologically rich economies. This article concluded that the causality among variables CO2 emission, economic growth, FDI, and all four sectors GVA is varied according to the regions. However, the CO2 emission has bidirectional causality with each industrial sector's GVA.

Carbon Sequestration Using a Hypersaline Environment: A New Use for Solar Energy

BackgroundClimate change motivates consideration of alternative energy, including solar energy and conversion of biomass to fuel.ResultsIt is suggested here that a more economical way of reducing CO2 emission would be to preserve existing biomass with salt, and perhaps other sterilizing agents. It is found that the required solar energy to produce the salt from ocean water can produce an order of magnitude more mass in salt than the mass of combusted carbon needed to yield an equivalent amount of energy.ConclusionsPreservation, by salt alone, of biomass in the amount needed to offset global use of fossil fuel - would presently require increasing the world's salt production by an order of magnitude or so. On the other hand, this would require much less area per unit of avoided CO2 emission than converting solar energy directly to electricity.