Carbon capture and storage potential contribution to mitigate climate change
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Carbon Capture and Storage Potential Contribution to Mitigate Climate Change By Angel Mario Baca, M.A. The University of Texas at Austin, 2009 Supervisor: Dr. Eric Bickel This thesis evaluates the potential of the Carbon Capture and Storage technologies to mitigate climate change. This work emerged from the current debate regarding when CCS technologies are going to be ready in a commercial-scale, or whether they are going to be economically viable. Geologically, the world contains enough room for storing CO2 emissions, but it is still unsolved if leakage can be controlled and monitored. This research focuses on the development of an economic model to estimate the value of CCS.. This model uses equations from the DICE (Dynamic Integrated model on Climate and the Economy). Then, it estimates what change in temperature could occur, and computes the present value of damages to the economy. Moreover, emissions are simulated using the 40 scenario emissions from the Intergovernmental Panel on Climate Change. As the main conclusion of this model, CCS has to be deployed in almost in the entire number of fossil fuel plants around the world and has to be done in the next 30 years to see CCS having an impact, otherwise it would be relatively small and not worth it. Moreover, CCS technologies are part of the components to reduce climate change, but not the main one. It is required that governments, companies, and institution focus their efforts in working collaboratively towards the enforcement of new policies and development of more technologies.