Fossil Fuel EconomyFossil Fuel Economy• Current economic system is based on the

extensive use of fossil fuels in production• 87% 87% of world energy production

– Petroleum : 37%– Coal : 27%– Natural Gas : 23%

• Fossil fuels are non-renewable and carbon-intensive

• Increasing carbon emissions accelerate climate change

World Energy ProductionWorld Energy Production

OILOILOIL

NATURAL GASNATURAL GASNATURAL GASNATURAL GAS

COALCOALCOALCOAL

NUCLEARNUCLEARENERGYENERGY

RENEWABLERENEWABLEENERGYENERGY

Fossil fuelsFossil fuels• Non-renewable and non-recyclable resources.• Rival goods: once used, they are gone forever.• Current populations and economic systems

depend for survival on the use of fossil fuels.• Growing accumulation of waste products from

fossil fuel use impose risks

• The most accessible and highest-quality known reserves of fossil fuels extracted first– net energy gains are highest.– the lowest-entropy– Thus, in time, not only a quantitative decrease but

also a qualitative decline in stocks expected

• Used fuel does not disappear; it must return to the ecosystem as waste– Acid rain, global warming, carbon monoxide

Acid RainAcid Rain– Arises when pollutants such

as SO2 and NOx are released into the atmosphere, primarily from power plants, metal smelters, factories, and motorized vehicles.

• Ozone is the only chemical in the atmosphere which absorbs certain frequencies of intense ultraviolet (UV) radiation that are damaging to plants and animals.

• Primary cause of is the presence of chlorine-containing source gases (CFCs)

Global WarmingGlobal Warming

Increasing CO2 emissions

GLOBAL GLOBAL WARMINGWARMING

2014 officially the hottest year on record2014 officially the hottest year on record

England saw its hottest year in three and a half centuriesEngland saw its hottest year in three and a half centuries

https://www.youtube.com/watch?t=37&v=55pRU0xxcXA

Effects of Global WarmingEffects of Global Warming

• Effects on weather– Drought– Tropical cyclone

• Glacier retreat

• Rising sea levels

MIT’s Greenhouse Gamble WheelsMIT’s Greenhouse Gamble WheelsPolicy vs No-policy ScenariosPolicy vs No-policy Scenarios

Policies Against Global WarmingPolicies Against Global Warming

International response needed

• United Nations Framework Convention on Climate Change (1994)

– objective of the treaty is to stabilize greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system

– industrialized countries, with the intention of stabilizing their emissions of greenhouse gases at 1990 levels by the year 2000

– no mandatory limits on greenhouse gas emissions for individual countries and contains no enforcement mechanisms

Kyoto ProtocolKyoto Protocol• 3rd conference of the UNFCCC (1997)

• A legally binding international agreement, all participating nations commit themselves to tackling the issue of global warming and greenhouse gas emissions.

• The target agreed upon was an average reduction of 5.2% from 1990 levels by the year 2012.

• National limitations range from 8% reductions for the European Union and others, to 7% for the US, 6% for Japan, 0% for Russia, and permitted increases of 8% for Australia and 10% for Iceland.

Kyoto ProtocolKyoto Protocol

• the largest share of historical and current global emissions of greenhouse gases originated in developed countries;

• per capita emissions in developing countries are still relatively low;

• the share of global emissions originating in developing countries will grow to meet social and development needs.

Kyoto ProtocolKyoto Protocol

Flexible mechanismsFlexible mechanisms• Emissions Trading: allows parties to the Kyoto protocol

to buy greenhouse gas emission permits from other countries to help meet their domestic emission reduction targets.

• Clean Development Mechanism: investments in projects in Non-Annex I countries that would achieve a net saving in GHG emissions.

• Joint Implementation: investments in projects in developing countries that would achieve a net saving in GHG emissions.

Participation in the Kyoto Protocol Participation in the Kyoto Protocol (Period 1: 2008-12) (Period 1: 2008-12)