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39._Oil___The_Environment

39._Oil___The_Environment - 39.Oil&TheEnvironment 1...

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1 39. Oil & The Environment
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2 Major Themes Environmental regulation Designed to improve society Comes at a price Regulating Criteria Air Pollutants Climate Change & Carbon Controls Green movement is here to stay Hurricanes & Oil / Natural Gas Implications for Oil  Shift to low carbon fuels Natural Gas, Liquefied Natural Gas, & Gas to Liquids  could be big winners
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3 Intergovernmental Panel on Climate Change  (IPCC) projections from  1990-2100 Globally averaged surface temperature to increase  by 35˚- 42˚F under business-as-usual Sea levels to rise by between 0.3-2.9 feet over  same period Extreme consequences Geographic shifts in occurrence of different species  and/or extinction of species Changes in rainfall patterns Drinking water supplies & irrigation Extreme weather events become more frequent i.e. hurricanes, floods, droughts, land degradation Economic costs & human suffering
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4 04/20/11 Greenhouse Gases CO 2 (9 – 26%) Water Vapor (36-72%) Methane (4-9%) Nitrous Oxide (NO x ) Ozone (O 3 ) (3-7%) Climate Change
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04/20/11 5 Factors Affecting Global Climate Change Rising temperatures cause acceleration in the rate of decay of organic matter producing methane, a major greenhouse gas. Rising temperatures make forests drier and more vulnerable to pests, diseases and fire. Arctic permafrost and tundra will melt and release an enormous amount of methane. Tundra and permafrost cover about one fifth of all land. Oceans are huge sinks of carbon dioxide . The solubility of water is highly temperature dependent – the colder the temperature, the higher the capability of water to dissolve carbon dioxide. As ocean temperatures rise, some of the stored carbon dioxide is released back into the atmosphere,
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04/20/11 6 Consequences of Global Climate Change 1. The air temperature close to the earth’s surface increases , whereas the stratosphere cools . It’s estimated that the earth could warm by between 1.4 and 5.8 0 C by the end of the century. During the last ice age, the surface temperature was 5 0 C colder than it is today.
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04/20/11 7 2. The ocean water gets warmer . Water circulation in the oceans can be affected causing the Gulf Stream to weaken and could cause the temperature in much of Europe to drop. 3. Ice caps in northern latitudes and Antarctica to breakup and melt . This can reduce the amount of sunlight that is reflected back to the sky, a rise in sea level burying small islands in the Pacific and in low lying countries such as Bangladesh and the Netherlands, millions of people could be displaced. Many coastlines and beaches including the USA could be lost.
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