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Promoting gas based power in India: Top global University says rich countries should pay $20-30/tonne of CO2 emission prevented
Mar 22:
Critiquing the war cry of climate change adherents for a dramatic cut in fossil fuel consumption if not its complete elimination to keep the world from warming up dangerously, a leading global research university has now come out with a statement that it will not be possible to do so.
8It has argued that it will be impossible for renewal power to replace fossil fuel, either in the rich or the developing world. It has come out with a whole set of reasons renewal power will never be the eventual solution.
8Fossil fuels will continue to play a major role in developing countries like it or not.
8By engaging with this reality and treating fossil fuels in a transparent and balanced way, the world can work to maximize the gains and minimize the harms from their use.
8Key priorities should be to make sure that LPG gets to as many households as possible and that environmental policies properly account for the climate and local pollution impacts of power generation, which will help gas compete with coal on a fairer playing ground.
8Interesting the university has argued that a developing country like India will be justifiably disinclined to impose a carbon price on themselves, so developed countries need to find policy mechanisms through which to shoulder the burden.
8For example, new gas plants in places like India could be paid a carbon price times the avoided emissions from using gas instead of coal for every megawatt-hour of electricity generated.|
8Assuming a modest delivered LNG price of $ 7/mmbtu given the likely oversupply of capacity over the intermediate future, a carbon price of $20–30/tonne of CO2 emission prevented is probably necessary to make gas competitive with coal in India.
8And this is the price that rich countries must shoulder.
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8It has argued that it will be impossible for renewal power to replace fossil fuel, either in the rich or the developing world. It has come out with a whole set of reasons renewal power will never be the eventual solution.
8Fossil fuels will continue to play a major role in developing countries like it or not.
8By engaging with this reality and treating fossil fuels in a transparent and balanced way, the world can work to maximize the gains and minimize the harms from their use.
8Key priorities should be to make sure that LPG gets to as many households as possible and that environmental policies properly account for the climate and local pollution impacts of power generation, which will help gas compete with coal on a fairer playing ground.
8Interesting the university has argued that a developing country like India will be justifiably disinclined to impose a carbon price on themselves, so developed countries need to find policy mechanisms through which to shoulder the burden.
8For example, new gas plants in places like India could be paid a carbon price times the avoided emissions from using gas instead of coal for every megawatt-hour of electricity generated.|
8Assuming a modest delivered LNG price of $ 7/mmbtu given the likely oversupply of capacity over the intermediate future, a carbon price of $20–30/tonne of CO2 emission prevented is probably necessary to make gas competitive with coal in India.
8And this is the price that rich countries must shoulder.
Click on Reports for more
