The social and economic consequences of the fossil fuel supply chain. (14th July 2016)

• Record Type: Journal Article
• Authors: Olson, Carol; Lenzmann, Frank
• Is Part Of: MRS energy & sustainability. Volume 3(2016)
• Publication Date: 2016-07-14
• Subjects: economics, -- environment, -- photovoltaic; Materials -- Environmental aspects -- Periodicals; Energy development -- Environmental aspects -- Periodicals; Sustainable engineering -- Periodicals; Green technology -- Periodicals; 620.11
• DOI: 10.1557/mre.2016.7
• Languages: English
• ISSNs: 2329-2229

Abstract

ABSTRACT: The premise of this Viewpoint article is that the sustainability of the electricity supply is very often addressed in narrow frames of reference, which sets up incremental decision-making. To more fairly compare the economic, social, and environmental aspects of renewables, such as photovoltaics, to fossil fuels, a broader view is required which needs to take into account the impacts of the fossil fuel supply chain. February 2016 was the warmest February since record keeping began in 1880, and was the warmest month in recorded history (in terms of its deviation from average). May 2016, the warmest May on record, was the 13th consecutive record-breaking month. The Paris Agreement signed in December 2015 has solidified agreement that the world must address climate change, and has resounded the warning that inaction on climate change carries potentially catastrophic risk for the global economy. Electricity generated from renewable energy sources is often compared to fossil fuel energy in terms of economics. Recently there have also been increased calls to incorporate the external costs of electricity generation into the price of electricity. Fossil fuels are largely responsible for global warming (as 85% of the CO2 emissions come from fossil fuel combustion). This Viewpoint article looks at fuel supply chains for oil & gas, coal, and nuclear in terms of their economics, environmental and social consequences. This reflection upon the historical and present fossil fuel supply chain gives a perspective useful in avoiding limited frames of reference when addressing the consequences of the business-as-usual operation of fossil fuel supply chains.