UDOFIA, BASSEY GABRIEL (B.Sc

Total Page:16

File Type:pdf, Size:1020Kb

UDOFIA, BASSEY GABRIEL (B.Sc EVALUATION OF THE BIODIESEL POTENTIALS OF SELECTED PLANT BIOMASSES IN IBADAN NORTH LOCAL GOVERNMENT AREA, NIGERIA BY UDOFIA, BASSEY GABRIEL (B.Sc. Biochemistry, U.I.) Matric No: 127076 A DISSERTATION SUBMITTED TO THE UNIVERSITY OF IBADAN IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF MASTERS OF PUBLIC HEALTH (ENVIRONMENTAL HEALTH) DEGREE. DEPARTMENT OF ENVIRONMENTAL HEALTH SCIENCES, FACULTY OF PUBLIC HEALTH, COLLEGE OF MEDICINE, UNIVERSITY OF IBADAN. JANUARY, 2015 CERTIFICATION I certify that this research work was carried out by Udofia, Bassey Gabriel of the Department of Environmental Health Sciences, Faculty of Public Health, College of Medicine, University of Ibadan, Ibadan. --------------------------------------------------------------------------------------- Supervisor Dr G. R. E. E. Ana B.Sc (PH), M.Eng (PH), MPH (Ib), PhD (Ib), FLEAD (UK), MRSPH (UK), MAPHA (USA) Department of Environmental Health Sciences, Faculty of Public Health, College of Medicine, University of Ibadan, Ibadan. ii DEDICATION This work is dedicated to Jehovah God Almighty, in whose mercy and grace I found favour to carry out this research work from start to finish; and for the gift of life. Also dedicate this work to my Father (Cosmas Etim Udofia) and Mother (Eno Etim Udofia), both of whom have been my pillar of support and encouragement, without whom I might have even given up hope. iii ACKNOWLEDGEMENTS I thank the Almighty God, the author and finisher of my faith, and the one who alone is justifiable to receive all my praise in its entirety. I am forever grateful to you Lord for seeing me throughout my course of study and preserving my life up till this moment. I pray thee to receive my sincere thanks and appreciation. My profound and inestimable gratitude goes to my supervisor, Dr Godson R.E.E. Ana for his immense contribution to my personal and academic life. I cannot but say that your invaluable pieces of advice, criticism and encouragement have gone a long way in repositioning my mind for present and future challenges. Sir, you have not only taken me as student but also taken personal interest in my growth and development like a brother. I pray God to continually bless all the works of your hand and increase you in leaps and bounds even to achieve greater unprecedented feats in life. May he also keep and protect your family all the way. My warm and sincere appreciation goes to all the lecturers and staff of the Department of Environmental Health Sciences-Prof. M.K.C. Sridhar, Prof. A.M. Omishakin, Dr E.O. Oloruntoba, Dr O.T. Okareh, Mr O.M. Morakinyo, Mr B.T. Hammed, Mr Dele James, Mrs Olaide Ikpele and Mr Kehinde Adewusi, for their respective assistance in different ways in the course of my programme. May God continually bless you all and make your efforts in life fruitful. I will also like to use this opportunity to thank the members and staff of the Multidisciplinary Central Research Laboratory (MCRL), Nigerian Institute of Science Laboratory Technology (NISLT), Agronomy Department, Department of Botany, etc, who in one way or the other assisted me in the conduct of my bench work or my laboratory analyses, but who are just too numerous to mention. I pray that God who knows and sees all things will reward the time and effort you put into the accomplishment of this work wherever you may be. I will not forget to specially thank Mr Abiola T. Adebayo for his kind disposition and Mrs Oluronke Korede of the MCRL for her understanding, kind heartedness, motherly care and affection even to students who she doesn’t know from anywhere. I pray God to keep you and your family and help your children to find boundless favour wherever they go in life. iv This section would be incomplete if I fail to specially thank all my classmates (2011/2012 MPH set) of the Department of Environmental Health Sciences for their cordial relationship and enabling us all to work in tandem in accomplishing several set targets of the class even within tight time schedules. My special recognition goes to my notable departmental colleagues, Oluwafemi Muyiwa, Samuel Adekunle, Ifiok Udofia and Alufa Ife. My warm appreciation also goes to my colleague and my most-caring classmate-Alege Adenike. I pray God to bless and prosper you all abundantly. Finally, I would like to appreciate immensely my family and my siblings Mr Daniel Udofia, Mr Akaniyiene Udofia, Mr Kufre Udofia and Miss Blessing Udofia, for giving me a sense of belonging. I must once again sincerely appreciate my parents, who were not only committed financially to this work but also morally and physically, especially the immense role they played in the tedious process of collection and processing of the Spirogyra filaments and other biomasses used in this work. I pray God to bless and keep you and give you long life to reap the fruit of your labour. Udofia, Bassey Gabriel v ABSTRACT There has been an increasing emphasis on renewable sources of energy following recurrent economic crises and environmental concerns associated with petrodiesel. In Nigeria, there is an abundance of oil-bearing inedible plant biomasses, which are underutilized. Research into biodiesel production from these renewable oil sources can provide a more sustainable alternative to petrodiesel. This study was designed to evaluate the biodiesel yielding potentials of selected locally available plant biomasses. Four plant biomasses (Moringa oleifera, Elaeis guineensis, Thevetia peruviana and Spirogyra africana) were utilised. Oil extraction from the biomasses was carried out using Soxhlet and Cold-solvent extraction methods. Hexane-only (H-only) solvent was used in the Soxhlet extraction while two solvent systems were used in the Cold extraction [Hexane/Ether (H/E) mixture and H-only]. The extracted oils were processed to biodiesel via transesterification reaction using sodium hydroxide as catalyst, and two alcohol systems [Methanol/Ethanol (M/E) mixture and Methanol-only (M-only)]. Samples of biomasses were analysed for moisture content and levels of the elements-Phosphorus (P), Calcium (Ca), Sodium (Na) and Sulphur (S)]; and the oil samples for Kinematic Viscosity (KV), Free Fatty Acid (FFA) level and Saponification value. Samples of the biodiesels were also analysed for KV, Flash Point (FP), Acid Value (AV) and the levels of P, Ca, Na and S according to the methods described by the American Standard for Testing and Materials (ASTM D6751). Results of analyses were compared with ASTM D6751 guidelines. Data were analysed using descriptive statistics and t-test at 5% level of significance. The oil yields from Soxhlet extraction, Cold extraction (H/E mixture) and Cold extraction (H- only) were: Moringa (45.0%, 27.7% and 18.0%), PK (38.4%, 33.2% and 25.4%), Thevetia (62.3%, 51.9% and 45.8%) and Spirogyra (22.3%, 11.5% and 6.4%) respectively. Similarly, biodiesel yield from the extracted oils in the M/E and M-only transesterification processes were: Moringa (61.2% and 65.5%), PK (72.4% and 75.3%), Thevetia (78.4% and 85.2%) and Spirogyra (19.1% and 26.2%) respectively. The M-only alcohol proved to be more effective than the M/E mixture as it gave better biodiesel yield. Moisture content of the seeds of Moringa, PK, Thevetia and Spirogyra were 9.4%, 8.3%, 6.6% and 39.7% respectively. The KV, FFA level and Saponification value of the oils were Moringa (44.5 mm2/s, 3.0%, 192.5 mgKOH/g), PK (4.9 vi mm2/s, 1.9%, 230.2 mgKOH/g), and Thevetia (21.5 mm2/s, 0.6%, 120.1 mgKOH/g). Also, the KV, FP, and AV of the biodiesels were Moringa (5.0 mm2/s, 176oC and 0.7 mgKOH/g), PK (2.4 mm2/s, 166oC and 0.4 mgKOH/g), and Thevetia (4.7 mm2/s, 130oC and 0.4 mgKOH/g). Analyses of elemental composition of the biomasses and biodiesels revealed a significant decline in the percentage compositions of P, Ca, Na and S in the biomasses when compared to their respective biodiesel. Spirogyra oil and biodiesel were insufficient to undergo the physiochemical tests. The seeds of Moringa, Palm kernel and Thevetia are good sources of oil for biodiesel production but Thevetia proved to be the highest oil- and biodiesel-yielding biomass. The quality parameters of the biodiesels were found to be within international acceptable standard. Keywords: Biodiesel production, Plant biomasses, Cold-solvent extraction, Transesterification Word count: 489 vii TABLE OF CONTENTS Page Title page i Certification ii Dedication iii Acknowledgements iv Abstract vi Table of Contents viii List of Tables xiv List of Figures xvi List of Plates xviii List of Formulae xx Glossary of Technical terms and Abbreviations xxi CHAPTER ONE 1 1.0 INTRODUCTION 1 1.1 Background Information 1 1.2 Problem Statement 3 1.3 Rationale for the study 4 1.4 Objective of the study 5 1.4.1 Broad Objective 5 1.4.2 Specific Objectives 5 CHAPTER TWO 6 2.0 LITERATURE REVIEW 6 2.1 Fossil fuels 6 2.1.1 Challenges associated with fossil fuels 6 2.1.2 Quality of Emissions from Fossil Fuels 8 viii 2.2 Biofuels 10 2.3 Classes of Biofuels 11 2.3.1 First Generation Biofuels 11 2.3.2 Second Generation Biofuels 12 2.4 Prospects of Biofuel Production 12 2.5 Biodiesel 12 2.5.1 Quality of Emissions from Biodiesel 15 2.6 Conventional Feedstock for Biodiesel Production 15 2.7. Prospects of Biodiesel Production 19 2.7.1 Effects of Biodiesel Production on the Economy 19 2.7.2 Challenges associated with Biodiesel Production 22 2.7.3 Challenges associated with Biodiesel Production from Edible Vegetable oils 22 2.7.4 Effects of biodiesel use on different factors 23 2.7.4.1 Environmental Benefits of Biodiesel use 23 2.7.4.2 Health Benefits of Biodiesel use 25 2.7.4.3 Other Benefits of Biodiesel use 25 2.7.5 Future Outlook for Biodiesel Production 28 2.8 Local oil Biomasses for Biodiesel Production 30 2.8.1 Biomass 30 2.8.2 Challenges of Biofuel Production from Biomasses 33 2.9 Algal Biomass 34 2.9.1 Basic Algae Biology 34 2.9.2 Classes of Algae 35 2.9.3 Important Functions of Algae in the Environment 36 2.9.4 Spirogyra 38 2.9.5 Cultivation and Reproduction of Spirogyra biomass 40 2.9.6 Prospects of Algal oil as a Biofuel 40 ix 2.10 Moringa oleifera Biomass 44 2.10.1 Moringa plant 44 2.10.2 Plant Morphology 46 2.10.3 Cultivation of Moringa oleifera 49 2.10.4 Prospects of M.
Recommended publications
  • Prediction and Inference in the Hubbert-Deffeyes Peak Oil Model ∗
    Prediction and Inference in the Hubbert-Deffeyes Peak Oil Model ∗ John R. Boycey Department of Economics University of Calgary July 2012 Abstract World oil production has grown at an annual rate of 4.86% since 1900. Yet, the Hubbert-Deffeyes `peak oil' (HDPO) model predicts that world oil production is about to enter a sustained period of decline. This paper investigates the empirical robustness of these claims. I document that the data for the HDPO model shows that the ratio of production-to-cumulative-production is decreasing in cumulative production, and that the rate of decrease is itself decreasing. The HDPO model attempts to fit a linear curve through this data. To do so, Hubbert and Deffeyes are forced to either exclude early data or to discount the validity of discoveries and reserves data. I show that an HDPO model which includes early data systematically under-predicts actual cumulative production and that the data also rejects the hypothesis that the fit is linear. These findings undermine claims that the HDPO model is capable of yielding meaningful measures of ultimately recoverable reserves. Key Words: Peak Oil, Exhaustible Resources, Exploration and Development JEL Codes: L71, Q31, Q41, O33 ∗I thank Chris Auld, Diane Bischak, Chris Bruce, Bob Cairns, Robin Carter, Ujjayant Chakravorty, Eugene Choo, Herb Emery, G´erardGaudet, Dan Gordon, James Hamilton, Mike Horn, Lutz Kilian, Dean Lueck, John Rowse, and Scott Taylor. I also thank the associate editor, James L. Smith, and two anonymous referees for helpful comments. All remaining errors are my own. yProfessor of Economics, Department of Economics, University of Calgary, 2500 University Drive, N.W., Calgary, Alberta, T2N 1N4, Canada.
    [Show full text]
  • FULLTEXT01.Pdf
    http://uu.diva-portal.org This is an author produced version of a paper published in Natural Resources Research. This paper has been peer-reviewed but does not include the final publisher proof-corrections or journal pagination. Citation for the published paper: Höök, M., Söderbergh, B., Jakobsson, K. & Aleklett, K. ”The evolution of giant oil field production behaviour” Natural Resources Research, 2009, Vol. 18, Issue 1: 39-56 URL: http://dx.doi.org/10.1007/s11053-009-9087-z Access to the published version may require subscription. Published in Natural Resources Research Volume 18, Number 1, March 2009, Pages 39-56 http://www.springerlink.com/content/142004322x2885nk/ The evolution of giant oil field production behaviour Mikael Höök*, Bengt Söderbergh*, Kristofer Jakobsson*, Kjell Aleklett* Contact e-mail: [email protected] * Uppsala University, Global Energy Systems, Department of physics and astronomy, Box 535, SE-751 21, Uppsala, Sweden http://www.fysast.uu.se/ges Abstract The giant oil fields of the world are only a small fraction of the total number of fields, but their importance is huge. Over 50% of the world oil production came from giants by 2005 and more than haft of the worlds ultimate reserves are found in giants. Based on this it is reasonable to assume that the future development of the giant oil fields will have a significant impact on the world oil supply. In order to better understand the giant fields and their future behaviour one must first understand their history. This study has used a comprehensive database on giant oil fields in order to determine their typical parameters, such as the average decline rate and life-times of giants.
    [Show full text]
  • Co2 Storage in Depleted Oilfields: Global Application Criteria for Carbon Dioxide Enhanced Oil Recovery
    CO2 STORAGE IN DEPLETED OILFIELDS: GLOBAL APPLICATION CRITERIA FOR CARBON DIOXIDE ENHANCED OIL RECOVERY Technical Report Report Number: 2009-12 Date: December This document has been prepared for the Executive Committee of the IEA GHG Programme. It is not a publication of the Operating Agent, International Energy Agency or its Secretariat. INTERNATIONAL ENERGY AGENCY The International Energy Agency (IEA) was established in 1974 within the framework of the Organisation for Economic Co- operation and Development (OECD) to implement an international energy programme. The IEA fosters co-operation amongst its 26 member countries and the European Commission, and with the other countries, in order to increase energy security by improved efficiency of energy use, development of alternative energy sources and research, development and demonstration on matters of energy supply and use. This is achieved through a series of collaborative activities, organised under more than 40 Implementing Agreements. These agreements cover more than 200 individual items of research, development and demonstration. The IEA Greenhouse Gas R&D Programme is one of these Implementing Agreements. DISCLAIMER This report was prepared as an account of work sponsored by the IEA Greenhouse Gas R&D Programme. The views and opinions of the authors expressed herein do not necessarily reflect those of the IEA Greenhouse Gas R&D Programme, its members, the International Energy Agency, the organisations listed below, nor any employee or persons acting on behalf of any of them. In addition, none of these make any warranty, express or implied, assumes any liability or responsibility for the accuracy, completeness or usefulness of any information, apparatus, product or process disclosed or represents that its use would not infringe privately owned rights, including any party’s intellectual property rights.
    [Show full text]
  • A Regional Assessment of the Potential for Co2 Storage in the Indian Subcontinent
    A REGIONAL ASSESSMENT OF THE POTENTIAL FOR CO2 STORAGE IN THE INDIAN SUBCONTINENT Technical Study Report No. 2008/2 May 2008 This document has been prepared for the Executive Committee of the IEA GHG Programme. It is not a publication of the Operating Agent, International Energy Agency or its Secretariat. INTERNATIONAL ENERGY AGENCY The International Energy Agency (IEA) was established in 1974 within the framework of the Organisation for Economic Co-operation and Development (OECD) to implement an international energy programme. The IEA fosters co-operation amongst its 26 member countries and the European Commission, and with the other countries, in order to increase energy security by improved efficiency of energy use, development of alternative energy sources and research, development and demonstration on matters of energy supply and use. This is achieved through a series of collaborative activities, organised under more than 40 Implementing Agreements. These agreements cover more than 200 individual items of research, development and demonstration. The IEA Greenhouse Gas R&D Programme is one of these Implementing Agreements. ACKNOWLEDGEMENTS AND CITATIONS This report was prepared as an account of the work sponsored by the IEA Greenhouse Gas R&D Programme. The views and opinions of the authors expressed herein do not necessarily reflect those of the IEA Greenhouse Gas R&D Programme, its members, the International Energy Agency, the organisations listed below, nor any employee or persons acting on behalf of any of them. In addition, none of these make any warranty, express or implied, assumes any liability or responsibility for the accuracy, completeness or usefulness of any information, apparatus, product of process disclosed or represents that its use would not infringe privately owned rights, including any parties intellectual property rights.
    [Show full text]
  • Global Oil Depletion
    Cover:Example_Design 23/09/2009 10:38 Page 1 An assessment of the evidence for a near-term peak in global oil production global oil in peak near-term for a evidence the assessment of An Global Oil Depletion An assessment of the evidence for a near-term peak in global oil production UK Energy Research Centre September 2009 UK ENERGY RESEARCH CENTRE 58 Prince’s Gate Exhibition Road London SW7 2PG tel: +44 (0)20 7594 1574 email: [email protected] www.ukerc.ac.uk UK ENERGY RESEARCH CENTRE Cover:Example_Design 23/09/2009 10:38 Page 2 An assessment of the evidence for a near-term peak in global oil production A report produced by the Technology and Policy Assessment function of the UK Energy Research Centre Steve Sorrell Jamie Speirs Roger Bentley Adam Brandt Richard Miller August 2009 ISBN number 1-903144-0-35 Prelims_Intro:UKERC 23/09/2009 10:31 Page i Preface This report has been produced by the UK Energy Research Centre’s Technology and Policy Assessment (TPA) function. The TPA was set up to address key controversies in the energy field through comprehensive assessments of the current state of knowledge. It aims to provide authoritative reports that set high standards for rigour and transparency, while explaining results in a way that is useful to policymakers. This report summarises the main conclusions from the TPA’s assessment of evidence for global oil depletion. The subject of this assessment was chosen after consultation with energy sector stakeholders and upon the recommendation of the TPA Advisory Group, which is comprised of independent experts from government, academia and the private sector.
    [Show full text]
  • Giant Oil Field Decline Rates and Their Influence on World Oil Production
    Accepted by Energy Policy http://www.elsevier.com/locate/enpol Giant oil field decline rates and their influence on world oil production Mikael Höök*, Robert Hirsch+, Kjell Aleklett* Contact e-mail: [email protected] * Uppsala University, Global Energy Systems, Department of physics and astronomy, Box 535, SE-751 21, Uppsala, Sweden http://www.fysast.uu.se/GES + Management Information Services, Inc. (MISI), 723 Fords Landing Way, Alexandria, VA, 22314, U.S.A. Abstract The most important contributors to the world’s total oil production are the giant oil fields. Using a comprehensive database of giant oil field production, the average decline rates of the world’s giant oil fields are estimated. Separating subclasses was necessary, since there are large differences between land and offshore fields, as well as between non-OPEC and OPEC fields. The evolution of decline rates over past decades includes the impact of new technologies and production techniques and clearly shows that the average decline rate for individual giant fields is increasing with time. These factors have significant implications for the future, since the most important world oil production base – giant fields – will decline more rapidly in the future, according to our findings. Our conclusion is that the world faces an increasing oil supply challenge, as the decline in existing production is not only high now but will be increasing in the future. Key words: Giant oil fields, decline rates, future oil production, peak oil 1 Introduction: It is well known that oil production from many oil fields worldwide is in decline and that more fields transition into decline each year.
    [Show full text]
  • Pumped Hydropower Storage in the Netherlands
    Delft University of Technology, MSc. Thesis Civil Engineering Pumped hydropower storage in the Netherlands A study at large-scale energy storage and the transformation of the Slufter from a silt depot to a pumped hydro-electricity storage system B. Kibrit 29 November 2013 st.nr: 1354027 Thesis committee: Prof.dr.ir. Bas Jonkman Ir. Ad van der Toorn Dr.ir. Wout Broere Ing. Gert Jan ter Haar This page is intentionally left blank i Preface Preface This graduation thesis is written as part of the Master specialization Hydraulic Engineering at the Faculty of Civil Engineering and Geosciences of the Delft University of Technology in the Netherlands. The thesis is divided in parts to keep it structured. The following parts are discerned: Part A poses the problems and provides an extensive contextual literature study of the energy market and power generation Part B defines the criteria to solve the issue and makes a first leap at solving the problem by looking at possible energy storage methods and designing alternatives Part C is focused on the development and proposition of a specific solution: The Slufter Appendices forms the back-up of this thesis and comprises of all the appendices Together, these parts form one chronological analysis towards creating a feasible energy storage solution for the Netherlands. I wish you pleasant reading… Baris Kibrit Student number: 1354027 [email protected] ii Acknowledgements Acknowledgements To acknowledge every person that has contributed to the conception of this thesis is impossible, so I hope that the sentiments expressed to those mentioned on this page can be extended to all contributors.
    [Show full text]
  • Understanding the Global Energy Crisis Eugene D
    Purdue University Purdue e-Pubs Purdue University Press e-books Purdue University Press Spring 3-15-2014 Understanding the Global Energy Crisis Eugene D. Coyle Military Technological College, Sultanate of Oman, [email protected] Richard A. Simmons Purdue University, [email protected] Follow this and additional works at: http://docs.lib.purdue.edu/purduepress_ebooks Recommended Citation Coyle, Eugene D. and Simmons, Richard A., Understanding the Global Energy Crisis (2014). Purdue University Press. (Knowledge Unlatched Open Access Edition.) This document has been made available through Purdue e-Pubs, a service of the Purdue University Libraries. Please contact [email protected] for additional information. Understanding the Global Energy Crisis Purdue Studies in Public Policy Understanding the Global Energy Crisis EDITED BY EUGENE D. COYLE AND RICHARD A. SIMMONS Published on behalf of the Global Policy Research Institute by Purdue University Press West Lafayette, Indiana Th is book is licensed under a Creative Commons CC-BY-NC License. To view a copy of this license, visit http://creativecommons.org/licenses/by-nc/2.0/. Understanding the global energy crisis / edited by Eugene D. Coyle and Richard A. Simmons. pages cm. -- (Purdue studies in public policy) Includes bibliographical references and index. ISBN 978-1-55753-661-7 (pbk. : alk. paper) -- ISBN 978-1-61249-309-1 (epdf) -- ISBN 978-1- 61249-310-7 (epub) 1. Energy consumption. 2. Energy policy. 3. Energy development. 4. Renewable energy sources. I. Coyle, Eugene D. HD9502.A2U495 2014 333.79--dc23 An electronic version of this book is freely available, thanks to the support of libraries workingKnowledge with Knowledge Unlatched.
    [Show full text]
  • What They Don't Want You to Know About the Coming Oil Crisis
    What they don't want you to know about the coming oil crisis Soaring fuel prices, rumours of winter power cuts, panic over the gas supply from Russia, abrupt changes to forecasts of crude output... Is something sinister going on? Yes, says former oil man Jeremy Leggett, and it's time to face the fact that the supplies we so depend on are going to run out By Jeremy Leggett Published: 20 January 2006 A spectre is haunting Europe - the spectre of an acute, civilisation-changing energy crisis. The latest wobble over disruptions to gas supplies from Russia is merely the latest in a series of reminders of how dependent our economies are on growing supplies of oil and gas. On Wednesday, Gazprom's deputy chairman was in London reassuring Britain that there would be no risk of disruption to British gas supplies in the fall-out from the ongoing spat between Russia and Ukraine over pricing. The very next day, temperatures in Moscow broke a 50-year record, plunging to minus 30C. Gas normally exported was diverted to the home front. Supplies to the West fell. In December, Sir Digby Jones, director-general of the CBI, warned that any shortfall in gas could cause disaster for British industry. The problem, he said, was the likelihood - as forecast by the Met Office - of a particularly cold British winter. This would mean more gas burning in homes and power plants than our liberalised energy market - or its infrastructure - might be able to supply. There aren't enough pipelines from the continent to carry the imported gas that we need now that our North Sea production is dropping.
    [Show full text]
  • News Shocks in Open Economies: Evidence from Giant Oil Discoveries*
    NEWS SHOCKS IN OPEN ECONOMIES: * EVIDENCE FROM GIANT OIL DISCOVERIES Rabah Arezki, Valerie A. Ramey and Liugang Sheng* July 22, 2016 Abstract This paper explores the effect of news shocks in open economies using worldwide giant oil and gas discoveries as a directly observable measure of news shocks about future output ̶ the delay between a discovery and production is on average 4 to 6 years. We first analyze the effects of a discovery in a two-sector small open economy model with a resource sector. We then estimate the effects of giant oil and gas discoveries on a large panel of countries. Our empirical estimates are consistent with the predictions of the model. After an oil or gas discovery, the current account and saving rate decline for the first 5 years and then rise sharply during the ensuing years. Investment rises robustly soon after the news arrives, while GDP does not increase until after 5 years. Employment rates fall slightly and remain low for a sustained period of time. JEL Classification: E00, F3, F4. Word count: 17,016 * Research Department, International Monetary Fund, OxCarre and Brookings Institution (Arezki), University of California, San Diego and NBER (Ramey) and The Chinese University of Hong Kong (Sheng). Contact e-mail: [email protected]; [email protected]; [email protected]. We are grateful to Mike Horn and the Global Energy Systems research group at Uppsala University for sharing their datasets on giant oil discoveries. We thank Robert Barro, Ritwik Banerjee, Olivier Blanchard, Raouf Bouccekine, Yi Chen, Giancarlo Corsetti, Domenico Fanizza, Thorvaldur Gylfason, Nir Jaimovich, Jean-Pierre Laffargue, Prakash Loungani, Akito Matsumoto, Gian Maria Milesi-Ferretti, Maury Obstfeld, Jonathan Ostry, Rick van der Ploeg, Richard Rogerson, Tony Venables, Henrik Wachtmeister, Philippe Wingender, Hongyan Zhao, and referees for detailed comments and discussions.
    [Show full text]
  • Research and Development in Novel Alternative Renewable Energy Technology
    Research and Development in Novel Alternative Renewable Energy Technology Zheming Wen A thesis is submitted in partial fulfilment of the requirements of Bournemouth University for the degree of Doctor of Philosophy October 2015 Faculty of Science and Technology Bournemouth University This copy of the thesis has been supplied on condition that anyone who consults it is understood to recognise that its copyright rests with its author and that no quotation from the thesis and no information derived from it may be published without the author's consent. ii Abstract Fossil fuels have become the main energy source for human after the Industrial Revolution. However, with ever-increasing energy consumption, they are not sustainable in terms of their finite reserves, pollutions to the environment and contributions to climate change. Driven by these problems, the EU and UK have together set a mutual objective to generate renewable energy as 20% of the total energy supply by 2020. This research project, fully funded by Future Energy Source Ltd, is a direct response to the needs of developing novel alternative renewable energy technologies. This project concerns about the research and development of a large scale flat plate solar collector (LSFPSC) with serpentine tubing that can be fully integrated into building envelops. The project work focuses on design improvements for increasing thermal performance, enhancing reliability and minimising costs of the LSFPSC. This is accomplished by employing a three-stage approach combining both experimental testing and simulation studies. An experimental facility was designed and built for testing the LSFPSC prototype with comprehensive monitoring equipment for collecting important data such as temperature and flow rates.
    [Show full text]
  • Energy Resources ___.Cornucopia Or Empty Barrel?
    EnergyResource s�___.cornucopia or Empty Barrel?t Peter J. McCabe2 ABSTRACT fuels are driven more by demand than by the geo­ logic abundance of the resource. Over the last 25 yr, considerable debate has con­ Examination of some energy resources with tinued about the future supply of fossil fuel. On well-documented histories leads to two conceptual one side are those who believe we are rapidly models that relate production to price. The closed­ depleting resources and that the resulting short­ market model assumes that there is only one source ages will have a profound impact on society. On of energy available. Although the price initially may the other side are those who see no impending cri­ fall because of economies of scale long term, prices sis because long-term trends are for cheaper prices rise as the energy source is depleted and it despite rising production. The concepts of becomes progressively more expensive to extract. resources and reserves have historically created By contrast, the open-market model assumes that considerable misunderstanding in the minds of there is a variety of available energy sources and many nongeologists. Hubbert-type predictions of that competition among them leads to long-term energy production assume that there is a finitesup­ stable or falling prices. At the moment, the United ply of energy that is measurable; however, esti­ States and the world approximate the open-market mates of resources and reserves are inventories of model, but in the long run the supply of fossil fuel the amounts of a fossil fuel perceived to be avail­ is finite, and prices inevitably will rise unless alter­ able over some future period of time.
    [Show full text]