Know Your Oil: Creating a Global Oil Climate Index

Carnegie Endowment for International Peace | Stanford University | University of Calgary
http://carnegieendowment.org/2015/03/11/know-your-oil-creating-global-oil-climate-index/i3oy

[Oil and Gas Journal]  Researchers at the Carnegie Endowment for International Peace, Stanford University, and the University of Calgary unveiled the first Oil Climate Index to compare various crude oils’ environmental impacts from the wellhead to the consumer. They conceded their analysis of 30 global crudes was from far complete, but expressed hope that it would encourage others to discuss new ways the oils can be managed and regulated to limit climate consequences…

Of the 30 crudes, 6 each came from Canada and the US; 5 came from sub-Saharan Africa; 3 each came from Europe, Eurasia, and Latin America; and 2 each came from the Middle East and North Africa and the Asia-Pacific.

“Advancements in technology that have unlocked unconventional hydrocarbon deposits in once-unreachable areas are costly and risky in both private and social terms,” it said. “Many of these advancements result in larger GHG emissions than traditional extraction methods, and some oils have more than 80% higher emissions per barrel than others.”

Researchers immediately discovered there are an enormous number of variables in many areas. “There’s so much complexity in crude oil that it’s a mistake to assume that all production from a single region produces uniform carbon emissions,” said one of the report’s authors, Jonathan Koomey, a Research Fellow at Stanford University’s Steyer-Taylor Center for Energy Policy and Finance…

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