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Heavier Crude, Changing Demand for Petroleum Fuels, Regional Climate Policy, and the Location of Upgrading Capacity:

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dc.contributor.author Reilly, John
dc.contributor.author Paltsev, Sergey
dc.contributor.author Choumert, Frederic
dc.date.accessioned 2007-08-15T18:13:24Z
dc.date.available 2007-08-15T18:13:24Z
dc.date.issued 2007-04
dc.identifier.uri http://mit.edu/globalchange/www/abstracts.html#a144
dc.identifier.uri http://hdl.handle.net/1721.1/38458
dc.description Abstract in HTML and technical report in PDF available on the Massachusetts Institute of Technology Joint Program on the Science and Policy of Global Change website (http://mit.edu/globalchange/www/). en
dc.description.abstract The crude slate is likely to become heavier in the future with greater reliance on bitumens, tar sands, heavy oils, and eventually possibly shale oil. Under standard refining processes these crude oil sources produce a larger fraction of heavy products. At the same time, petroleum product demand growth is likely to disproportionately favor mid-weight products because of the strongly growing demand for transportation fuels including diesel, jet fuel, and gasoline. This will create a significant demand for new upgrading capacity in the refinery sector, and these upgrading facilities are themselves a significant source of carbon emissions. Using a version of the MIT Emissions Prediction and Policy Analysis (EPPA) model that separately considers five petroleum products we examine the need for, and the location of, refinery upgrading capacity under significant carbon policy in developed countries but not in developing countries. The results show that a carbon policy leads to a shift of most of the investment in upgrading capacity to developing countries, where the cost of carbon control is avoided, resulting in significant carbon leakage. en
dc.description.sponsorship This study received support from the MIT Joint Program on the Science and Policy of Global Change, which is funded by a consortium of government, industry and foundation sponsors. en
dc.language.iso en_US en
dc.publisher MIT Joint Program on the Science and Policy of Global Change en
dc.relation.ispartofseries Report no. 144 en
dc.title Heavier Crude, Changing Demand for Petroleum Fuels, Regional Climate Policy, and the Location of Upgrading Capacity: en
dc.type Technical Report en
dc.identifier.citation Report no. 144 en


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