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The crude oil price spikes and high fuel costs experienced in the U.S. over the past ten years have encouraged many attempts to identify the underlying causes of these trends. Diminishing oil resources, slowing rates and increasing costs of production, financial speculation and geopolitics are all common arguments used to explain the recent volatile price changes in oil. But is there a correct answer? According to a recent MIT study, one theory can be ruled out: financial speculation. “We show speculation had little, if any, effect on prices and volatility,” and may have even decreased prices, wrote the authors of… [more]View Insight
In a study of U.S. carbon capture and storage (CCS) potential published in the Proceedings of the National Academies of Science, researchers at the Massachusetts Institute of Technology found “that the United States can store enough CO2 to stabilize emissions at their current rate for over a hundred years. This result suggests that with a favorable political and economic framework, carbon capture and storage can be a viable climate change mitigation option in this country for the next century.” The video below explains their findings:View Insight