Biokerosene from Babassu and Camelina Oils: production and properties of their blends with fossil kerosene

Babassu and camelina oils have been transesterified with methanol by the classical homogeneous basic catalysis method with good yields. The babassu fatty acid methyl ester (FAME) has been subjected to fractional distillation at vacuum, and the low boiling point fraction has been blended with two types of fossil kerosene, a straight-run atmospheric distillation cut (hydrotreated) and a commercial Jet-A1. The camelina FAME has been blended with the fossil kerosene without previous distillation. The blends of babassu biokerosene and Jet-A1 have met some of the specifications selected for study of the ASTM D1655 standard: smoke point, density, flash point, cloud point, kinematic viscosity, oxidative stability and lower heating value. On the other hand, the blends of babassu biokerosene and atmospheric distillation cut only have met the density parameter and the oxidative stability. The blends of camelina FAME and atmospheric distillation cut have met the following specifications: density, kinematic viscosity at −20 °C, and lower heating value. With these preliminary results, it can be concluded that it would be feasible to blend babassu and camelina biokerosenes prepared in this way with commercial Jet-A1 up to 10 vol % of the former, if these blends prove to accomplish all the ASTM D1655-09 standards.

Biokerosene from coconut, babassu, camelina and palm kernel oils: production and properties of their blends with fossil kerosene

On December 20th 2006 the European Commission approved a law proposal to include the civil aviation sector in the European market of carbon dioxide emission rights [European Union Emissions Trading System, EUETS). On July 8th 2009, the European Parliament and Conseil agreed that all flights leaving or landing in the EU airports starting from January 1st 2012 should be included in the EUETS. On November 19th 2008, the EU Directive 2008/101/CE [1] included the civil aviation activities in the EUETS, and this directive was transposed by the Spanish law 13/2010 of July 5th 2010 [2]. Thus, in 2012 the aviation sector should reduce their emissions to 97 % of the mean values registered in the period 2004-2006, and for 2013 these emission reductions should reach 95 % of the mean values for that same period. Trying to face this situation, the aviation companies are planning seriously the use of alternative jet fuels to reduce their greenhouse gas emissions and to lower their costs. However, some US airlines have issued a lawsuit before the European Court of Justice based in that this EU action violates a long standing worldwide aviation treaty, the Chicago convention of 1944, and also the Chinese aviation companies have rejected to pay any EU carbon dioxide tax [3]. Moreover, the USA Departments of Agriculture and Energy and the Navy will invest a total of up to $150 million over three years to spur production of aviation and marine biofuels for commercial and military applications [4]. However, the jet fuels should fulfill a set of extraordinarily sensitive properties to guarantee the safety of planes and passengers during all the flights.

Modelling and forecasting fossil fuels, CO2 and electricity prices and their volatilities

In the current uncertain context that affects both the world economy and the energy sector, with the rapid increase in the prices of oil and gas and the very unstable political situation that affects some of the largest raw materials’ producers, there is a need for developing efficient and powerful quantitative tools that allow to model and forecast fossil fuel prices, CO2 emission allowances prices as well as electricity prices. This will improve decision making for all the agents involved in energy issues. Although there are papers focused on modelling fossil fuel prices, CO2 prices and electricity prices, the literature is scarce on attempts to consider all of them together. This paper focuses on both building a multivariate model for the aforementioned prices and comparing its results with those of univariate ones, in terms of prediction accuracy (univariate and multivariate models are compared for a large span of days, all in the first 4 months in 2011) as well as extracting common features in the volatilities of the prices of all these relevant magnitudes. The common features in volatility are extracted by means of a conditionally heteroskedastic dynamic factor model which allows to solve the curse of dimensionality problem that commonly arises when estimating multivariate GARCH models. Additionally, the common volatility factors obtained are useful for improving the forecasting intervals and have a nice economical interpretation. Besides, the results obtained and methodology proposed can be useful as a starting point for risk management or portfolio optimization under uncertainty in the current context of energy markets.

Vegetal preservation in the “Lo Hueco” fossil site (Cuenca, Spain)

Preservación Vegetal en el yacimiento Lo Hueco (Cuenca, España)