Income risk of EU coal-fired power plants after Kyoto

Coal-fired power plants may enjoy a significant advantage relative to gas plants in terms of cheaper fuel cost. Still, this advantage may erode or even turn into disadvantage depending on CO2 emission allowance price. This price will presumably rise in both the Kyoto Protocol commitment period (2008-2012) and the first post-Kyoto years. Thus, in a carbon-constrained environment, coal plants face financial risks arising in their profit margins, which in turn hinge on their so-called "clean dark spread". These risks are further reinforced when the price of the output electricity is determined by natural gas-fired plants' marginal costs, which differ from coal plants' costs. We aim to assess the risks in coal plants' margins. We adopt parameter values estimated from empirical data. These in turn are derived from natural gas and electricity markets alongside the EU ETS market where emission allowances are traded. Monte Carlo simulation allows to compute the expected value and risk profile of coal-based electricity generation. We focus on the clean dark spread in both time periods under different future scenarios in the allowance market. Specifically, bottom 5% and 10% percentiles are derived. According to our results, certain future paths of the allowance price may impose significant risks on the clean dark spread obtained by coal plants.

PICES Press, Vol. 5, No. 1, January 1997

Highlights of PICES V Warren S. Wooster Interaction between the northern North Pacific and its marginal seas:Current activities of JAMSTEC in the PICES region What is CREAMS? The state of the eastern North Pacific in the first half of 1996 The state of the western North Pacific in the first half of 1996 TCODE Inventory of Long-term Time Series PICES News

Isolation of mineralizing Nestin+ Nkx6.1+ vascular muscular cells from the adult human spinal cord

Background: The adult central nervous system (CNS) contains different populations of immature cells that could possibly be used to repair brain and spinal cord lesions. The diversity and the properties of these cells in the human adult CNS remain to be fully explored. We previously isolated Nestin(+) Sox2(+) neural multipotential cells from the adult human spinal cord using the neurosphere method (i.e. non adherent conditions and defined medium). -- Results: Here we report the isolation and long term propagation of another population of Nestin(+) cells from this tissue using adherent culture conditions and serum. QPCR and immunofluorescence indicated that these cells had mesenchymal features as evidenced by the expression of Snai2 and Twist1 and lack of expression of neural markers such as Sox2, Olig2 or GFAP. Indeed, these cells expressed markers typical of smooth muscle vascular cells such as Calponin, Caldesmone and Acta2 (Smooth muscle actin). These cells could not differentiate into chondrocytes, adipocytes, neuronal and glial cells, however they readily mineralized when placed in osteogenic conditions. Further characterization allowed us to identify the Nkx6.1 transcription factor as a marker for these cells. Nkx6.1 was expressed in vivo by CNS vascular muscular cells located in the parenchyma and the meninges. -- Conclusion: Smooth muscle cells expressing Nestin and Nkx6.1 is the main cell population derived from culturing human spinal cord cells in adherent conditions with serum. Mineralization of these cells in vitro could represent a valuable model for studying calcifications of CNS vessels which are observed in pathological situations or as part of the normal aging. In addition, long term propagation of these cells will allow the study of their interaction with other CNS cells and their implication in scar formation during spinal cord injury.

Review of river fisheries valuation in Central and South America

Unlike Africa and Asia, where a large part of the population are heavily dependent upon fishing for their livelihoods, fishing for a living in the interior of Central and South America (CSA) remains a marginal occupation for all but the most isolated of families. As such, the economics and management of fisheries on the continent have received little attention from within the continent and the rest of the world. This study shows that while a number of studies have been carried out on fishing in the region, they tend to be limited in their geographical focus and time scale. Although fishing of freshwater species may appear to be comparatively insignificant in the region, the rivers of CSA are very important. This report attempts to analyze the literature available on CSA river fisheries and attempts to draw out an economic value of these fisheries. It is divided into a number of sections. First, the authors describe the major river basins on the continent, characterize their fisheries, and place freshwater fisheries in CSA into a global context. Second, the authors provide a review of valuation techniques for fisheries and use this analytical framework to review the principal literature on freshwater fisheries in the region. Then they turn their attention to the economic impact of dams and water abstraction schemes, reviewing the available literature to ascertain how/if economic values are computed for the impact on fisheries. Finally, they offer some conclusions and recommendations on the direction for future studies of freshwater fisheries in CSA.

Proceso del desarrollo exportador de la PYME colombiana

[ES] Las Pymes colombianas, al igual que las de América Latina, afrontan una serie de barreras para la exportación asociadas a la carencia de recursos y capacidades organizacionales y directivas, las cuales hacen que su permanencia en los mercados internacionales sea cuestionable. Al no superar tales barreras y mostrar una posición competitiva más fuerte difícilmente éstas podrán penetrar y sobrevivir en los mercados internacionales y aprovechar las grandes oportunidades que ofrece el mercado mundial. Especialmente, aquéllas que surgen como resultado de los acuerdos de integración y de los sistemas de preferencia suscritos y otorgados a Colombia.

Interim report on the hydrologic features of the Green Swamp area in Central Florida

The Green Swamp area in central Florida is another area where man is developing agricultural land from marginal land. Though the area is by no means as extensive as that of the Everglades, the present efforts for its development are similar to the early efforts for developing the Everglades in that many miles of canals and ditches have been constructed to improve the drainage. Lest the early mistakes of the Everglades be repeated, the Florida Department of Water Resources considered that an appraisal of the physical and hydrologic features of the area was needed to determine the broad effects of draining and developing the swamp. This reconnaissance provides information required by the State of Florida for determining its responsibility and policy in regard to the Green Swamp area and for formulating future plans for water management of the area. Some of the features that have been determined are: the amount of rainfall on the area; the pattern of surfacewater drainage; the amount and direction of surface-water runoff; the direction of ground-water movement; the interrelationship of rainfall, surface water, and ground water; the effects of improved drainage facilities'; and the effects of the hydrologic environment on the chemical quality of water of the area.(PDF contains 106 pages.)

Sustentabilidad de la Pesquería Artesanal del Río Bermejo.

Este trabajo es el resultado de la tesis de Maestría en Recursos Naturales y Medio Ambiente (Orientación Recursos Faunísticos), realizada por el autor en la Facultad de Ciencias Naturales de la Universidad Nacional de Salta y bajo la dirección del Dr. Sergio Gustavo Mosa. La pesca artesanal con fines comerciales es practicada en el sector salteño del Río Bermejo desde hace décadas, por pobladores de localidades ribereñas como Orán, Embarcación y Rivadavia Banda Sur, los cuales pescan hasta el límite Salta – Chaco, dependiendo de la época del año. Esta pesquería se desarrolló por más de 50 años fuera del marco de las normas legales vigentes en la provincia (Ley 5513), siendo una actividad marginal perseguida por la justicia, y mal vista por la opinión pública en general. Entre Julio de 2001 y Julio de 2003, la Cooperativa de Pescadores Artesanales “La Unión” fue habilitada como empresa pesquera comercial de tipo artesanal por la Secretaria de Medio Ambiente y Desarrollo Sustentable de Salta. El monitoreo de esta actividad fue efectuado por la Cátedra de Piscicultura y Pesquerías (IRNED) de la Facultad de Ciencias Naturales de la Universidad Nacional de Salta. Las reglamentaciones y regulaciones legales de esta actividad se tomaron originariamente bajo el principio de precaución ante la falta de conocimiento científico. A la luz de la nueva información colectada, algunas de ellas resultan contrarias al principio prioritario de la gestión pesquera, el cual propone: Obtener la mejor utilización posible del recurso en provecho de la comunidad, recordando que mejor utilización implica mayor captura, mejor precio, más ganancias y más empleo. La presente Tesis de Maestría demuestra la sustentabilidad de la pesquería artesanal en el Bermejo, tanto desde a) el punto de vista biológico, analizando las capturas en función de las normas y reglamentaciones legales vigentes y de la biología y hábitos reproductivos de cada especie, como desde b) el punto de vista económico, teniendo en cuenta la relación costo-beneficio y las posibles alternativas para optimizar la misma. Asimismo, formula una serie de recomendaciones destinadas a mejorar la gestión pesquera. Para las 4 especies más importantes de la pesquería: sábalo Prochilodus lineatus, surubí Pseudoplatystoma coruscans, dorado Salminus brasiliensis y bagre blanco Pimelodus albicans, a) los cupos asignados para la captura anual por especie no son alcanzados; b) las tallas mínimas de captura observadas superan las tallas mínimas de captura autorizadas; c) las tallas medias de captura se encuentran muy por encima de las tallas medias de madurez sexual; d) la captura exclusiva de ejemplares maduros para todas las especies prueba que el grueso del stock pesquero ha podido superar por lo menos un evento reproductivo antes de ser capturado; e) el actual período de veda resulta demasiado amplio por lo que uno de dos meses, de mediados de noviembre a mediados de enero resultaría biológicamente adecuado. En cuanto a la sustentabilidad económica de la actividad, cada unidad económica de pesca debe realizar entre 45 y 50 excursiones de pesca anuales para obtener rendimientos económicos equivalentes a un ingreso mensual de aproximadamente $ 1000. (PDF tiene 92 paginas.)

Temas de Ciencias Naturales.

El 29 de abril del año próximo pasado se cumplieron veinte años del fallecimiento de Raúl Adolfo Ringuelet, quién fuera uno de los científicos más destacados que han dado las ciencias naturales de la Argentina. Salvo contadas excepciones, no hubo recordatorios sobre este acontecimiento, pero el Dr. Ringuelet es uno de los casos que no necesita de la magnanimidad y el tiempo de los mortales para tenerlo presente, ya que la vigencia y el peso de su obra, hacen cumplir con aquello de que “mientras el recuerdo permanece, la muerte no existe”. El Programa para el Estudio y Uso Sustentable de la Biota Austral (ProBiota) quiere recordarlo reproduciendo la publicación de una serie de conferencias dictadas en su juventud, durante 1943 y 1944, en LS 11 Radio Provincia de Buenos Aires y que fueron publicadas en 1946 bajo el título de “Temas de Ciencias Naturales”. En ese año, Raúl A. Ringuelet contaba con treinta dos años y el mundo se encontraba en su mayor parte lacerado y bajo ruinas por la conducta recurrente de la “especie hipócrita” que, en nombre de las ideologías y la paz universal, había concretado la matanza de varios millones de personas. En nuestro país se asistía al nacimiento de un nuevo movimiento histórico y el comienzo de profundos desencuentros en nuestra sociedad, los cuales, lamentablemente, aún no han terminado. En esta década la ciencia argentina sería destacada con el Premio Nóbel a través del Dr. Bernardo Houssay y en las ciencias naturales se habían publicado, entre otras obras, los rasgos principales de la Fitogeografía argentina de J. Frenguelli, la Zoogeografía de Cabrera y Yepes, la última entrega del catalógo sistemático de las aves de Argentina de Steullet y Deautier, y el estudio de la Selva Marginal de Punta Lara de A. L. Cabrera (hijo) y G. Dawson. La lectura de estas conferencias, un total de diez, nos muestra, ya entonces, el espíritu rico, inquieto y polifacético de Raúl A. Ringuelet, el cuál lo distinguiría pocos años después. En algunas de ellas realiza la reseña de la vida y obra de diferentes científicos y naturalistas de nuestro país; en las restantes, expresa ingeniosamente conceptos precursores sobre biodiversidad, conservación y manejo de los recursos naturales y su transferencia a los diferentes niveles de la sociedad. Finalmente, desde ProBiota consideramos que la trascripción de este tipo de documentos constituye un aporte para aquellos interesados en la historia de las ciencias naturales y, asimismo, una contribución para que nuestras jóvenes generaciones de biólogos y naturalistas posean una noción más clara de quienes marcaron rumbos e hicieron escuela en nuestra disciplina con un genuino sentido nacional.

Optimal overall emissions taxation in durable goods oligopoly

We analyze optimal second-best emission taxes in a durable good industry under imperfect competition. The analysis is performed for three different types of emissions and for situations where the good is rented, sold or simultaneously sold and rented. We show, for durable goods that may cause pollution in a period (or in periods) different from the production period, that the expected overall emission tax and the expected total marginal environmental damage per unit produced in each period are the relevant variables to consider in the analysis of overinternalization and in the comparison of optimal emission taxes for renting, selling and renting-selling firms. Our results allow to extend some previous results in the literature to these durable goods and provide an adequate perspective on some other results (in particular, we point out the limitations of focusing only, for those durable goods, on the level and effects of the optimal emission tax in the production period).

Recreational anglers' valuation of near-shore marine fisheries in Florida

This report describes and summarizes the results from a state-wide survey of Florida resident saltwater anglers. The survey was designed to provide estimates of the economic value anglers place on marginal changes in management of selected near-shore marine species. The Contingent valuation method was used to elicit angler willingness to pay for changes in management for redfish, seatrout , mullet, sheepshead, pompano. and king mackerel. Contingent valuation is a process in which respondents are presented with a detailed scenario that describes an opportunity to express their willingness to pay for a proposed change in current conditions. The process consists of three parts. First. the change in current conditions, or the "good" to be valued is described. Second, the payment method is described. The payment method is usually closely related to typical methods of buying goods similar to the one to be valued. Finally. the respondent is asked how much they would pay for the good described in the scenario. A special saltwater fishing license stamp that would allow the holder to take advantage of the described management change was used as a payment mechanism. (PDF contains 147 pages.)

PICES Press, Vol. 17, No. 2, July 2009

Major Outcomes from the 2009 PICES Annual Meeting: A Note from the Chairman (pdf, 0.1 Mb) The FUTURE is Here (pdf, 0.1 Mb) PICES Harmful Algal Bloom International Seafood Safety Project (pdf, 0.3 Mb) PICES at the 2009 GLOBEC Open Science Meeting (pdf, 0.4 Mb) Modeling Ecosystems and Ocean Processes Workshop (pdf, 0.1 Mb) Krill Biology and Ecology Workshop (pdf, 0.1 Mb) Polar and Sub-Polar Marine Ecosystems Workshop (pdf, 0.4 Mb) Biogeochemistry of the Oceans in a Changing Climate Workshop (pdf, 0.1 Mb) Continuous Plankton Recorder Surveys of the Global Oceans (pdf, 0.4 Mb) Plankton Phenology Workshop (pdf, 0.2 Mb) Workshop on “Climate Impact on Ecosystem Dynamics of Marginal Seas” (pdf, 0.1 Mb) Erratum (pdf, 0.4 Mb) The State of the Western North Pacific in the Second Half of 2008 (pdf, 0.2 Mb) State of the Northeast Pacific into early 2009 (pdf, 0.1 Mb) Current Status of the Bering Sea Ecosystem (pdf, 0.1 Mb) 2009 Salmon Forecasting Forum (pdf, 0.3 Mb) The Third Argo Science Workshop: “The Future of Argo” (pdf, 0.1 Mb) 2009 ESSAS Annual Science Meeting (pdf, 0.1 Mb) A Visit Fit for an Emperor and Empress of Japan (pdf, 0.9 Mb)

Consumption and portfolio rules whit stochastic hyperbolic discounting

We extend the classic Merton (1969, 1971) problem that investigates the joint consumption-savings and portfolio-selection problem under capital risk by assuming sophisticated but time-inconsistent agents. We introduce stochastic hyperbolic preferences as in Harris and Laibson (2013) and find closed-form solutions for Merton's optimal consumption and portfolio selection problem in continuous time. We find that the portfolio rule remains identical to the time-consistent solution with power utility and no borrowing constraints. However,the marginal propensity to consume out of wealth is unambiguously greater than the time-consistent, exponential case and,importantly, it is also more responsive to changes in risk. These results suggest that hyperbolic discounting with sophisticated agents offers promise for contributing to explaining important aspects of asset market data.

Inland fisheries resources and the current status of aquaculture in Sri Lanka

The aim of this working paper was to evaluate the potential of different fisheries enhancement and aquacultural systems to benefit marginal farmers who manage small rainfed irrigation systems in the lowland Dry zone of Sri Lanka. Analysis was based on secondary data and key informant interviews with professional fishermen and marginal farmers in N.W Province. [PDF contains 57 pages]

Fisheries marketing systems and consumer preferences in Puttalam District Sri-Lanka

The aim of this study was to understand the current and historic market situation for inland fish and it’s substitutes in order to identify which of the various production opportunities presented by the seasonal tank resource might have greatest relevance for marginal communities in the Dry-zone. Regional and sub-regional market networks for fish and meat products were investigated, ranking and scoring exercises used to characterise consumer demand in rain-fed areas of North West Province and secondary data sources were used to assess historic patterns of demand and supply [PDF contains 57 pages]

Nutrient dynamics of seasonal tanks in the dry zone of Sri Lanka in relation to their hydrological regimes

Village tanks are put to a wide range of uses by the rural communities that depend on them for their survival. As the primacy of irrigation has decreased under these tanks due to a variety of climatic and economic reasons there is a need to reevaluate their use for other productive functions. The research presented in this paper is part of a programme investigating the potential to improve the management of living aquatic resources in order to bring benefits to the most marginal groups identified in upper watershed areas. Based on an improved typology of seasonal tanks, the seasonal changes and dynamics of various water quality parameters indicative of nutrient status and fisheries carrying capacity are compared over a period of one year. Indicators of Net (Primary) Productivity (NP): Rates of Dissolved Oxygen (DO) change, Total Suspended Solids (TSS): Total Suspended Volatile solids (TVSS) ratios are the parameters of principle interest. Based on these results a comparative analysis is made on two classes of ‘seasonal’ and ‘semi-seasonal’ tanks. Results indicate a broad correlation in each of these parameters with seasonal trends in tank hydrology. Highest productivity levels are associated with periods of declining water storage, whilst the lowest levels are associated with the periods of maximum water storage shortly after the NW monsoon. This variation is primarily attributed to dilution effects associated with depth and storage area. During the yala period, encroachment of the surface layer by several species of aquatic macrophyte also has progressively negative impacts on productivity. The most seasonal tanks show wider extremes in seasonal nutrient dynamics, overall, with less favourable conditions than the ‘semi-seasonal’ tanks. Never the less all the tanks can be considered as being highly productive with NP levels comparable to fertilised pond systems for much of the year. This indicates that nutrient status is not likely to be amongst the most important constraints to enhancing fish production. Other potential management improvements based on these results are discussed. [PDF contains 19 pages]