Cobalt Resource Scarcity in the United States Economy
Cobalt Scarcity in US Economy
EPA1321: Systems Modeling Project Due to an increasing global demand for energy, engineers have been challenged to come up with a new generation synergy, which has to be a sustainable energy system. One of the major capacity additions over the next 20 years will be natural gas fired power plants, which utilize gas turbine power generation equipment. The demand for cobalt is expected to increase significantly. But can the identified reserves of cobalt cope with this increased demand? The purpose of this report is to understand the market dynamics of cobalt scarcity, and present recommendations for ways to alleviate scarcity effects. Kobus du Toit 1395955
Table of Contents
1 Introduction ................................................................................................................................ 0 2 Problem Articulation (Boundary Selection) ............................................................................. 1 2.1 Theme selection ........................................................................................................................................ 1 2.2 Key variables ............................................................................................................................................. 1 2.3 Time horizon ............................................................................................................................................. 2 2.4 Dynamic problem definition (reference modes) ................................................................................. 2 . 3 Formulation of Dynamic Hypothesis ........................................................................................ 3 3.1 Initial hypothesis generation
EPA1321: Systems Modeling Project Due to an increasing global demand for energy, engineers have been challenged to come up with a new generation synergy, which has to be a sustainable energy system. One of the major capacity additions over the next 20 years will be natural gas fired power plants, which utilize gas turbine power generation equipment. The demand for cobalt is expected to increase significantly. But can the identified reserves of cobalt cope with this increased demand? The purpose of this report is to understand the market dynamics of cobalt scarcity, and present recommendations for ways to alleviate scarcity effects. Kobus du Toit 1395955
Table of Contents
1 Introduction ................................................................................................................................ 0 2 Problem Articulation (Boundary Selection) ............................................................................. 1 2.1 Theme selection ........................................................................................................................................ 1 2.2 Key variables ............................................................................................................................................. 1 2.3 Time horizon ............................................................................................................................................. 2 2.4 Dynamic problem definition (reference modes) ................................................................................. 2 . 3 Formulation of Dynamic Hypothesis ........................................................................................ 3 3.1 Initial hypothesis generation
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