to drill for natural gas on its own land. If they drill‚ their initial expenditure will be $40‚000 for drilling costs. If they strike gas‚ they must spend an additional $30‚000 to cap the well and provide the necessary hardware and control equipment. (This $30‚000 cost is not a decision; it is associated with the event "strike gas.") If they decide to drill but no gas is found‚ there are no other subsequent alternatives‚ so their outcome value is -$40‚000. If they drill and find gas‚ there are two
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contain its energy crisis; failing to increase supply proportionately and conserving demand. In 1980s‚ it met 86% of its demand; come 2000s‚ situation is getting worse. Explosion in the supply of natural gas gave the nation a breather‚ sharing burden of electricity and oil‚ only to make future insecure as gas reserves deplete at fast rate. Fire-fighting on the part
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Dear editor of the local paper‚ As the mayor of the town‚ I find fracking to be a beneficial factor to us. Even though fracking isn’t a completely safe way to obtain natural gas‚ I believe the advantages outweigh the disadvantages. Because our town is small‚ it is important to come up with ways to make our community expand and develop. By fracking‚ we’ll be able to create more jobs and increase the employment rates. Research had shown that in Watford City in Western North Dakota the employment
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of the companies in Oman are from international organizations. The number of Oil and gas companies has increased rapidly in the recent years. PDO (Petroleum Development Oman) and OXY (Occidental Petroleum Corporation) are two oil and gas companies. PDO is owned by the Omani government which started in 1962 supported by SHELL‚ while OXY is North American chemical manufacturer. Both OXY and PDO export natural gas and oil. I am going to compare and contrast OXY and PDO to highlight similarities and
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Several large U.S. manufacturers including Dow and Alcoa are strongly opposed to exporting natural gas as it will drive up their production costs‚ thereby increasing the cost of the products that they make. That will make their products more expensive and less competitive. Higher natural gas prices will also mean higher electricity rates‚ which in addition to driving up consumers’ electricity bills will increase the prices of goods and services
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The USGS found that the region has an estimated 90 billion barrels of undiscovered‚ technically recoverable oil‚ 1‚670 trillion cubic feet of technically recoverable natural gas‚ and 44 billion barrels of technically recoverable natural gas liquids. And with the conflicts arising with the Arab states‚ the importance of the natural resources here will grow in importance economically and scientifically. As of now‚ the Russian Arctic is of a large economic significance to the Russian Federation‚ as
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are opened and widened by injecting chemicals and liquids at high pressure”(Dictionary). This type of mining is used to extract natural gas and oil by drilling a mile or more below the surface. Fracking has been “commercially used for 65 years”(Introduction)‚ supplying Americans energy. Hydraulic Fracturing has allowed for the increase in supplies of oil and natural gas. It is currently the best and most efficient way to drill for these substances. Although this technique seems amazing‚ there are
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| Fossil Fuel: Natural Gas | Renewable resource: Wind Power | Describe this resource | Natural Gas in a Hydrocarbon gas that is naturally occurring. It consists of mostly methane and is used as fuel for some vehicles and heating the home. | Wind power is one of the cleanest sources of electricity. It usually involves a fan that spins‚ and the energy is transported to a generator. | Advantages of this resource (include at least two) | 1. Very abundant underground.2. Is cleaner than most other
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failure in Enron that led it into its demise? Enron was formed in 1986 from the merger of natural gas pipeline companies Houston Natural Gas and Internorth. At the time of filing for Chapter 11 Bankruptcy protection in December 2001‚ Enron had a portfolio of diversified activities ranging from the transportation of natural gas‚ the generation transmission and distribution of electricity; marketing of natural gas‚ electricity and other commodities and related risk management and financial services; development
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Conventional Petroleum Energy Through out the history of the United states the main source of energy has been conventional Oil‚ Coal‚ and gas energy‚ or better known as Conventional petroleum energy. However as the demand for electricity sky rockets the pollution produced from the traditional fossil fuel burning plants is reaching dangerous levels. Gas‚ coal and oil burning power plants are as of now responsible for half of America’s air pollution (tripod/online). Not to mention fossil fuels
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