Economics of Oil, Gas and Energy Week 8: Assignment Final Project This week your Hand-in Assignment is your Final Project. The Final Project should not exceed 3,000 words plus bibliography and...

Economics of Oil, Gas and Energy


Week 8:
Assignment


Final Project

This week your Hand-in Assignment is your Final Project.
The Final Project should not exceed 3,000 words plus bibliography and attachments. The evaluation and grade of your outline will be based on the following criteria:

• The difficulty of the topic chosen;


• Explicit inclusion of one or more elements of this module;


• Evidence that you understand key module concepts;


• Quantitative depth;


• Correct format and style;


• Quality of sources;


• Synthesis of diverse concepts introduced in this module;


• Quality and maturity of thought and depth of your argument and analysis;

• Credibility and elegance of your argument;


• Responsiveness to your professor's comments;


• Style and grammar.
  

Please make sure that you cite and reference all your outside sources properly, as per the Harvard Referencing System.

Use the Turnitin link below to submit your assignment.



Introduction to Project Management (INTRPM) Economics of Oil, Gas and Energy Week 8: Assignment Final Project This week your Hand-in Assignment is your Final Project. The Final Project should not exceed 3,000 words plus bibliography and attachments. The evaluation and grade of your outline will be based on the following criteria: · The difficulty of the topic chosen; · Explicit inclusion of one or more elements of this module; · Evidence that you understand key module concepts; · Quantitative depth; · Correct format and style; · Quality of sources; · Synthesis of diverse concepts introduced in this module; · Quality and maturity of thought and depth of your argument and analysis; · Credibility and elegance of your argument; · Responsiveness to your professor's comments; · Style and grammar. Please make sure that you cite and reference all your outside sources properly, as per the Harvard Referencing System. Use the Turnitin link below to submit your assignment. PEAK OIL AND CARBON EMISSION A COURSE FOR CLIMATE CHANGE Is a Threat to Global Peace & Security. University of Liverpool Week 6 Project Proposal: Economics of oil, gas and energy MS Project Management 12th – June – 2013 Abstract: Peaking the world oil production consequentially has an enormous consequence on future carbon emission including climate change resulting in global worming which has linkage with global peace and security, this paper disuses within my capacity as “energy efficiency guru” for a large country and tasked to develop a recommendation for team negotiating on international climate change agreement regarding the quantity that can be promised by management to achieve accepted level of CO2 carbon emissions from fossil fuel, reductions due to the implementation of energy efficiency measures country-wide over the next 15 years that has been predominant cause of an established anthropogenic global warming is a debated concern to address irrespective of it true values, Keywords: peak oil, co2 emission, climate change, global warming, energy efficiency, Introduction: The concept pertaining to peak oil is a predictable assertions of the non- renewable resources that compelled petroleum geologist, researchers to argue the growth patterns, peak productions well as it decline,( van der Veen, 2006, Lam, 1998, Milici and Campbell, 1997) and others, however there are counter disagreement from scholars such as (Kerr, 2005; Wood et al., 2003) who predicted and accepted that it could occur possibly within this century despite the relevance evidence in correlation of peak oil to the projected climate change of the future which has erupted as a result of excessive release of carbon emission into the atmosphere Pacala & Socolow (2004) impacting on it inhabitance with a catastrophic effect known as global warming. . Problem statement: The magnitude of CO2 in the atmosphere as result of fossil fuel use, dangerously threatens humanity with a daring consequences from divers angles according to proven researches. Proposal: There’s a need for action against the changes in the climate and this is to be done with the immediate effect. The vision us is to make our country a “carbon neutral” country in the next one and half decades. The approach is to develop our economy towards the sustainability without impairing economy from any front. There can be three ideas that can help the idea to get developed: · The policy of climate change and efficiency in energy is not a line. It is a loop in which there will be a relation between the amount of reduction needed and the policy that the government is proposing and implementing upon. · It is very crucial for the country to understand the amount of emissions produced by the economy. The amount of emissions to be reduced should match with the way to reduce the emission. The proposal should be implemented with strictness. · This will be a big transition towards the carbon neutral economy. This transition needs to be supported by all the aspects of the society including all the sectors, public & private. Multi-level experimentation needs to be conducted in the various economies to make sure that the problem is addressed in the entire world. Building blocks for the transition can be identifies by energy system on any of the renewable resources. However in order to enhance the realization of carbon emissions, there is the need to the outline the following project · Renewable energy sources such as, solaer, hydro,wind etc. · Electric and hybrid vehicles · Solar powered transport system · Development of the Bio methane The adjustment nature of economic, efficiencies, and the type of fossil fuel could differ between peak oil and climate policy scenarios, regulation of price will contribute even adaptation which will stimulate responses of multitude in the economy, comprising technical change and substitution input within a sector, sector adjustment and change in consumption composition, for this reason, regulation of price would be able to remarkably distribute economic troubles of cutting carbon emissions (Fullerton, 2009; Rose and Kverndokk, 1999) however economic adaptation under peak oil scenario is possibly not merely market process but also shift in power Counter proposal The most widely known counter arguments for the sustainable energy resources are the need for such kind of technology. There are many counter arguments in this front. Many believe that there is no need for such technology. Another main counter argument for this proposal would be the initial investment needed for such a technology. The initial investment would be huge and sometimes this might go up to the limit that an economy might not be able to sustain. There have been many studies that indicate that there will be many different problems related to the environment that will be possessed by the renewable resources. Even though the study is yet to be proved but there are many followers for the same and this theory is also getting the attention from the media. Take an example of wind energy. This energy possesses many dilemmas. First and foremost this energy remains uneconomic for most of the economies since there is a huge inconsistency. Wind farms are very noisy, needs a lot of open land, therefore expensive, and hazardous to birds. There is a high variability in the wing energy and there can be a period with no or little wind that might mean no energy for the rest of the time. The smooth flow of renewable energy is mostly not possible and hence this variability is the biggest threat to the economy. Once there is no energy everything will come to a halt and the economy might collapse in no time. Quantitative analysis No doubt initial investment of such technology is huge. For instance China, the largest emitter of Co2. According to Energy outlook 2013 emission in the country has decreased by around 36% which is a substantial improvement. China has invested up to US $34.6 billion in the sustainability. Comparing this with US that had spent just 18.6 billion but ranks second, this means not many countries have started spending on renewable resources. whiles others can simply not afford to. But the efficiency increase after this investment will pay for the investment in the long run. Conclusion: Particularly, viewing climate change in association with the use of fossil fuel in correlation with peak oil is complex, multifaceted and quintessential issue globally that must be tackle the curb the horrific effect of the future if left unattended will cause severe environmental degradation, health problems, global warming and will adversely impact on global Peace & security Reference David K. et al., (2011). International climate change negotiations: Key lessons and next steps. [ONLINE] Available at: http://www.smithschool.ox.ac.uk/wp-content/uploads/2011/03/Climate-Negotiations-report_Final.pdf. [Accessed 12-06-2013]. Department of Environment, Community and Local Government, NESC Secretariat, 2012. Ireland and the Climate Change Challenge: Connecting ‘How Much’ with ‘How To’. Ireland and the Climate Change Challenge: Connecting ‘How Much’ with ‘How To’, [Online]. Available at http://www.environ.ie/en/PublicationsDocuments/FileDownLoad,32467,en.pdf [Accessed 29 May 2013] Friedrichs, J. (2010). Global energy crunch: How different parts of the world would react to a peak oil scenario. Energy Policy. pp. 4562-4569 Funk, J. (2011). Clean energy. The Origins of New Industries. Engineering Technology Management, National University of Singapore. Robert L. Bradley Jr. 2007. Renewable Energy: Not Cheap, Not "Green". [ONLINE] Available at:http://www.cato.org/pubs/pas/pa-280.html. [Accessed 29 May 13]. Fullerton, D. (2009). Distributional Effects of Environmental and Energy Policy.UK. Rose, A., and S. Kverndokk (1999). Equity in environmental policy with an application to global warming. Environmental and Resource Economics. pp. 352-379. Kerr, R.A. (2005), Bumpy road ahead for world’s oil, Science, pp. 1106-1108. Wood, J. H., G. Long, and D. Morehouse (2003), World conventional oil supply expected to peak in 21st century, pp. 63, 90 Milici, R. C., and E. V. M. Campbell (1997), A predictive production rate life-cycle model for southwestern Virginia coalfields, Lam, M. (1998), Louisiana short term oil and gas forecast, report to Louisiana Dept. of Natural Resources van der Veen, C. J. (2006), Reevaluating Hubbert’s prediction of U.S. peak oil, Eos, 87, 199. Edward Ackon Annan(2013) project proposal week 4. UoL, [Available at] https://api.turnitin.com/dv?s=1&o=333543598&u=1006723367&student_user=1&lang=en_us&session-id=0122a5d11ec1d928718244036f324d1c https://elearning.uol.ohecampus.com/webapps/turn-plgnhndl-bb_bb60/links/submit.jsp?course_id=_1426616_1&content_id=_5766930_1&tii_assign_id=11491041&orig_id=_2968134_1 Murray M. et al., (2010) Climate change, peak oil and road safety: finding synergisms to challenge the dominance of speed Kurt M Campbell (2008) Climatic Cataclysm: The Foreign Policy and National Security Implications of Climate Change