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Energy Mechanics.docx

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Maureen Padden

Lecture 2: Energy British Thermal Unit: 1 lb. for 1 degree f Resource: Total amount of the product Reserves: economically recoverable - Economic: known and recoverable - Sub-economic: known but not recoverable Lecture 3: Introduction and Mechanics What factors control whether a deposit is sub-economic or a reserve?  Technology change  Price  Product demand  Efficiency of scale  Accessibility physical or government  Access to upstream or downstream services eg. Water  Community push back  Environmental repercussions  Property rights  Large market OPEC control Hubbert’s Oil Peak: - Wasn’t looking at world production, just at the U.S. - Used OPEC prices Hubbert’s Natural Gas Peak: - Could be wrong - Didn’t know at the time what to do with natural gas Energy Conversation: 1. Technical Fix o Limited by physics 2. Lifestyle change o Limited by human nature Energy Prices: - Energy prices reflect what it costs to obtain fuels Energy Intensity: - Energy rose with GDP until 1980 then GDP exceeded energy Energy intensity = Btu/GDP Kinetic Energy motion Potential energy  position (relative to the center of the Earth) Primary sources of energy: Chemical, nuclear, and radiant Potential Energy of water = weight x height Potential Energy of a spring: - Proportional to square of
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