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Midterm

# ECON 323 Study Guide - Midterm Guide: Kilowatt Hour, British Thermal Unit, South African Class Ng3 4-6-2T

Department
Economics
Course Code
ECON 323
Professor
Afshin Honarvar
Study Guide
Midterm

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1- Price of gas is 3.8\$/GJ, what would be the price in barrel of oil equivalent?
1GJ = 0.947817MMBtu 10^12 Btu = 0.18 x 10^6 boe
10^6 Btu = 0.18 boe
1MMBtu = 0.18 boe
1GJ = 0.947817MMBtu x 0.18 boe = 0.170607 boe
\$3.8/0.170607 = \$22.27/boe
2- One bbl of oil equivalent equals to how many cubic meters of natural gas?
106 boe = 0.15x109m3 NG
1 boe = 0.15 x 103 m3 NG
So 1 boe = 150 cubic meters of Natural Gas
3- In 2013, the total production of coal in Alberta was 32 million tons, convert the production
into boe.
1 tonne of coal = 5 boe
32,000,000*5 = 160,000,000 boe
4- In 2013, the total production of natural gas in Alberta was 102 billion m3, convert the
production into boe.
1x 109 m3 = 6.60x106 boe
6,600,000x102 = 673,200,000 boe
5- Average price of light/medium oil in Alberta was \$99/bbl in 2013, and average price of
natural gas was 2.83\$/Gj in the same year in Alberta. How much was the price of natural
gas cheaper than oil on a heat value basis?
1GJ = 0.947817 MMbtu
1GJ = 0.947817MMBtu x 0.18 boe = 0.170607 boe
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