GGR333 - Midterm Questions 11-20 - 2014.docx

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University of Toronto Mississauga
Pierre Desrochers

11. In a few words, what is the Tragedy of the Commons (in its common acceptance)? The tragedy of the commons is a dilemma arising from the situation in which multiple individuals, acting independently, and solely and rationally consulting their own self-interest, will ultimately deplete a shared limited resource even when it is clear that it is not in anyone's long-term interest for this to happen. How does it apply to whale hunting in the mid-19th century? This applies to whale hunting: When something belongs to everyone no one cares of it so they continue to hunt whales at no remorse. 12. Which type of coal has the highest carbon content? Anthracite – most energy/unit, less sulfur emitted, 86-98% carbon Which country holds the largest coal reserves in the world? US Which region of the world now accounts for 2/3 of global output? Asia Pacific region What is the recent trend of coal consumption in Europe? EU consumption has grown for 3 consecutive years How is the majority of Canada's coal produced? The majority of Canada’s coal is produced by surface mining – either strip mining or open pit. What are the advantages of this approach? Strip mining is only a temporary use of the land and reclamation can be carried out at the same time mining takes place. With open pit mining, once the pit is mined it’s backfilled with earth and resurfaced with native trees, shrubs and grasses. What are the three main uses of coal in advanced economies today? Power, steel, cement What are the main environmental impacts associated with (the two main types of) coal mining and burning/use (list 3 problems)? · Surface mining – erosion, loss of habitat, dust pollution · Coal burning – particulate emission, sog, acid rains, GHG’s, radiation · Coal Mining – acid mine drainage (heavy metals dissolve, seep into ground/surface water) 13. What was coal (or manufactured) gas? Coal gasification – process for converting coal partially or completely into combustible gases What were the main benefits of gas light? Benefits of Gas Light - Promotion of reading at home / school - Establishment of evening classes - Crime prevention (well-lit streets) - General lighting (theatres & music - halls) - Longer working - day in factories 14. In two words each, what are the upstream, midstream and downstream segments of the oil industry? • segments of oil industry o Upstream - exploration & production o midstream - transportation & trading o downstream - Refining & marketing What is the difference between 'sweet' and 'sour' crude? Sulfur content (sour >1%, sweet <1%) Why does this matter from an economic point of view and what other factor matters in this respect (and why)? • Crude oil differ o sulphur content: "sour" (>1%) or "sweet" (<1%) • heavier & > sour o > difficult & expensive ---> (more highly valued) refined products List two of the three most important benchmark crudes. • Geography: Petroleum benchmarks (about 177) o West Texas Intermediate (WTI) (light, sweet) o Brent Blend (Europe) (light, sweet; less than WTI) o OPEC basket (11 crudes, > heavy & sour than WTI) o Maya (Mexico) (heavy, sour) 15. Describe briefly old-fashioned conventional oil recovery and the usual recovery percentages associated with each phase. (1) Well is drilled -natural flow -underground pressures forces oil up (sometimes gushers) -Up to 15% recovery (2) Secondary Recovery -inject water into reservoir to provide increased pressure -up to another 20% (3) Tertiary Recovery -injection of steam, CO2/ N, or chemical polymers -up to another 10% -oil recovery ~55% According toThe Economist, who are the new unsung masters of the petroleum industry? Those who use directional drilling What are the three production segments in which they specialize? Some make and sell expensive kit for use on drilling rigs or the seabed. Some own and lease out drill-rigs. The third group carries out most of the tasks involved in finding and extracting oil. What once marginal US oil field located near the Canadian border has recently been turned by new technologies into a one of the fastest-growing oil producing area in the United States? 16. How long have oil pipelines been used in NorthAmerica? 75 Years Say a few words about how gathering and feeder lines along with transmission pipelines fit in the overall pipeline network (in other words, how are they connected to each other?) These lines travel short distancFeeder lines move products from batteriesTransmission lines are the energy- gathering pr
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