| Home
Objectives Research Conclusions Progress Log
Team Members Mission 2007 - Course Site |
| Progress Log
Minutes for Nov. 5, 2003 Team Meeting 11/5/03 Present: all Model: What figures/quantities we need to compute the
costs and benefits for oil corporations and society (see 11/4/03 minutes)… Oil Corporations: 1. Exploration: -trend for world oil market -seismic testing -size of area 2. Transportation: -cost of pipeline (materials) -cost of maintaining pipeline -roads (materials) -shipping costs 3. Production: -how many wells -depth of well -type of well -type of machinery -amount of (extractable) oil in the well -replacement due to wear and tear 4. Wages: -no. of jobs -wage rate for each type of worker -#hours/ week -import of workers ? 5. Oil Spill Clean-up: -how frequently -cost of cleaning: -how many people -how bad the spill (area) 6. Building infrastructure: (more of a cost to society ?) -hospitals -schools -houses -supplies- import -entertainment, building a “city” 7. Refining -how much oil -cost of transporting it to refineries 8. Revenue from Oil: -how much oil is extracted -current price: -trend -probability of conflicts/disruptions globally -time lag (7-8 years) -demand curve and supply curve: equilibrium price Society: 1. Environmental: -no. and type of wildlife affected -degree to which they are affected -pollution 2. Risk of Oil spills: -how often -clean-up costs -cost of damage (impact of what is left- pollution) 3. Disruption to culture: -% of people who’s lives are altered -value for degree of alteration 4. Jobs: -no. of jobs -wage rate -who gets the jobs: unemployed or move from another job? 5. Access to Infrastructure: -price decrease in gas due to easier transportation to the area -greater access to goods due to easier transportation to the area -increase in no. of schools, hospitals, etc. (inc. in no. of people educated, decrease in teacher:student ratio) Notes: -spoke to team 4: will give us a relative ranking of environmental impact .. no numbers -look up papers on what happened in Pudhoe Bay (estimates)
Team Meeting with Alumni Mentors (11/5/03): -Is oil profitable in ANWR? Look up do big corporations want to drill or is it only small Canadian companies (team 8) -environmental cost= cost of replacement (team 4) -one way, not best, but we don’t have a best -cost of dismantling the oil production equipment- do we need additional equipment to dismantle? (team e) -explain assumptions -disruption to culture (ask team 10) -email teams saying what we are going to need from them for model -ask teams for sources -team 4 will be very, very general email for specifics -for environmental impact: -ask an environmental economist on faculty -EPA, environmental agencies -ask teams 5 and 6 for which animals/wildlife affected -use ‘currency’ – per capita/ per caribou -simplify the research and state what we considered and what we deemed was of too little and impact to include -assumption: -price of oil set by supply and demand: ANWR not much of an impact on supply (esp. over 20 year time period) therefore no decrease in price -no alternative sources of fuel considered: corporations have no positive impact on alternactive fuel research -no political impact -look at stuff that matters largely, not small things -factors involved in drilling: -environmental (team 4, 5, 6) -sociological -no. of jobs (team 10, 8, e) -culture (team 10) -oil revenue: net -quantity (team 1) -mgf. costs (team e) -price of oil (team 8) |
| Last updated: November 10, 2003 | Email Team 8: m2007-8@mit.edu |