RUCHI'S HOMEPAGE
Links to:	Group 8 ~Economic Impact of Oil Production at ANWR or Continued Protection
16 Sept. '03 entry
17 Sept. '03 entry
Research	Members of Mission 2007 have two broad goals:           1. To design the the most 'environmentally correct strategy for oil exploration and extraction in the ANWR ecosystem           2. To perform a cost-benefit analysis in order to evaluate whether or not the hydrocarbon resources that might be extracted from beneath ANWR are worth the environmental damage that might result from the process.
	As Team 8, we have set aside certain goals that we intend to complete by the end of the term. The goals are: 1.    Express the costs and benefits of oil extraction and continued preservation in terms of mathematical figures that can be objectively  compared 2.    Explain in detail the costs and benefits of both options and how we arrived at the figures 3.    Compare how the local, national and international economies would be impacted by oil extraction versus preservation 4.    Maintain our team website, updating it at least once a week 5.    Answer the majority of the following questions to the best of our ability: -    Local economy: What is the current job market in Alaska? How many jobs (and what type) would be created if oil was extracted from ANWR? What revenue would these jobs and the oil generate for Alaska? What infrastructure would have to be built to support the new influx of laborers? -    Oil market: What is the current US import/export balance for oil? What amount of oil could be extracted from ANWR? What changes would occur in the US oil market if this oil is extracted? What is the future fuel need likely to be? What percentage of this need can be practically met by oil? -    Exploration: How much would the extraction machinery cost? What disruptions to current operations/jobs (i.e. logging, fishing, tourism) would extraction cause? -    Biological Impact: What value can one place on ANWR’s unique ecosystem? What change would occur in the ecosystem of ANWR if drilling was begun? What potential risks would exist for the ecosystem if oil is extracted (i.e. oil spills)? What would be the cost of solving these problems should they arise? -    Other resources: What are the resources (besides oil) contained in ANWR? What revenue could these generate if they are extracted?
	PROGRESS:
Mission 2007 Homepage	16 Sept. '03:- I design my first webpage and this is what it looks like. I plan to update it weekly.
Team 8 Homepage	17 Sept. ’03:- We had a team meeting where we decided how to split up the work by media. I’m in charge of researching newspapers and magazines.
	19 Sept. ’03:- We had another meeting where we decided that this week we would research ‘How the economy and the oil market work.’
	23 Sept. ’03:- We met with Mr. Robert Kehner, the librarian and he showed us how to use databases in a better manner.
	24 Sept. ’03:- We met with our alumni mentors Nina Ross and David Day. Then we met with Team 1 with whom we will be presenting Perspective II on the 29^th of September.
	26 Sept. ’03:- I was the coordinator for this week, so I attended the coordination meeting where we got news from other groups.
	28 Sept. '03:- We had a team meeting to work on the Team Website which is due on the 1st of October.
	29 Sept. '03:- In class meeting, amidst much confusion, it was decided that personal web sites would not have to adhere to any standard protocol. Team 8, along with Team 1, led the class in a discussion about the second set of articles, Perspectives II, where we discussed the quality of predictions concerning world oil supply and the possibility of alternate energy sources
	3 Oct. '03:- In class meeting, discussed our overall goals and designated a new focus question for current research
	5 Oct. '03:- Met in Student Center to discuss our current research
	10 Oct. '03:- Discussed our objectives for the year and our timeline of research and analysis for the remainder of 12.000. We updated, more carefully defining, our objectives. We also decided to have completed necessary research by first week of November
	17  Oct. '03:- Discussed our current state of research and which questions still need to be answered, as well as which crude estimates need to be refined. We also collaborated with Team 1 on hydropotential/economic issues
	22 Oct. '03:- Discussed present research into respective topics and argued about how to analyze costs of environment, concluded on asking professionals. Later at night, met with alumni mentors Nina and Jeremy, got advice on how to be focused and possibly quantify environment
	24 Oct. '03:- Teams 1-8 presented their research
	For Team 8's model of the cost-benefit analysis, please click on the link to the Team 8 website.
	If you have any further questions, comments or suggestions, please email me at  ruchij@mit.edu
	This page was last updated on 24 November , 2003 at 12.18 am.