An oil company discovered an oil reserve of 100 million barrels.?
For time t %26gt; 0, in years, the company鈥檚 extraction plan is a linear declining function of time as follows:
,
where q(t) is the rate of extraction of oil in millions of barrels per year at time t and b = 0.1 and a = 10.
(a) If it takes 10.6 years to exhaust the reserve and the oil price is a constant $20 per barrel, the extraction cost per barrel is a constant $10, and the market interest rate is 10% per year, compounded continuously. What is the present value of the company鈥檚 profit?An oil company discovered an oil reserve of 100 million barrels.?
The function q(a,b,t) for the extraction plan has disappeared from your question, so nobody can answer it for you.
Monday, August 23, 2010
Oil reserve?
The U.S. currently has around 700 million barrels of oil in reserve. Here's my question (it's sort of a ';what would we do';) situation.
What if all oil producing countries banded together to stop selling oil to the U.S.? Our country has to keep running, so I'm sure the government would release oil to be refined. But what happens from here? 700 million barrels would only last us about 2 months.
At this point, how would our military function? Wouldn't this be an opportune time for say China or Russia to wage a war on the U.S.?Oil reserve?
Actually 700 million barrels will only last us 34 days. Must likely 15 days, because everyone will to trying to hoard it. I think drilling here is not the answer. Use up all the others nations oil, then use ours. Greedy? yes, but thats america.Oil reserve?
Neither China or Russia has the means to wage a successful war on the USA. We have nukes, they have nukes, those nukes don't depend on a lot of oil to get the job done.
Plus, they can't send an invading force.
Why?
They don't have the means.
Why?
a big fat ocean.
===============
Life is so simple, but we insist on making it complicated
Confucius
551 - 479 BC
===============
Peace
Jim
.
Furthermore, I do not believe we have the ';refinery capacity';. We NEED to be drilling on our own lands (btw this does NOT harm our wildlife or environment like the wackos want us to believe), in our seabeds, coal to oil etc etc. We desperately need this in order to get us through UNTIL a cost effective, viable alternative(s) is up, running smoothly and gaining momentum.
If other countries stopped selling us oil, we would be forced to start drilling into our own oil fields in Alaska, Wyoming, etc... which contain trillions of barrels of oil. The environmentalists would have to just shut up and go away, which would be a good thing, and the country would continue to run.
basically we would have to start drilling on our own land which would no doubt start to piss a lot of people off but hey what can you do.. either that or they need to start figuring out a way now so we wont be so dependant on oil
As long as the Oil Producers can gouge us in prices it does not matter WHERE they get it-and they are in no hurry to develop an alternative fuel that would compete with their own profits. Dilling in the Alaska wildlife reserve and off our shores is a short term answer-does nothing to reduce our oil dependence-and contributes to the demise of the natural resources. Sort of like cutting off our own nose to spite our face. It is no longer supply and demand but ';speculation'; and stock purchases driving the prices. It is our Government stockpiling 70,000 barrels a day into the National oil reserve with is now filled to 97% capacity adding to the demand which-even with the oil reserve purchase-has dropped in the U.S.A. 17% lower then this time last year.
It is leverage to gain access to protected natural resources to continue their record breaking profits even longer and ignoring the needs of future generations. Oil prices will not go down as long as Bush is president. Those are his buddies that are profiting.
GOOD NEWS!
Senate votes to halt oil reserve shipments
By H. JOSEF HEBERT, Associated Press Writer1 hour, 32 minutes ago
The Senate, in a direct challenge to President Bush, voted Tuesday to temporarily halt the shipment of thousands of barrels of oil a day into the government's emergency reserve. Both Democrats and Republicans said such shipments make no sense when oil is costing more than $120 a barrel and could better be used to add supplies to a tight market and possibly lower prices.
';We are buying the most expensive crude oil in the history of the world and storing it,'; said Sen. Byron Dorgan, D-N.D. ';When American consumers are burning at the stake by high energy prices, the government ought not be carrying the wood.';
Bush disapproves but said he will sign the bill.make up foundation
What if all oil producing countries banded together to stop selling oil to the U.S.? Our country has to keep running, so I'm sure the government would release oil to be refined. But what happens from here? 700 million barrels would only last us about 2 months.
At this point, how would our military function? Wouldn't this be an opportune time for say China or Russia to wage a war on the U.S.?Oil reserve?
Actually 700 million barrels will only last us 34 days. Must likely 15 days, because everyone will to trying to hoard it. I think drilling here is not the answer. Use up all the others nations oil, then use ours. Greedy? yes, but thats america.Oil reserve?
Neither China or Russia has the means to wage a successful war on the USA. We have nukes, they have nukes, those nukes don't depend on a lot of oil to get the job done.
Plus, they can't send an invading force.
Why?
They don't have the means.
Why?
a big fat ocean.
===============
Life is so simple, but we insist on making it complicated
Confucius
551 - 479 BC
===============
Peace
Jim
.
Furthermore, I do not believe we have the ';refinery capacity';. We NEED to be drilling on our own lands (btw this does NOT harm our wildlife or environment like the wackos want us to believe), in our seabeds, coal to oil etc etc. We desperately need this in order to get us through UNTIL a cost effective, viable alternative(s) is up, running smoothly and gaining momentum.
If other countries stopped selling us oil, we would be forced to start drilling into our own oil fields in Alaska, Wyoming, etc... which contain trillions of barrels of oil. The environmentalists would have to just shut up and go away, which would be a good thing, and the country would continue to run.
basically we would have to start drilling on our own land which would no doubt start to piss a lot of people off but hey what can you do.. either that or they need to start figuring out a way now so we wont be so dependant on oil
As long as the Oil Producers can gouge us in prices it does not matter WHERE they get it-and they are in no hurry to develop an alternative fuel that would compete with their own profits. Dilling in the Alaska wildlife reserve and off our shores is a short term answer-does nothing to reduce our oil dependence-and contributes to the demise of the natural resources. Sort of like cutting off our own nose to spite our face. It is no longer supply and demand but ';speculation'; and stock purchases driving the prices. It is our Government stockpiling 70,000 barrels a day into the National oil reserve with is now filled to 97% capacity adding to the demand which-even with the oil reserve purchase-has dropped in the U.S.A. 17% lower then this time last year.
It is leverage to gain access to protected natural resources to continue their record breaking profits even longer and ignoring the needs of future generations. Oil prices will not go down as long as Bush is president. Those are his buddies that are profiting.
GOOD NEWS!
Senate votes to halt oil reserve shipments
By H. JOSEF HEBERT, Associated Press Writer1 hour, 32 minutes ago
The Senate, in a direct challenge to President Bush, voted Tuesday to temporarily halt the shipment of thousands of barrels of oil a day into the government's emergency reserve. Both Democrats and Republicans said such shipments make no sense when oil is costing more than $120 a barrel and could better be used to add supplies to a tight market and possibly lower prices.
';We are buying the most expensive crude oil in the history of the world and storing it,'; said Sen. Byron Dorgan, D-N.D. ';When American consumers are burning at the stake by high energy prices, the government ought not be carrying the wood.';
Bush disapproves but said he will sign the bill.
If the-rs only 40years of oil left my be that makes it 25% oil-reserve left in America true or false?
Actually if I am reading your question right, you are correct if you are looking at the global oil use as a whole and not by nation. America has more than 40 years left based on just their use alone but not when you look at the world as a whole.If the-rs only 40years of oil left my be that makes it 25% oil-reserve left in America true or false?
this is false that there are only 40 years of oil left.the oil companies put out they same type of propaganda over and over again they have soooooo many fooled.If the-rs only 40years of oil left my be that makes it 25% oil-reserve left in America true or false?
Huh
200,000,000 points for the ';dumbest'; question!
there is alot more oil than that. there is centuries worth of oil left.
whut?
Have you made a doctorate in mathemetics or,
It's just inborn talent or,
you've watched ';the beautiful mind'; more than once.
Be careful Russians might kidnap you
yes you are soon not going to have oil for your door hinges
So what! We can make synthetic oil, remember?
think about this a sec. whos saying this? oil companies,and our govt.,do you really believe anything they say?i dont
this is false that there are only 40 years of oil left.the oil companies put out they same type of propaganda over and over again they have soooooo many fooled.If the-rs only 40years of oil left my be that makes it 25% oil-reserve left in America true or false?
Huh
200,000,000 points for the ';dumbest'; question!
there is alot more oil than that. there is centuries worth of oil left.
whut?
Have you made a doctorate in mathemetics or,
It's just inborn talent or,
you've watched ';the beautiful mind'; more than once.
Be careful Russians might kidnap you
yes you are soon not going to have oil for your door hinges
So what! We can make synthetic oil, remember?
think about this a sec. whos saying this? oil companies,and our govt.,do you really believe anything they say?i dont
Is the USA 51 or 50 states, considering Iraq Oil reserve?
Iraq currently has no representation in Congress. Hence, it is a colony, not a state.Is the USA 51 or 50 states, considering Iraq Oil reserve?
50, because Iraq is not a state. much like Guam, and Puerto Rico are also territories of Guam merely used as places for Army Bases and what not..but they are not states either.
~GIs the USA 51 or 50 states, considering Iraq Oil reserve?
if there was any truth in your fantasy i would not have paid $2.50 a gallon this morning
if it was all about oil, we would have just taken over Kuwait back in the early 90's when we had the chance.
51 - Kuwait
52 - Saudi Arabia
53 - Afghanistan
54 - Iraq
55 - ?
It is up to the Americans to decide whether they want a 55th state.
51
50, because Iraq is not a state. much like Guam, and Puerto Rico are also territories of Guam merely used as places for Army Bases and what not..but they are not states either.
~GIs the USA 51 or 50 states, considering Iraq Oil reserve?
if there was any truth in your fantasy i would not have paid $2.50 a gallon this morning
if it was all about oil, we would have just taken over Kuwait back in the early 90's when we had the chance.
51 - Kuwait
52 - Saudi Arabia
53 - Afghanistan
54 - Iraq
55 - ?
It is up to the Americans to decide whether they want a 55th state.
51
The water reserve has oil in it, water is brown, why ?
i have a 1997 honda civic dx and it's overheating!!!The water reserve has oil in it, water is brown, why ?
You have a blown headgasket... time for a motor rebuild or motor replacement
You have a blown headgasket... time for a motor rebuild or motor replacement
Huge oil reserve find?!?!?
http://news.yahoo.com/s/ap/20080415/ap_o鈥?/a>
How happy are you about this?!? How much of a decrease in gas prices in America do you think this may lead to? Brazil is part of OPEC, right? We need to straighten out our relations with Brazil and hopefully, gas can fall under $3 a gallon! 33 BILLION gallons!Huge oil reserve find?!?!?
If I were Brazil I'd hoard it just like the US is hoarding ours. I really don't see any reason for them share it with us. They are already far ahead of us as far as alternative fuels go though. I think 40% to 50% of the fuel come from sugar caine ethanol. It would be nice to see gas under 3 bucks a gallon. I would hold my breath though.Huge oil reserve find?!?!?
Brazil is not even a major producer! Lift the worthless sanction off Iran and cheaper oil is guaranteed for sure. There are other things you can do:
-Convince a few hundred million number of people to stop driving and watch oil companies fall apart
-Strong US dollar=cheap commodities
If the US dollar doesn't start retaining its value, I don't freaking care if OPEC decides to ask for Euros in return for their barrels!
IRAQ ALONE HAS 25 PERCENT OF ALL THE OIL IN THE WORLD.THE FOLLOWING CHART IS NO MORE VALID AFTER THE NEW DISCOVERY OF THE IRAQ RESERVE WHICH IS ESTIMATED BY THREE TRILLIONS.
Summary of Reserve Data as of 2007 Country Reserves 1 Production 2 Reserve life 3
(109bbl) (106bbl/d) (years)
Saudi Arabia 260 8.8 81
Canada 179 2.7 182
Iraq 115 3.7 101
Iran 105 2.2 143
Kuwait 99 2.5 108
United Arab Emirates 97 2.5 107
Venezuela 80 2.4 91
Russia 60 9.5 17
Libya 41.5 1.8 63
Nigeria 36.2 2.3 43
United States 21 4.9 12
Mexico
or brazil might decide not to sell any to us
How happy are you about this?!? How much of a decrease in gas prices in America do you think this may lead to? Brazil is part of OPEC, right? We need to straighten out our relations with Brazil and hopefully, gas can fall under $3 a gallon! 33 BILLION gallons!Huge oil reserve find?!?!?
If I were Brazil I'd hoard it just like the US is hoarding ours. I really don't see any reason for them share it with us. They are already far ahead of us as far as alternative fuels go though. I think 40% to 50% of the fuel come from sugar caine ethanol. It would be nice to see gas under 3 bucks a gallon. I would hold my breath though.Huge oil reserve find?!?!?
Brazil is not even a major producer! Lift the worthless sanction off Iran and cheaper oil is guaranteed for sure. There are other things you can do:
-Convince a few hundred million number of people to stop driving and watch oil companies fall apart
-Strong US dollar=cheap commodities
If the US dollar doesn't start retaining its value, I don't freaking care if OPEC decides to ask for Euros in return for their barrels!
IRAQ ALONE HAS 25 PERCENT OF ALL THE OIL IN THE WORLD.THE FOLLOWING CHART IS NO MORE VALID AFTER THE NEW DISCOVERY OF THE IRAQ RESERVE WHICH IS ESTIMATED BY THREE TRILLIONS.
Summary of Reserve Data as of 2007 Country Reserves 1 Production 2 Reserve life 3
(109bbl) (106bbl/d) (years)
Saudi Arabia 260 8.8 81
Canada 179 2.7 182
Iraq 115 3.7 101
Iran 105 2.2 143
Kuwait 99 2.5 108
United Arab Emirates 97 2.5 107
Venezuela 80 2.4 91
Russia 60 9.5 17
Libya 41.5 1.8 63
Nigeria 36.2 2.3 43
United States 21 4.9 12
Mexico
or brazil might decide not to sell any to us
U.S. Government unveils secret of the world's biggest oil reserve which spans Colorado, Utah. Is this true?
The Strategic Petroleum Reserve is the nation's first line of defense against an interruption in petroleum supplies. It is an emergency supply of crude oil stored in huge underground salt caverns along the coastline of the Gulf of Mexico.U.S. Government unveils secret of the world's biggest oil reserve which spans Colorado, Utah. Is this true?
Possibly, but I'm sure that the enviormentalist will find a rare bug or plant within a few hundred miles. Just like AlaskaU.S. Government unveils secret of the world's biggest oil reserve which spans Colorado, Utah. Is this true?
if it is im leaving colorado right now now i acctually have a excuse to leave pass the neo con bs.
Probably not. I heard Montana have some oil mines where they extract oil out of dirt. May be that's what they're talking about.
getting at it is the problem.
enviromentalist wackos will block it as soon as technology can bring it up. if it exists.i think you may be speaking of oil shale.
Yep! They say it is bigger that what is in the Middle East.
I heard during hurricane Katrina, that the government has millions of barrels of oil in reserve, but they didn't say where.
Possibly, but I'm sure that the enviormentalist will find a rare bug or plant within a few hundred miles. Just like AlaskaU.S. Government unveils secret of the world's biggest oil reserve which spans Colorado, Utah. Is this true?
if it is im leaving colorado right now now i acctually have a excuse to leave pass the neo con bs.
Probably not. I heard Montana have some oil mines where they extract oil out of dirt. May be that's what they're talking about.
getting at it is the problem.
enviromentalist wackos will block it as soon as technology can bring it up. if it exists.i think you may be speaking of oil shale.
Yep! They say it is bigger that what is in the Middle East.
I heard during hurricane Katrina, that the government has millions of barrels of oil in reserve, but they didn't say where.
Subscribe to:
Posts (Atom)