I could use some assistance with parts d,e, and f US oil production from EIA and
ID: 2895473 • Letter: I
Question
I could use some assistance with parts d,e, and f
US oil production from EIA and forecasts from ultimates& AEO 4.0 11,0 U=300 Gb "U=250 Gb 3.51-US 9.6 U=230 Gb USL48 C+C U=135 Gb less Tx, ND & deep 3,01 8.2 2 25 HU-80 Gb 6,8 Texas 2,0 U-10 Gb 55 E _-deepwater >1000 ft U- 6.5 Gb 15North Dakota U=20 Gb 10 tAlaska 2,7 AEO 2013 AEO2014 420 Gb AE02015 prelimin 0,5 0.0 0.0 1860 1880 1900 1920 1940 1960 1980 2000 2020 2040 2060 Jean Laherrere Nov 2014 year recent EIA data are overestimated, extrapolating past data 5) The plot above shows US Oil production rate from the start of the US Oil industry into the 21st century, as modeled by the US Energy Information Association (EIA) a. The plot above is a derivative curve family, Q(t). Consider the curve that represents total US production, and the most conservative forecast of that trend (250Gb). Sketch the production curve Q(t) of this trend for the 200 years bounded by 1860 to 2060. Be sure to label your axes with correct units b. Is the total production rate able to be modeled by a continuous function? Explain why or why not c. What is the lim Q()? Explain the meaning of this limit The functions shown above are all above the t-axis. Why? What are the implications for the shape of Q(t)? d. e. Would it ever be possible to have part of Q(t) below the t-axis? Explain why or why not f. What do you think is causing the dramatic increase in production rate in the late 2000s? How does this change the character of this model? What are the short and long term implications?Explanation / Answer
d)
The above are all graphs of Q'
IF they are all above the t-axis, that means, the function Q is ALWAYS increasing. Notice that Q' keeps rising upto a certain point
which means, the Q(t) is increasing at increasing rates upto like 1970 and then starts increasing at decreasing rates from 70 to 2010.
Then it spikes up at insane increasing rates from 2010 to 2015 or so and then it is expected to drop down to decreasing rates of increase later on.
------------------------------------------------------------------
e)
It is impossible to have Q'below the x-axis
because that would mean that over that negative part, the total oil production into the 21st century has decreased and this is impossible as oil cant just disappear outta nowhere.
--------------------------------------------------------------------
f)
the dramatic increase in production rate is most likely caused by US trying to dominate the Oil industry. As we all know, US has stopped purchasing large amounts of oil from Saudi and other countries. So, this is depicting US's increasing independence on oil production. It could also be indicative of a growing need to trade oil with the US, which is what is causing an increased rate of production of oil. Just my two cents!
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.