Estimate the lifetime of energy resources of Eldorado. The country of Eldorado, population 34 million, area 160,000 sg miles, enjoys fossil fuel resources equivalent to 40 billion barrels of crude oil. Currently, Eldorado's per capita energy use, all from fossil fuelresources, is equivalent to 30 barrels/year. Use the formulae we worked out in class to determine the lifetime of Eldorado's fossil fuelresources, assuming: An annual population growth of 1.5% and an annual per-capita-energy-use a- growth of 2.0%. b- The following annual population growth and per-capita-energy-use growth profiles: population i. first 5 years: ii. the 10 years following the first 5 years: ii. thereafter: 1.5% 1.0% 0.5% per capita energy use i. the first 5-year period: ii. the second 5-year period: iii. the third 5-year period: iv. the fourth 5-year period: v. thereafter: 2.0% -1.0% - 5.0% - 8.0% flat (0.0%) Formula to be used : a = aoert A = aoert A = ao from t to 0 ao A = [ert – 1] Where: a is the rate of use in general, ao is the rate of use, A is the total resources, time(number of years).

Estimate the lifetime of energy resources of Eldorado. The country of Eldorado, population 34 million, area 160,000 sg miles, enjoys fossil fuel resources equivalent to 40 billion barrels of crude oil. Currently, Eldorado's per capita energy use, all from fossil fuelresources, is equivalent to 30 barrels/year. Use the formulae we worked out in class to determine the lifetime of Eldorado's fossil fuelresources, assuming: An annual population growth of 1.5% and an annual per-capita-energy-use a- growth of 2.0%. b- The following annual population growth and per-capita-energy-use growth profiles: population i. first 5 years: ii. the 10 years following the first 5 years: ii. thereafter: 1.5% 1.0% 0.5% per capita energy use i. the first 5-year period: ii. the second 5-year period: iii. the third 5-year period: iv. the fourth 5-year period: v. thereafter: 2.0% -1.0% - 5.0% - 8.0% flat (0.0%) Formula to be used : a = aoert A = aoert A = ao from t to 0 ao A = [ert – 1] Where: a is the rate of use in general, ao is the rate of use, A is the total resources, time(number of years).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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