FIN 5550: Energy Business Comprehensive Final (Spring 2018)
A megawatt is how many watts?
1,000,000 watts
In the US, coal was king until ______ when it was replaced by petroleum.
1950
If you had a home with nine 60 watt light bulbs burning, how much energy is being used?
540 watts
Over time, electricity has been responsible for most of the energy consumption growth in the commercial due to the use of what?
Air Conditioning
Who's argument echoed growing concern that the United States and the world itself was growing out of energy?
Alan Greenspan
Who received the Nobel Prize in Physics for his theory of the photoelectric effect>
Albert Einstein
Why did Harold Hamm want to pursue an initial public offering of Continental Resources?
All answers are correct 1) Cash in on some of his holdings in the company 2) Cash to drill the Bakken 3) Get better borrowing rates 4) Compete with EOG and others for employees
You just ate an entire Bloomin' Onion at Outback Steakhouse. It had 3080 calories. Yes -- This is true! How many hours could the amount of energy contained in the Bloomin' Onion power a 100 watt light-bulb?
Around 35 hours
Who was named one of America's top performing executives by Forbes Magazine in 2005?
Aubrey McClendon
What is the name of the important shale oil play located primarily in North Dakota?
Bakken
Which organization assessment put the global oil resource base of conventional and nonconventional resources, including the historical cumulative production of 1.08 trillion barrels, at 4.82 trillion barrels and likely to grow?
Cambridge Energy Research Associate
What was the name of the company based in Enid that became the Nation's largest privately held,"Integrated Energy Company", or one that does everything from exploring and producing oil to refining and selling it?
Champlin Refinery Company
In 1986, there was a major accident at a nuclear power plant that released significant amounts of radioactive material into the environment. The area around the reactor site is still abandoned. Where was the reactor located?
Chernobyl, Ukraine (USSR)
In 2009, which company's public relations machine churned out over twenty releases touting awards it had received and new strategies it had unveiled?
Chesapeake Energy
Which company Stephen Smith(an energy industry analyst) was referring, when he said "The closest thing you're going to find to a Bill Gates story in the Energy industry"?
Chesapeake Energy
What are the winds that are strong enough for low-cost, large-scale commercial electricity generation?
Class 3 winds
The photo illustrates the ____________ segment of the oil and gas industry. (Gas Station)
Downstream
What was the original name of EOG Resources?
Enron oil and gas
Which of the following countries was the largest user of nuclear energy (in % of sources) in 2014 for electric power generation?
France
_______________ created a planned city, named The Woodlands, that would embrace his evolving views on the environment and sustainability? (Note : This question is from the book" The Frackers" and can be answered by reading pages 1-46)
George Mitchell
Which American president warned "America is addicted to oil"?
George W. Bush
Who wanted to discover enough crude to leave a mark on the nation and even the world?
Harold Hamm
______ is/are any organic compound consisting only of carbon and hydrogen.
Hydrocarbons
The above hydrocarbon is known as: (One C and 4 H)
Methane
"This is the fuel of the future, it will be in demand. Everything will change". What was the fuel McClendon was referring in this statement?
Natural Gas
Which energy is the only low-carbon footprint option that is readily available on a gigawatt -level scale?
Nuclear Power
What is considered the world's first true synthetic fiber?
Nylon
What is the photo a picture of? (Looks like 4 plungers stacked)
Pipeline PIG
Crude oil and natural gas reserve estimates are classified in three categories. Which of the following statements is correct.
Proved reserves are also known as P90; Probable reserves are also known as P50; Possible reserves are also known as P10
Which of the following technologies did not contribute to the shale boom during the 2008-2015 period?
Radiography
By weight, this is the largest additive to the water used in typical hydraulic fracturing procedures:
Sand
Which of the following are considered forms of renewable energy. Select all that apply. This question allows you to select multiple answers.
Solar Geothermal Biomass Wind
The natural gas producing Barnett Shale is located in which state?
Texas
What was the name of the 200,000 square mile formation?
The Bakken
What was the name of the shale that ran under much of North Texas? (Note : This question is from the book" The Frackers" and can be answered by reading pages 1-46)
The Barnett Shale
What is meant by the "Seven Sisters" and "New Seven Sisters"?
The Seven Sisters were created by the breakup of Standard Oil in 1911 and created major oil companies such as Exxon, Mobil, Texaco, etc. The New Seven Sisters are the most influential national oil and gas companies outside of the OECD.
Which of the following is not a concern about nuclear power, according to the author of "Energy Myths and Realities" (Smil)?
The possibility of a nuclear explosion as a nuclear power plant.
What provided most of the US energy needs in the early 1800s?
Wood
From 2008 to 2015, U.S. crude oil production increased by:
between 80 and 90 percent.
_________ give up their outermost electrons pretty easily.
copper atoms
An energy transition _______________________________.
encompasses the time that elapses between the introduction of a new primary energy source and its rise to claiming a substantial share of the overall market.
LNG stands for ____ and consists primarily of _____.
liquified natural gas; methane
What was the ownership stake of Mitchell brothers for each well they drilled for the investor group? (Note : This question is from the book" The Frackers" and can be answered by reading pages 1-46.)
one thirty-second
The nucleus of an atom is made up of:
protons and usually neutrons
Finally, when asked to name the world's most important continuously working prime mover, most people would not name the ________.
steam turbine
Lewis Strauss statement on electrical energy should obviously not be taken literally, as even "free" electricity would have to be transformed, transmitted, and distributed to users, requiring the construction and maintenance of an extensive and costly infrastructure?
"Too cheap to meter"
How much did Plains Exploration & Production paid in cash to buy a 20% stake in the Haynesville Shale?
$1.65 billion
How much money did Pickens announce his company would spend of wind turbines for the Texas Panhandle to create the World's largest wind farm?
$2 billion
In July 2008, what was the worth of McClendon's thirty-three million shares?
$2.3 billion
How much did ExxonMobil paid to buy Natural Gas driller XTO Energy, that made Exxon the nation's largest natural gas producer?
$31 billion
What is the Frac Spread for the calculation at the end of the Frac Spread Tutorial handout? See the frac spread tutorial as part of the Midstream lecture in week 4. The problem is on page 2 and this is for the Pop Quiz calculation at the VERY END of this file).
$5.58
What was the worth of McClendon's 18 million shares by late 2005?
$500 million
What was the net worth of George Mitchell when the shares of Mitchell Energy hit twenty-seven dollars?
$700 million
Explain why electric cars are not considered green. That is, they do not really lower carbon dioxide (CO2) output as compared to cars that run on petroleum when they are analyzed fully. Answer the following questions:
(1) What causes electric cars to pollute too? (2) There are conditions where an electric car could have a lot lower carbon dioxide output (CO2). What are these conditions? Electric cars - Explain why they are not green. 1. Electric cars pollute because their electricity is generated from sources that still cause a carbon footprint to be left. They still have to generate the power from somewhere! 2. If the energy that was created to power cars were generated in such a way that they do not leave a carbon footprint, it would be "green".
(1) What did Wallace Carothers discover that made him famous? (2) Did he live to know how great his discovery wa? (3) How did he die? Hint: This is from the video lectures over petrochemicals and Dr. Simkins explains this in the video lecture.
(1) nylon (2) no (3) suicide
List and describe the four key constraints on Wind Power. This question is from Ch. 7: Electricity from Wind of Energy Myths and Realities. Hint: One of the constraints is "Capacity Integration". Be sure to not only list each constraint, but describe it clearly.
1. The energy can't be stored, so it must be immediately used while the power is being generated. 2. Weather is unpredictable. We can't decide when we want the wind to blow! 3. It is not powerful enough. It would require a LOT of turbines to power an entire nation, and there just isn't the space or infrastructure to do so. 4. With so much disruption to the ecosystem (wind), we are unsure of what the effect may be to the environment. (Butterfly effect.) 5. (Bonus! Objects such as birds and bats, the roaring sounds and excessive space are also constraints!)
Calculate the frac spread and explain how it is an important profitability measure for firms operating in midstream (such as MLPs that operate in fractionation of NGLs). [Hint: This is from the lecture on Midstream and there is the Frac Spread Tutorial lecture in Midstream -- Part 2 lecture.] Step 1: Calc NGL Value Step 2: HH natgas price Step 3: Frac Spread
1.12
Calculate the frac spread. A (Price) B (Conversion factor) C = A/B ($/mmBtu) D (Composition) = C*D (Value of NGL) ($/mmbtu)
1.82
What was the US gas production reported by the US Department of Energy in July 2008?
1.86 trillion cubic feet
Calculate the NYMEX 3-2-1 crack spread. Suppose the nearby NYMEX crude futures settled at $40.00 per Bbl, gasoline settled at $1.28/gal and diesel settled at $1.16/ gal. What is the crack spread per barrel.
12.08
How much oil flows through the Strait of Hormuz each day? This is a Unit 1 question but you need to look it up.
17 million barrels
How much gas did Bowker believe was in each square mile of the Barnett shale?
185 billion cubic feet of gas
During the late _______, in the aftermath of the Manhattan Project and the bombing of Hiroshima and Nagasaki, there was no demand for nuclear electricity generation and no economically compelling reason to develop it rapidly.
1940's
The first oil price shock was in ____, with the Arab oil embargo which caused an ______ in oil prices and shattered the consuming countries' complacency about supply security and prices.
1973, rise
What will be the area required to supply 9 PWh of electricity by wind turbines with an average power density 2 W/m2 ?
2.0 million Km2
In what year did the US become a net exporter of petroleum products?
2016
At what wind speeds, the wind turbines machine is shut down to protect the blades and the tower in stormy weather?
25 m/s
According to the author of the book Energy Myths and Realities, a switch to an all electric automobile fleet in the U.S. would require an increase in electrical power generation equal to _____ of all U.S. electrical generation in 2008.
25 percent
What percentage of total capacity could be contributed by wind turbines in Europe without resorting to any excessive buildup of reserve capacity?
30%
In the first two weeks of lectures, we discussed how energy consumption is measured quadrillion btus. We mentioned how we consume about 35 quadrillion btus in oil currently. Which if the following is the correct way to write this number?
35,000,000,000,000,000
In 2010, how much trillion cubic feet of gas would be produced from shale formations?
4.86 trillion cubic feet
The amount of solar energy absorbed by the Earth's atmosphere, land, and oceans every year is approximately equal to __________ times the total energy consumption in the United States.
40,000
If you had a home with nine 60 watt light bulbs burning, how much energy is being used?
540 Watts
What percentage of oil was imported in the USA by the spring of 2006?
60%
How many discussion posts do you need to make this semester and how many points in total are they worth? Note: See the syllabus for details on what types of discussion posts count, how much they are worth, and other requirements.
7, 35 points
If you had a home with nine 100 watt light bulbs burning and you had them on for eight hours, how much energy is being used?
7.2 kW hours (kWh)
From 2008 to 2015, what was the percentage change in U.S. production of crude oil and liquids?
88 Percent
Colonel Drake did the first commercial drilling for oil in 1859. How many years was it before the US used more oil than coal as a source of energy?
90
Which of these is an advantage of horizontal (directional) drilling?
A greater portion of the reservoir is exposed to drilling horizontally versus vertically.
Men who search for oil or natural gas in areas that can be miles from the closest producing well are known as? (Note : This question is from the book" The Frackers" and can be answered by reading pages 1-46.)
A wildcatter
Which of the following crude oils would be considered a light sweet crude oil?
API 32 and 0.5% sulfur
Which of the following is a light sweet crude oil?
API of 30 and 0.5% sulfur
What is the term that a person is called if they buy big chunks of a company and then they pressure the management of the company to make changes aimed at getting shares higher?
Activist Investor
What are the secondary matters that have undoubtedly been restraining the diffusion of wind turbines and that may, in the future, combine to impose significant limits on the ultimate development of wind-powered electricity generation?
All of the above 1) Aesthetic impact of wind farm 2) Wind turbine noise 3) Threat to birds and bats
Why Souki had clear advantages over his rivals when he was hired by an investment banking firm calles Blyth, Eatman Dillon & Company?
All of the above 1) His father remained well known in the region 2) Petroleum potentates trekked to Souki's home to seek advice 3) Petroleum potentates were eager to meet Charif 4) Souki was not intimidated by the wealthy men
What did McClendon do with the money he borrowed from banks, using Chesapeake's stocks as collateral?
All of the above 1) buy additional chesapeake shares 2) finance gas wells 3) pay for all his real estate purchases 4) do commodity trading
How did Tom Ward liked to spend his money?
All of the above 1) huge homes outside okc 2) places in bermuda and bahamas 3) land in western ok 4) owner of cattle and feedlot
Why were the 1980's an awful time in the oil business? (Note : This question is from the book" The Frackers" and can be answered by reading pages 47-90)
All of the above. 1. Growing supply from the North sea 2. Oil fields in California hit historic peaks 3. Some members of OPEC ramped up production
What were some of the factors that halted, and then reversed, the nuclear expansions?
All of the choices 1) Major delays in construction 2) cumbersome regulations 3) Drop in electricity demand 4) Shortage of skilled labor
What were the forecasts of peak-oil theorists, especially the doomsday scenarios, in the coming decades?
All of the choices are correct 1) Starvation 2) Mass unemployment 3) near stone-age conditions
What was McClendon third "business model" for Chesapeake?
All of the choices are correct. 1) Catch up to EOG in Eagle Ford 2) Expansion in Niobrara Shale 3) Gobble up land in Utica Shale 4) Expand in the Marcellus Shale
Which of the following is not an advantage of solar power?
All of these are advantages of solar power 1) Sustainable 2) Sustainable 3) Geographically widely available 4) does not contribute to climate change because it does not generate CO2
The change in the U.S. production of crude oil and liquids, during the 2008-2015 period, represented what percentage of the entire world's increase in production?
Almost 70 percent
This type of ionizing radiation is not very penetrating and can be stopped by the skin.
Alpha radiation
Inventor Charles F. Kettering held a total of 186 patents. Many of his inventions were very influential in the automotive industry, including the development of Freon refrigerant for air conditioning systems, leaded gasoline to reduce knocks (with Thomas Midgley), and __________.
An electric starter that eliminated hand cranking to start gasoline-powered automobiles.
What petrochemical product is this (helps her family)? This is to illustrate the importance of the petrochemical industry. Hint: This is from the video lectures over petrochemicals.
An insulin pump
In 1978, who wrote in Scientific American that "the supply of oil will fail to meet increasing demand before the year 2000"?
Andrew Flower
What are hydrocarbons?
Any organic compound consisting only of carbon and hydrogen.
The most popular fast-food menu choice according to a 2013 Gallup poll is Burger King's Whopper Sandwich. Let's assume you just ate one with cheese. It has 760 calories (assuming you had no french fries!). Did you ever think about how much energy it contains? We talk a lot about energy in this course and food is a source of energy too. How many hours could the amount of energy contained in the Whopper power a 100 watt light-bulb?
Around 9 hours
Which of the following is not a reason for the collapse in oil prices in 2014?
Attempts by the U.S. Government to lower oil prices
Who asked Rolling Stone magazine in March 2012 " We frack all the time. What's the big deal? Where is the mushroom cloud?... Where are the dogs with one leg?"
Aubrey McClendon
Who emerged as a spokesman and cheerleader for Natural gas fracking and shale drilling that helped the company attract more attention and investor interest?
Aubrey McClendon
Who is being referred in this statement "******** it, if we can't give him one percent of what he's made the company, what balance is there? This man has performed brilliantly."
Aubrey McClendon
Who said " Some people are born with art or science influence; I've always liked places and geography"?
Aubrey McClendon
Who said "I just play the stock market, I play the commodity markets. Sometimes I win, sometimes I lose."?
Aubrey McClendon
Who spoke to the students and faculty at Harvard University about how natural gas was "fueling America's clean energy future"?
Aubrey McClendon
Who stated" Those who move first to lock in big new acreage positions when technology changes emerge as the winners"?
Aubrey McClendon
Whom did The Daily Oklahoman call a "One-man economic boom"?
Aubrey McClendon
Which of the following countries was the second largest user of coal (in % of sources) in 2014 for electric power generation?
Australia
Which of the following countries was the second largest user of coal (in % of sources) in 2014 for electric power generation? This question was asked on one of your assignments.
Australia
_______ is a market situation where prices are progressively lower in distance delivery months as the image illustrates. Hint: From the Midstream lecture.
Backwardation
The landman profession is uniquely American.That's because the United States is among the few countries in which citizens, rather than the government, own the mineral rights under their own properties.
Bill Clinton
From the API reading: Which renewable fuel is expected to provide the greatest percentage of our energy needs in 2040 in the US?
Biomass
From the API reading. What are the five types of renewable energy?
Biomass, hydropower, geothermal, wind, and solar
Who wanted to hire those who "grew up poor and were disciplined by their parents, including corporal punishments"?
Bob Simpson
Which company adopted a tag line"America's Champion of Natural Gas"?
Chesapeake Energy
Answer the following questions from the Guest speakers lecture: 5. List one or two companies that they mention that COP has a JOA with.
Chesapeake Energy and Anadarko
Which of the following countries used the greatest % of coal in 2014 for electric power generation?
China
What provided most of the US energy needs by the early 1900s?
Coal
What are significant sources of energy used in US electricity generation? By this, we are referring to sources that provide at least 5 % of the power. Select all that apply.
Coal Renewables Nuclear Natural Gas
What are the 3 forms of fossil fuels?
Coal, natural gas, and petroleum.
_______ is a market situation where prices are progressively higher in distance delivery months as the image illustrates. Hint: From the Midstream lecture.
Contango
By 2010, which company had figured out how to drill four wells from a single drilling "pad" - a technological innovation, that pushed crude production higher?
Continental Resources
What did Edmond Becquerel do?
Created the first photovoltaic cell at age 19.
At the end of 2008, which country was far ahead in installed wind generating per-capita capacity?
Denmark
What type of fuel has the highest BTU per volume? Hint: From the Ch. 3 Energy Economics lecture.
Diesel
Which type of fuel has the highest btu per volume? Hint: This is from the lecture on Ch. 3: Energy Economics, from the book Energy Finance and Economics. We will even make this question easier by showing the exhibit from the chapter that is discussed in the lecture when we answer this question.
Diesel
Refining and marketing are part of __________ in the energy value chain.
Downstream
What was the name of the 400-mile long shale stretching from the Mexican border south of San Antonio to the north of the city of Austin?
Eagle Ford
Who patented an explosive devise in 1865 to stimulate oil well?
Edward Roberts
Who was the first person to drill oil in the USA in 1859? (Note : This question is from the book" The Frackers" and can be answered by reading pages 47-90)
Edwin L. Drake
As discussed in the lecture and the book "Energy Myths and Realities," in the late 19th Century, three technologies competed to power the automobiles of the future. The three technologies were:
Electric, steam, and gasoline
In the late 19th Century, three technologies competed to power the automobiles of the future. The three technologies were:
Electric, steam, and gasoline
______________ is the cleanest, quickest and most cost-efficient way to extend today's energy supply in the future. Select the best answer. This is from the API reading.
Energy efficiency
Which town in being referenced as "one of the last Leave It to Beaver towns where everyone knows each other"?
Enid
What is the most important natural gas liquid (NGL) as a feedstock to the petrochemical industry? Hint: This is from the Midstream lecture.
Ethane
Which natural gas liquid is used to make the base chemical, ethylene?
Ethane
Three specific petrochemicals from Stage 1 form the foundation of the industry. This is from the lecture on petrochemicals.
Ethylene, propylene, and benzene
Who said " It is more likely to see snow in New York in July than to see exports of gas from LNG terminals in the United States."
Fadel Gheit
"Rates of return get pretty minimal below sixty dollars", Harold told a Forbes reporter. (True or False)
False
According to the article entitled, "Myths and Facts on Wastewater Injection, Hydraulic Fracturing, Enhanced Oil Recovery, and Induced Seismicity," by Rubinstein and Mahani (Seismological Research Letters, 2015), hydraulic fracturing is the primary cause of the large change in seismicity that has been observed in the U.S. (True or False)
False
From the API reading, Energizing American: Facts for Addressing Energy Policy. Growth in world oil consumption is expected to be concentrated in OECD countries. This statement is:
False
George Mitchell said " There's more gas than you think in the Barnett...The prize is bigger''. (True or False)
False
In 2012, Rex Tillerson, ExxonMobil's chief, said, "We're all losing our shirts today," due to tumbling oil prices. "We know we're making no money." (True or False)
False
In OECD countries, consumption has recovered to a level equal to that prior to the recession in 2008. (From Ch. 3 Energy Economics and updated class lecture)
False
In the case of primary energy supply, the time span needed for significant market penetration is mostly a function of financing, developing, and perfecting necessarily inexpensive infrastructures. True or False
False
Ivanhoe is the patron saint of peak-oilers, considered an infallible and prescient seer because, as we are repeatedly reminded, he correctly predicted the peak of U.S. oil production in 1970
False
Mc Clendon and Ward shared details of their trading with shareholders or members of Chesapeake's board of directors. (True or False)
False
McClendon and Ward seized on a plan: If they could lock up wells throughout the country already producing natural gas, and then employ fracking and other improved techniques to extract additional gas from their acreage, a historic fortune could be theirs. (True or False)
False
McClendon and Ward seized on a plan: If they could lock up wells throughout the country already producing natural gas, and then employ fracking and other improved techniques to extract additional gas from their acreage, a historic fortune could be theirs. (True or False)
False
Natural Gas is a heavy hydrocarbon that comes from the compressed remains of plants and animals. (True or False)
False
Plutonium-239 is a fissile material that is frequently found naturally with Uranium and Radium. True or False
False
The United States has strong and essentially continent-wide north-south as well as east-west connections, while the Europe does not have comparably capable national network. (True or False)
False
The breakeven prices for shale wells in the same shale plays are getting higher every year because the industry is becoming less efficient. This statement is: True or False
False
The water used in their old formula had gummed up fractures in the rock, preventing natural gas from flowing. (True or False)
False
Congratulations! You have just been hired by Refiners-R-Us. As part of your initial training, you have been asked to calculate the profit per barrel for the crude oil shown below. Select the answer for the profit per barrel -- the refining margin.
-0.25 per barrel
By the 1930s, there were __________ commercial makers of electric automobiles in the U.S.
0
Solar power accounts for approximately _____ percent of global electrical generation.
1
Rank the following electric power units from smallest to largest, where the smallest is 1 watt and the largest is 1 x 10 ^ 15 (1,000,000,000,000,000) watts.
1 - Smallest; 6 - Largest 1) Watt 2) Kilowatt 3) Megawatt 4) Gigawatt 5) Terawatt 6) Petawatt
Which of the following is a megawatt?
1,000,000 watts
Nuclear fission is the process that powers the sun. (True or False)
False, Fusion
The nuclei of certain light elements can split, releasing a lot of energy. (True or False)
False, heavy elements
Material capable of sustaining a nuclear fission chain reaction with neutrons of any energy is known as __________.
Fissile
What was McClendon referring to when he said "What I never dreamed could happen, did happen?"
Forced selling of his Chesapeake shares
What is the process of breaking up rock formation by pummeling rocks with various liquids,creating pathways for natural gas to flow to the surface, known as ? (Note : This question is from the book" The Frackers" and can be answered by reading pages 1-46)
Fracking
_______ is a process of converting natural gas into a liquid form. This process also chemically changes the natural gas to a longer chain molecule that is a middle distillate such as diesel fuel.
Gas to liquids (GTL)
Which movie gained an academy award nomination and helped shape popular opinion about fracking?
Gasland
As discussed in the lecture, which actor famously posed with his new electric automobile? This question is from the chapter about electric cars.
George Clooney
Which bank executive told McClendon "Come up with more collateral fast or we're going to have to sell your shares to help satisfy your debts?"
Goldman Sachs
In 1949 __________ performed the first commercial hydraulic fracturing jobs in Texas and Oklahoma.
Halliburton
The first commercial hydraulic fracturing jobs, in 1949, were performed by which company?
Halliburton
The Shelly Dean Oil Company was founded by:
Harold Hamm
Who has been referred in this statement" He was just another good, hard working guy who was grinding it out and making money. No one accused him of genius...The smart money would have bet against him,not on him."
Harold Hamm
Who was being referred to in this statement" He acted tough, talked with an Okie accent, and used the wrong words... he didn't sound smart unless you really listened to him, and then you realized he was brilliant".
Harold Hamm
What was the job which led Harold to think" Holy cow, this is what I want to do"
Hauling water to oil and gas drilling sites
What is the hard hat made of that Dr. Simkins is wearing on the petrochemical lectures? She explains this in the video. Hint: This is from the video lectures over petrochemicals.
High Density Polyethylene
Which company developed cyclic steam simulation in Alberta that injects hot pressurized steam into well bores and then leaves the steam to soak for a period ranging from a few months to three years to loosen the bitumen; the heated bitumen water mixture is then pumped to the surface?
Imperial oil
As shown in Figure 4-1b, which of the options below best describes how the average global per-capital consumption of primary energy has evolved over 1950 to 2010. This question is from Chapter 4: Running Out: Peak Oil and Its Meaning, from Energy Myths & Realities.
It has increased over the time period.
Answer the following question: "How is refining doing?"
It is all in the crack. If the crack is good, refining is good!
Who said "You should ask Aubrey to help. He's been finding lots of gas in places no one thought it could be found"?
Jason Selch
Who said " With traditional drilling it's like a door-to-door salesman, most people say no and then you get a yes once in a while"?
Jerry Box
Answer the following questions from the Guest speakers lecture: 6. What is a JOA?
Joint Operating Agreement
Who said this quote "I felt like the only person in the country who knew how much gas was in the shale"?
Kent Bowker
What was the name of the pipeline that promised to add over 800,000 barrels of Canadian tar-sands crude each day to U.S. energy supplies, potentially lowering prices still further?
Keystone XL
According to what person, did they say that the end of the oil era in the near future will bring "the inevitable doomsday" to be followed by "economic implosion," which will make "many of the world's developed societies look more like today's Russia than the U.S."?
L.F. Ivanhoe
What percentage of US gas production came from Shale Fields in 2005?
Less than 5%
Who assumed that the extraction of any mineral resource follows an exhaustion curve that conforms to the normal symmetrical, bell-shaped distribution; there is no prolonged plateau, and the peak output is rapidly followed by a decline whose course mirrors the production rise?
M. King Hubbert
The figure illustrates a business form (see the box called Phillips 66 Partners LP) that trades on a public exchange where 90% of the qualifying revenue is due to natural resource activities. This business form is very important to the energy industry and is a way to raise capital where the parent company still controls the assets. This was discussed in the Midstream lecture.
Master Limited Partnership
What is the major component of natural gas?
Methane
Fertilizer is made primarily from which feedstock into the chemical industry?
Methane (natural gas)
Who shared a similar family history with George Mitchell-They both were sons of poor Greek immigrants who had changed their names shortly after arriving in America?
Michael Johnson
Pipelines and storage are part of __________ in the energy value chain.
Midstream
Since 2006, what has been the fastest growing sector of the oil and gas industry
Midstream
What is the fastest growing sector of the energy value chain? This is from my lectures on the energy value chain.
Midstream
_________ is a term often used to describe the processing, storage and transportation sectors within the oil and gas industry. It defines the industry processes that occur between the upstream and downstream sectors.
Midstream
___________ is the observation that the number of transistors in a dense integrated circuit doubles approximately every two years and is associated with price declines.
Moore's Law
What did Bill Stevens told Mitchell Energy board members about the Barnett Shale?
Moose pasture land
What are the three principal feedstocks for the chemical industry. (I do not mean the base petrochemicals. I am asking about the feedstocks into the chemical industry.)
Naptha, natural gas, and natural gas liquids
Who owns the majority of hydrocarbon assets in the world? This is from the API reading.
National Governments
What was McClendon referring to when he said " We have found something that can liberate us from the influence of OPEC, that can put several millions Americans back to work, liberate us from four-dollars gasoline. It is too good to be true? Sometimes it seems that way."
Natural Gas
What was the name of Chesapeake's first well drilled on June 27,1989 in Grady County, Oklahoma?
Newby 1-1 well
Refining and marketing is known collectively as ___________.
No choice is correct (Should be Downstream)
Are electric cars really "green"? Why or why not? This is a discussion question.
No, because the energy still must be created by something. Electric cars that run on batteries must have the batteries created and electricity will be utilized. Considering the usage was estimated to require a 25% increase in electricity in the United States, this is quite a significant bump, and it is usually derived from coal, natural gas, etc. Also, through some of my independent studies I have found that there are still carbon emissions from electric vehicles. The energy is still being created to produce, recharge and sustain batteries, so they are not as "green" as people think. Solar energy would be a much better solution, as the sun will be emitting energy whether we collect it or not.
Which petrochemical feedstock (hint: think of a natural gas liquid) is the most important, #1, to the petrochemical industry. Which is #2?
None of the answers are correct Correct answers: Ethane & Propane
Which of the following is not a reason why the shale boom occurred in the U.S.?
None of these are correct - All are reasons 1) Concentration of expertise 2) Water availability 3) Transportation infrastructure 4) Many independent E&P firms willing to take risks
Until the oil boom, which state had been the only state to see its population shrink since the 1930's?
North Dakota
Which of the following countries was the largest user of hydropower (in % of sources) in 2014 for electric power generation? Remember that hydropower is a renewable energy source.
Norway
Which complexes, centered on large nuclear plants and located in coastal desert areas, were to produce energy for the desalinization of sea water, synthesis of fertilizers, industrial activity, and intensive crop cultivation that would make desert habitable?
Nuplexes
What is considered the world's first true synthetic fiber? This question is from the petrochemical lecture.
Nylon
Which city did McClendon care about and was determined to help it reinvent itself as a cultured and world-class city?
Oklahoma City
In the petrochemical industry, the hydrocarbon molecule that is "cracked" and then has a double bond becomes very reactive. This type of molecule is very important to the petrochemical industry. For this reason, I like to say (and I say it in the lecture on petrochemicals), _______ just want to have fun.
Olefins
Which of the following best describes the view of the author of Energy Myth and Realities with respect to electric powered automobiles?
Pessimistic
Who in his acceptance speech for the Binneial OPEC Awards in 2006 concluded that today's peak-oilers, much like their predecessors, will soon proved wrong; that the present contribution of oil and natural gas to the global total primary energy supply will decline only modestly by 2050; and while natural gas will become the leading fossil fuel, the oil industry at the end of the twenty-first century will still be larger than it was in 2003.
Peter Odell
What provided most of the US energy needs by the early 1950s?
Petroleum
What provided most of the US energy needs by the early 2000s?
Petroleum
What was Tom Ward referring to when he said "I missed the enormity of the change?"
Plunging gas price
You just purchased a bottle of your favorite soft drink at the convenience store. This bottle is most likely made from which of the following plastics? (Hint: This question is from the Petrochemicals lecture.
Polyethylene terephthalate (PETE)
What is the second most important natural gas liquid (NGL) as a feedstock to the petrochemical industry? Hint: This is from the Midstream lecture.
Propane
__________ is sand or similar particulate material suspended in water or other fluid and used in hydraulic fracturing (fracking) to keep fissures open.
Proppant
The nucleus of an atom is made up of __________ and usually a similar number of neutrons.
Protons
Which mineral comprised nearly half of the mineralogy of the shale rock? (Note : This question is from the book" The Frackers" and can be answered by reading pages 1-46.)
Quartz
The man responsible for the U.S. Navy's nuclear propulsion program.
Rickover
Answer the following questions from the Guest speakers lecture: 4. Types of interests
Royalty Interest (RI), Working Interest (WI), and Overriding Royalty Interest (ORRI).
What petrochemical product is used in baby diapers that Dr. Simkins explains in her lecture? This is to illustrate the importance of the petrochemical industry. Hint: This is from the video lectures over petrochemicals.
SAP
Which of the following countries was the largest user of petroleum (in % of sources) in 2014 for electric power generation?
Saudi Arabia
What was the group name that petitioned the department of Commerce to impose tariffs on crude oil coming from Saudi Arabia,Mexico,Venezuela and Iraq?
Save Domestic Oil Inc.
George Mitchell's father was named __________ and was an immigrant from __________ . (Note : This question is from the book" The Frackers" and can be answered by reading pages 1-46.)
Savvas Paraskevopoulos; Greece
What is the most expensive way to transport oil? Hint: This is from the Midstream lecture.
Semi-truck
What was the price of natural gas during the early 1950's? (Note : This question is from the book" The Frackers" and can be answered by reading pages 1-46)
Seven cents per thousand cubic feet
What was the nickname coined for farmers, ranchers, and homeowners who became wealthy leasing drilling rights to their properties in the shale formations?
Shale-ionaires
What was the name of an exploration company Harold Hamm incorporated in 1967 at the age of twenty two?
Shelly Dean Oil Company
Which group applauded the push into shale drilling, hoping natural gas might take market share away from dirtier coal and oil sources?
Sierra club
Which of the following choices was one of the technologies behind the shale oil boom in the U.S. from 2008-2014?
Slickwater
If solar power technology could be 20% efficient at turning solar power into electricity, we would need to cover a land area the size of __________ to power the entire earth.
Spain
What is the nickname that Dr. Simkins gave the electrical engineering course that teaches about electrical power?
Sparks and magic
The photo shows the world's first true gusher in the year 1901 in Texas. This event marks the beginning of the modern petroleum industry. The name of this famous oil well is:
Spindletop
Which"Chokepoint" has the most crude oil in the world flow through it daily and how much flows through it? This question is from the "Midstream" lecture.
Straight of Hormuz, 17 million barrels per day
Which one of the companies operate large excavators in sprawling, opencast mines in Alberta oil sands and use the world's largest off-road trucks to take the sand to extraction plants, after which the liquid goes to upgrading facilities that convert it to light, low-sulfer crude oil.
Suncor
The photo shows an image of the Haiti and Dominican Republic border -- during the day and at night. Haiti is on the left and the Dominican Republic is on the right. Notice how Haiti has a lot fewer trees than the Dominican Republic and notice how the night images are different. What is the main reason for this great contrast between the two countries? Hint: This question is from the week 1 Introductory lecture.
The Dominican Republic decided many years ago to import natural gas for energy instead of relying on wood as the major source of fuel, whereas Haiti did not do this.
See the discussion post about "OPEC and Non-OPEC Alliance could be formalized" in the folder for Comments about Current Events. Read the article (link provided in post) and answer the question:
The UAE oil minister, al-Mazrouei, is impressed at how well the OPEC and non-OPEC partnership is working, particularly with production data showing a high level of compliance to the agreement.
What was the name of George Mitchell's planned city that would embrace his evolving views on the environment and sustainability? (Note : This question is from the book" The Frackers" and can be answered by reading pages 1-46)
The Woodlands
Experimental Breeder Reactor #1 (EBR-1) was one of the first nuclear power plants to generate electricity, however its primary purpose was to prove which theory?
The capture of neutrons by uranium-238, producing plutonium-239, would produce more fuel than consumed in the process.
In the syllabus lecture and about me, Dr. Simkins explained why she is referred to as an "Ex Con". What is the reason?
This is a name given to people who worked for Conoco in the past. She worked for them too.
Look at the image and select the best answer to this question. Levels of tubes picture.
This is the NGL fractionation process.
For years natural gas was constrained by the lack of reliable pipelines. The improved welding technology resulting from applications developed during World War II allowed for the construction of a viable transportation and distribution network. True or False
This statement is true.
__________ developed a high-density nickel-iron-alkaline battery that has come to be used mainly as a dependable standby source of electricity rather than a competitive prime mover for electric vehicles.
Thomas Edison
__________ was an early proponent of electric-powered automobiles.
Thomas Edison
Why did McClendon and Ward arranged lines of credit at major Wall Street firms?
To make trade in personal accounts
Why did Thomas Midgley add tetraethyl lead to gasoline?
To reduce engine knock.
Who said "If I wouldn't have taken on debt, I would still be on a tractor"?
Tom Ward
Which US sector is responsible for the largest petroleum consumption? Hint: From the Ch. 3 Energy Economics lecture.
Transportation
Which sector in the US accounts for the largest consumption of petroleum? Hint: This question is from the lecture on Energy Economics (Ch. 3 of Energy Finance and Economics).
Transportation
A major advantage of nuclear power is that it does not generate greenhouse gases that contribute to climate change. True or False
True
A major disadvantage of solar power is that it is intermittent. (True or False)
True
An important disadvantage of solar power is that batteries to store electricity generated by solar cells are expensive. (True or False)
True
Commodity chemical prices are more cyclical than specialty chemical prices. (True or False)
True
Fossil fuels are forecast to continue to play leading roles through 2040 both for the US and the world. Hint: This question is from the API reading and lectures on "Energizing American". True or False
True
George Mitchell knew all about the gloomy history of various regions of the country, and about how disappointing shale and other unconventional rock had been. (True or False)
True
If we are guided by Gore's specific goals, it is rather easy to quantify America's repowering challenge. In 2008, the country generated about 3.75 PWh in fossil-fueled and nuclear stations, the two nonrenewable forms of generation that Gore wants to have entirely replaced by renewable conversions. Accordingly, even if all requisite new HV transmission interconnections were in place, slightly more than two units of generating capacity in wind and solar would be needed to replace a unit in coal, gas, oil, and nuclear—and the country would have to build about 1,740 GW of new wind and solar capacity in a decade, 1.75 times as much as it built during the past fifty or more years. True or false?
True
Oil Drilling, Inc was the name of the company Mitchell brothers opened with the third partner in downtown Houston in 1946. (True or False)
True
Oil still dominates at the most economical and efficient fuel. This statement is: True or False
True
Patrick Moore, the Co-founder of Greenpeace, and many other believed that nuclear generation is the best and most readily available choice for preventing rapid and possibly catastrophic global warming. (True or False)
True
Scientists predict the sun will turn into a red giant in approximately 5-6 billion years. (True or False)
True
Sweet crude has less than 1% sulfur content and sour crudes have greater than 1% sulfur. This statement is:
True
The US can now export crude oil as of January 2016, the first time in the last 40 years. This statement is: (True or False)
True
The average iPhone uses more energy than a midsize refrigerator over a year, if the phone's wireless connections, data usage, and battery charging are included. This statement is:
True
The law in Oklahoma was such that a land owner could either lease his land to those wishing to produce oil or gas on it, or drill acreage himself. (True or False)
True
The proposals by Gore, Pickens, and others about changing energy sources is that they ignore one of the most important realities: the inherently slow pace of energy transitions. True or False
True
The quintupling of world oil prices in 1973-1974 had a decidedly negative effect on nuclear fortunes. (True or False)
True
The refining industry and petrochemical industry are cyclical industries. (True or False)
True
Who is the world's largest natural gas producer? (Hint: Look at the API reading.)
United States
What are the 3 sectors of the Oil and Natural Gas industry? In other words, what are the sectors of the energy value chain.
Upstream, midstream, and downstream
What was the sophisticated financing scheme called that would led Chesapeake to receive upfront cash in exchange for oil and gas production to be delivered over a number of years, in a financial vehicle setup by Wall Street Investment banks?
Volumetric Production Payment
What is Steinsberger referring to when he said" They started slowly, but they kept on going".
Wells that relied on his new watery fracking fluid
What are the two leading global benchmark crude oils, including the location of the crude oil.
West Texas Intermediate at Cushing, OK and Brent in the North Sea (UK)
The US benchmark crude oil is __________ and the location for the pricing that is quoted is _______.
West Texas Intermediate; Cushing, Oklahoma
Describe the potential of Wind Power, as they author describes from Ch. 7: Electricity from Wind of Energy Myths and Realities. In other words, what are the forecasts for wind power? Is the growth certain? Why or why not?
Wind power only has the potential to replace about 30% of the energy needs. The forecast for wind power are pessimistic, because there doesn't seem to be enough reward for the cost. Growth has been happening, but nothing is certain. Especially with the outlook. Also, most people are beginning to become heavily interested in solar power and biofuels!
In 1985/86, Saudi Arabia's jettisoning of the swing producer role and adoption of netback pricing triggered _____ in oil prices.
a sharp decrease
Over time, electricity has been responsible for most of the energy consumption growth in the commercial sector due to the use of what? Hint: From Chapter 3 Energy Economics lecture.
air conditioning
Consumption amongst non-OECD countries can be described how over the recent 15 years? (From Ch. 3 Energy Economics)
an almost linear trend upward
An isotope is:
any of two or more forms of a chemical element, having the same number of protons in the nucleus but having different numbers of neutrons in the nucleus.
The number of protons an atom has tells us the __________.
atomic number
Ethane when cracked becomes _____.
ethylene
What are the three sectors that the electric industry is broken into?
generation, transmission & distribution, and retail sale of electricity
A variant of a particular chemical compound that differs in the number of neutrons in the nucleus is known as a(n) __________.
isotope
The hydraulic fracturing fluid used by Nick Steinsberger to successfully fracture shale near Ft. Worth, Texas is known as slick water because:
it has additives to reduce friction between the water and the pipe.
According to the API reading, the US is expected to need about ___ % more energy and the world is expected to need ___ % more energy by 2040. Choose the best answer.
less than 10%; more than 50%
What is a good example of when a very significant buildup of unbalanced electrons move in air?
lightning
A popular reactor design is the pressurized water reactor, which uses water as the coolant. However, the Experimental Breeder Reactor #1 (EBR-1) used __________ as the reactor coolant.
liquid sodium and potassium metal
The simplest hydrocarbon molecule with only one atom and four carbon molecules is _______. It is forms the major part of natural gas (over 90%). The photo illustrates the molecule.
methane
Based on the API reading (Energizing American) and video lecture, the current forecast is that the world is expected to require ___ more energy in 2040 than in 2010.?
over 50% more
The October 1973 Embargo and the production effects of Iranian Revolution followed by the last 1970s Iran-Iraq war had a similar effect on oil prices. What was this effect?
prices more than doubling
Answer the following questions from the Guest speakers lecture: 2. What do they do in Real Property Administration at ConocoPhillips?
property maintenance and division orders.
What is one of the most used indicator of industrial activity in the upstream (which also impacts the oilfield and equipment sector) part of the oil and gas industry?
rig count
What is the nickname that Dr. Simkins gave the electrical engineering course that teaches about electrical power?
sparks and magic
Answer the following questions from the Guest speakers lecture: 3. Types of ownership
surface ownership and subsurface ownership.
One of the most pressing questions about the future of energy is the outlook for __________________________. Substantial use of "this" can impact every segment of the energy industry and has the potential to be as significant as the introduction of steam ships.
the adoption and use of electric vehicles (EV)
Geologist, Kent Bowker was hired away from Chevron by Mitchell Energy. He irritated many in his new company by stating that he believed _______________. (Note : This question is from the book" The Frackers" and can be answered by reading pages 47-90.)
there was a lot more natural gas in the Barnett shale than the Mitchell people believed.
An isotope of hydrogen that has two neutrons in the nucleus is known as __________.
tritium
