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In this paper, I develop a model where “exploration” yields information about the size and location of the stock of an exhaustible resource. This information is valuable in two ways. First, before production takes place, reserves must be located through exploration. The process of exploration changes “unproven reserves,” which cannot be produced, into “proven reserves,” which can. One value of exploration, then, is that it allows total production over time to expand (the expansion effect). Second, by exploring in an early time period, a producer gains information about the true stock size prior to making a decision about how fast to exploit reserves. With better information, the extraction rate chosen by the producer...
Categories: Publication;
Types: Citation;
Tags: Energy efficiency,
Greenhouse gas emissions,
Residential buildings
Residential building energy use is an important contributor to greenhouse gas emissions and in the United States represents about 20% of total energy consumption. A number of previous macro-scale studies of residential energy consumption and energy-efficiency improvements are mainly concerned with national or international aggregate potential savings. In this paper we look into the details of how a collection of specific homes in one region might reduce energy consumption and carbon emissions, with particular attention given to some practical limits to what can be achieved by upgrading the existing residential building stock. Using a simple model of residential, single-family home construction characteristics, estimates...
Categories: Publication;
Types: Citation;
Tags: Energy efficiency,
Greenhouse gas emissions,
Residential buildings
In this paper, I develop a model where “exploration” yields information about the size and location of the stock of an exhaustible resource. This information is valuable in two ways. First, before production takes place, reserves must be located through exploration. The process of exploration changes “unproven reserves,” which cannot be produced, into “proven reserves,” which can. One value of exploration, then, is that it allows total production over time to expand (the expansion effect). Second, by exploring in an early time period, a producer gains information about the true stock size prior to making a decision about how fast to exploit reserves. With better information, the extraction rate chosen by the producer...
Categories: Publication;
Types: Citation;
Tags: Energy efficiency,
Greenhouse gas emissions,
Residential buildings
Over fifty years of operations, storage, and disposal of wastes from the U.S. Department of Energy (U.S. DOE) Y-12 nuclear weapons facility at Oak Ridge, Tennessee, USA, has resulted in the contamination of water sediment, biota, and floodplain soils of East Fork Poplar Creek. A preliminary assessment revealed that methylmercury and polychlorinated biphenyls (PCBs) were the contaminants of most concern. Because these contaminants are persistent, accumulate in tissues, and biomagnify up the food chain, piscivorous wildlife are the biota at greatest risk of exposure. The objective of this study was to estimate the risks posed by methylmercury and PCBs to two piscivorous species: mini; and belted kingfishers. We conducted...
Categories: Publication;
Types: Citation;
Tags: Energy efficiency,
Greenhouse gas emissions,
Residential buildings
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