能源经济 期中考试复习.docx

WCOB 3003H – Spring 2015 Mid-Term Exam (Lessons 1-7) ___________Yinan Li______Total Possible Score = 100 (2 points per question) Name (0 points if left blank)Counts for 25% of final grade)March 9, 2015 (issued approx. 3:00 pm) – 48 Hour Take Home Exam (due March 13th, 2015 at noon). Submit your answers electronically on Blackboard please. Note – this test is OPEN BOOK/COURSE BLACKBOARD WEBSITE/INTERNET, but students may not discuss any questions with other students, however. 1. “Energy Economics” is defined as: _________ the application of the principles of “economic theory and analysis” to the “energy industry.”__________________________________________ 2. ExxonMobil forecasts world oil use to increase from 177 Quadrillion BTUs in 2010 to ___220_____ Quadrillion BTUs by 2040, an increase of _24___ %. Although renewables are forecasted to increase the most among all energy types, i.e., by 329%, it will only represent an increase from 7 Quadrillion BTUs in 2010 to _30____ Quadrillion BTUs by 2040, making it a paltry _13.6_% of Oil by that date. 3. OPEC stands for ____ Organization of Petroleum Exporting Countries ____ It consists of approximately what fraction of energy producers _________ 1/3 of energy producers __________List 5 Supermajor International Oil Companies (IOCs) discussed in class:BP, ChevronTexaco, ConocoPhillips, ExxonMobil, and Royal Dutch Shell.4. List 7 National Oil Companies (NOCs): Petrobras, China National Offshore Oil Company, China National Petroleum Corporation, and Sinopec, Statoil, Gasprom, Rosneft, Saudi Aramco, and Petroleos de Venezuela, S.A.5. List 3 sea lanes of great strategic significance to the movement of oil from the Middle East: the Strait of Hormuz, the Strait of Bab el-Mandab, and the Suez Canal.6. List 4 supply interruptions that led to price spikesOctober 1973 oil embargo was a response to U.S. support for Israel during the Yom Kippur War1978 supply disruption occurred as a result of the Iranian revolution and then t