The effect of opening up ANWR to drilling on the current price of oil

The Effect of Opening up ANWR to Drilling on the Current Price of Oil R. Morris Coats and Gary M. PecquetEveryone knows that oil discovered today, perhaps in the Alaskan National Wildlife Refuge (ANWR), has no effect on prices until that oil hits the market. For instance, on its website, the Democratic Policy Committee, (http://democrats.senate.gov/~dpc/pubs/107-1-72.html) states that “it will require seven to twelve years from approval before there is any oil production from the ANWR area. Therefore, production in ANWR will have no impact on current or short-term gasoline and oil supplies and prices.” While this is something that everyone seems to know, it is a case that the theory held by everyone just happens to be wrong. Since future prices are expected to be lower, future profits are also lower, so the value of oil not produced now, but held for future sales, is lower, making it more profitable to go ahead and produce and sell now instead of waiting for future profits. Using oil now reduces the amount of oil available for the future, which involves the opportunity cost of forgone future profits, which are sometime called the marginal user costs or scarcity rents. In this paper, we use simple two-period models to show that if an amount of newly discovered oil is significant enough to reduce prices in the future, any drop in future prices reduces the future profitability of oil, reducing the marginal user costs of oil now. That reduction in the marginal user costs reduces the current price of oil just as if there were a reduction in the marginal costs of extracting oil now. We explore the effects of the reduction in marginal user costs in the competitive or price-taker case as well as the price-searcher case, where a monopolist or dominant supplier responds to a substantial discovery by another seller, but where the discovery will not contribute to production for some years to come. In both cases, we find that oil that is expected to reach the market at some time in the future has an immediate impact on oil prices. Topic Area: Q4 EnergyANWR; resource discovery; timing of price impact; speculation

Airborne electronically steerable phased array

Results of a study directed to the design of a lightweight high-gain, spaceborne communications array are presented. The array includes simultaneous transmission and receiving, automatic acquisition and tracking of a signal within a 60-degree cone from the array normal, and provides for independent forming of the transmit and receive beams. Application for this array is the space shuttle, space station, or any of the advanced manned (or unmanned) orbital vehicles. Performance specifications are also given

Electromagnetic interactions of high energy cosmic my muons

Electromagnetic interactions of high energy muons incident in the nearly horizontal direction at Durham, I98 ft. above sea level, have been studied by detecting electron-photon bursts produced in iron absorbers. Over the measured burst size range, bremsstrahlung and knock-on electron production were the predominant energy transfer processes. No divergence from accepted theory has been observed for energy transfer in the range 3 - 240 GeV. A second burst experiment has been performed to measure the spectra of nuclear-active particles incident at Durham in the nearly vertical direction. The observed spectra of both charged and neutral nuclear-active particles show a discontinuity at energies >100 GeV, which can be taken as support for the SU(_3) prediction that a protonis a tightly bound system of three charged quarks. This interpretation would indicate a quark mass of 10 GeV, and that high energy protons dissociate into their constituent quarks in about l8^ of their collisions above threshold (18OO GeV). A further implication isthat quarks interact strongly in the atmosphere, otherwise telescope detectors would have recorded an abundance of quarks. A decrease-2in the nucleon attenuation length from 127 gm. cm to a value ofp117 gm. cm(^-2) for sea level nucleon energies > 100 GeV would also account for the observed discontinuity

Understanding the English Bible: A Comparative Analysis of Four Bible Versions

Scholarship pertaining to the Bible accounts for a great deal of research. A search for “the Bible” on just the University of Southern Mississippi Libraries website archive results in 549,075 hits, and specifying “English Bible versions” only reduces those results to 70,000. My largest difficulty in discussing the Bible lies not in finding a conversation but in finding which part of the conversation to enter. In the past fifty years, one of the largest emphases has been on using the best translation style for the Bible, a topic that has dominated the field of biblical scholarship (Ryken, Understanding 15). I believe, however, that translation preference is likely the result of a greater issue that has been a constant motivation working in the background. For example, Eugene Nida, father of the dynamic equivalence theory to be further discussed below, argues that “This underlying issue is the desire to understand the Bible. When there are inadequate equivalents in the formal patterning of sentences (i.e., mistakes in syntax), we generally recognize such faults as once and either excuse them, or at least are able to discount them in trying to ascertain the meaning” (31). F. F. Bruce also advocates Nida’s position on translation, reasoning that “the needs of the present day . . . require . . . a completely new translation based on the most accurate and up-to-date findings” in translation theory (235). Leland Ryken, however, argues that any accurate understanding of the Bible is only possible through literal translations. His view is that dynamic equivalence fails to “render the Bible understandable to modern readers” and becomes a hindrance that “shields them [the readers] from encountering what the original text says.” Advocates for both sides of this translation debate desire a clear understanding of the Bible, but they disagree about the means for finding it. And this desire to understand is not limited to these biblical 2 scholars. Publishers often laud their translations by claiming they have been written for the clearest understanding. The preface of the New Oxford Annotated Bible praises the Revised Standard Version’s translation for its “contribution to the understanding of the Bible” (i). The introduction to the New International Readers Version1 concludes that much difficulty pervades other Bibles, so its translators have intentionally employed a smaller vocabulary so as to “use words that are easy to understand” (vii), while the foreword to New American Standard Bible justifies varying translation styles between dynamic and formal equivalence throughout because that strategy functions better for “assisting the reader’s comprehension” (v). Each and every one of these assertions concerns the reader’s being able to better understand the Bible, and that is where I come into the conversation. I follow one particular Bible tradition from its source to its most recent version, I analyze parallel portions, and I offer my understanding of each text in relation to the others. The practical result of this exercise shows that gaining a true and well-rounded understanding of the Bible will not be as easy as merely buying the newest version and reading it. By comparing the versions I chose according to my method, I present a practical and replicable template for any Bible reader to use in comparing English Bibles in order to gather the best understanding of the text in question. One problem with finding sources to quote in the comparison of Bible versions section is that the authorities tend to prefer one version or style of translation that they subsequently present as better as or more accurate than others. Eugene Nida is famous for theorizing dynamic equivalence and also advocating the use of Bibles translated in this style. Leland Ryken even began writing The Word of God in English as merely a literary comparison of Bible versions before making it a defense of what is termed “essentially literal translation.” Rather than make my study of English Bibles into a competition as well, I compare the results of close readings of select verses in four versions. These results are for the purpose of discovering differences in the texts and better understanding through a comparison of other versions. In order to compare versions as impartially as possible, I look for sources that will shed light on the method of translation or to provide historical background on the Bible. Every author has a bias, myself included, but to reduce its effect, I work to keep my perspective unhindered by avoiding others’ opinions on the Bibles and only use the text of the Bibles. Lest I appear to be thereby uninformed, let me clarify my method by explaining that I have certainly read and considered several arguments about the theological and literary implications of different word choice or missing/added text, from which I have learned the significance of small details, but the specific examples, details, and understanding of the results in this paper are only my own understanding. For example, in results linked to comparing Bible versions I often came across John 7:8, 10, an apparently controversial passage for some. Some Bibles, like the English Revised Version, include a translation of verse eight as Jesus saying “Go ye up unto the feast: I go not up yet unto this feast; because my time is not yet fulfilled,” and then after verse nine explains that Jesus stayed behind, the translation in verse ten has, 4 “But when his brethren were gone up unto the feast, then went he also up, not publicly, but as it were in secret.” The key word in verse eight is the first yet, but some other translations, such as the New International Version, read, “You go to the festival. I am not going up to this festival, because my time has not yet fully come,” and for verse 10 read, “However, after his brothers had left for the festival, he went also, not publicly, but in secret.” From a certain theological standpoint, translations of John 7:8 such as that of the New International Version indicate that Jesus told a lie and therefore committed sin. From that standpoint of translation types, this passage would also be a prime example for Leland Ryken’s argument that essentially literal versions like the English Revised Version are more accurate and reliable than other versions like the New International Version. While I understand the importance in including yet rather than excluding it in John 7:8, my aim is alternatively focused on how contrasting examples like these would affect how one understands the Bible as a whole

Engineering and programming manual: Two-dimensional kinetic reference computer program (TDK)

The Two Dimensional Kinetics (TDK) computer program is a primary tool in applying the JANNAF liquid rocket thrust chamber performance prediction methodology. The development of a methodology that includes all aspects of rocket engine performance from analytical calculation to test measurements, that is physically accurate and consistent, and that serves as an industry and government reference is presented. Recent interest in rocket engines that operate at high expansion ratio, such as most Orbit Transfer Vehicle (OTV) engine designs, has required an extension of the analytical methods used by the TDK computer program. Thus, the version of TDK that is described in this manual is in many respects different from the 1973 version of the program. This new material reflects the new capabilities of the TDK computer program, the most important of which are described

Preface of Veterinary Pharmaceuticals in the Environment

An important symposium was presented on Veterinary Pharmaceuticals in the Environment at the 233rd National Meeting of the American Chemical Society on March 25-26, 2007, in Chicago, IL. The excellence and timeliness of the presentations indicated the need for an ACS Symposium Series book addressing the environmental chemistry and toxicology of this group of emerging contaminants. The purpose of this symposium was to bring together scientists from academia, government, and industry to discuss and present data relevant to the significance of veterinary pharmaceuticals in the environment. A broad range of topics was covered, including environmental chemistry studies focusing on transport, mobility, sorption, persistence, and bioavailability of the compounds, as well as development of analytical techniques relevant to detection of the pharmaceuticals in environmental matrices, discussion of ecotoxicological studies of veterinary pharmaceuticals, and information relevant to ecological risk assessments. The primary classes of drugs addressed herein are veterinary antibiotics and syntheti