Economics of Oil, Gas and Energy
This
week you will be submitting your paper for the course project. This is
described below:
Introduction to the case study
The integrated
project is designed to tie your newly acquired knowledge of energy economics to
the analysis of major global issues you will likely face in your career. What
must be explicit in your project is a demonstration of your ability to use your
understanding of energy economics to create a cogent and economically sound
synthesis of concepts and ideas to produce a convincing evaluation of one or
more of these major issues.
In this project,
you will assume a role and describe how you will execute this role. There is
significant latitude in the role you choose to assume, but your role must in some manner address the following issues:
- The prospect of oil and gas
production declining while energy needs continue to grow; - The increasingly urgent need to
reduce global carbon emissions; - The political difficulties faced by
all countries in restraining emissions if it means reduced economic
welfare for their people; - The possibility of increasing
control of OPEC, and in particular Persian Gulf countries, over oil prices
and oil supply; - The possibility of significant oil
shocks/interruptions due to war or political design; - Political difficulties associated
with different parties’ claims to oil production rights and the
consequences for negotiating production agreements; - The increasing need for R&D to
create new, economic supplies of energy; - The relative roles of private
industry versus governments in assuring efficiency/fairness in the global
energy market.
Structure
Your
project can be a case analysis of an actual decision faced by an energy
company. Alternately, the project may
be a research project that states a hypothesis, provides evidence, and draws
conclusions.
You will assume a
role and describe your decision-making process. You are an advisor to OPEC. You
have been asked to prepare an analysis of future demand for OPEC oil, including
the range of uncertainty.
Further guidance and direction
Depending on the
role you have assumed, your target audience will differ. Develop a clear
picture of this audience before launching out. The steps to follow are below:
1. Identify your audience (even if you have chosen something like the
“King/Queen of the World,” role, you will have to explain your decisions to
keep your “subjects” happy);
2. Develop a preliminary set of arguments you will present (these can
change as you discover more);
3. Anticipate the counter-arguments you can expect to encounter; make
a list;
4. Determine the degree to which your arguments will likely involve
quantitative analysis; assure yourself you can handle this;
5. Determine the sources you will need; make a list;
6. Write your proposal with your audience in mind.
Assignment detail
A 2,000-words of
your paper must be turned in to your Instructor. This paper will include the
following and follow the Harvard Referencing System.
- A summary of your project—case
study or a research paper—and the course topic(s) your project will
address; - A statement of the role you are
hypothetically assuming; - A statement of sources you will use
and cite; - A brief description of arguments
you expect to be presenting (note that these can, and arguably even
should, change in your final submission; you are not “locked in” to the
arguments you present at this stage of your project); - A statement of the quantitative
methods that will be used to highlight your findings.
The evaluation
and grade of your outline will be based on the following criteria:
The Final Project should not
exceed 3,000 words plus bibliography and attachments. The evaluation and grade
of your outline will be based on the following criteria:
- The difficulty of the topic chosen;
- Explicit inclusion of one or more
elements of this module; - Evidence that you understand key
module concepts; - Quantitative depth;
- Correct format and style;
- Quality of sources;
- Synthesis of diverse concepts
introduced in this module; - Quality and maturity of thought and
depth of your argument and analysis;
- Credibility and
elegance of your argument; - Responsiveness
to your professor’s comments; - Style and
grammar.
Show the
critical result how you have organised the structure of your project and how
you refine this based on feedback from your Instructor.
