Cobalt Resource Scarcity

Only available on StudyMode
  • Download(s) : 104
  • Published : September 10, 2012
Open Document
Text Preview
 

Cobalt Scarcity in US Economy
EPA1321:  Systems  Modeling  Project    
  Due  to  an  increasing  global  demand  for  energy,  engineers  have  been  challenged  to  come   up  with  a  new  generation  synergy,  which  has  to  be  a  sustainable  energy  system.  One  of  the   major  capacity  additions  over  the  next  20  years  will  be  natural  gas  fired  power  plants,   which  utilize  gas  turbine  power  generation  equipment.  The  demand  for  cobalt  is  expected   to  increase  significantly.  But  can  the  identified  reserves  of  cobalt  cope  with  this  increased   demand?  The  purpose  of  this  report  is  to  understand  the  market  dynamics  of  cobalt   scarcity,  and  present  recommendations  for  ways  to  alleviate  scarcity  effects.   Kobus  du  Toit   1395955    

     

 

Table of Contents
1   Introduction ................................................................................................................................ 0   2   Problem Articulation (Boundary Selection) ............................................................................. 1   2.1   Theme  selection  ........................................................................................................................................  1   2.2   Key  variables  .............................................................................................................................................  1   2.3   Time  horizon  .............................................................................................................................................  2   2.4   Dynamic  problem  definition  (reference  modes)   .................................................................................  2   . 3   Formulation of Dynamic Hypothesis ........................................................................................ 3   3.1   Initial  hypothesis  generation  ..................................................................................................................  3   3.2   Endogenous  focus  ....................................................................................................................................  3   3.4   Mapping   .....................................................................................................................................................  4   4   Formulation of a Simulation Model .......................................................................................... 6   4.1   Specification  of  structure  &  decision  rule  .............................................................................................  6   4.2   Estimation  of  parameters,  behavioral  relationships,  and  initial  conditions  ....................................  7   5   Testing ......................................................................................................................................... 9   5.1   Comparison  to  reference  modes  ............................................................................................................  9   5.2   Robustness  under  extreme  conditions  ................................................................................................  10   5.3   Sensitivity  ................................................................................................................................................  10   6   Policy Design and Evaluation ................................................................................................. 12   6.1   Scenario  specification   .............................................................................................................................  12   6.2   Policy  Recommendations  ......................................................................................................................  13   Bibliography...
tracking img