Monday, March 23, 2020
Thomas Jefferson Thomas Jefferson Thomas Jefferson and the American Ideal Thomas Jefferson was the third president of the United States. He was from Virginia and was one of the youngest men in Congress. He had only recently become involved in politics. John Adams, the delegate from Massachusetts, had years of experience. Jefferson thought it was only logical that the task of writing this important document should fall to the older, more experienced statesman. Adam's wanted Jefferson to write the Declaration of Independence, but Jefferson did not want to do it because he thought it would be too hard and it would take a lot of thinking. Jefferson was a writer, inventor, a statesman, and an architect. He explored the new ideas about science and government that were taking shape all around him. When he was told that he had to write the Declaration of Independence, he started right away which is contradictory to what we would think, because he didn't want to do it. It took him 2 weeks to write the Declaration. With this document, the colonies were declaring themselves independent. Americans would govern themselves. Thomas Jefferson had first learned the principle of individual freedom as a student in Williamsburg. He had learned that there were certain rights by which all people had to live to be able to make their own choices, and to be free to do as they wished as long as it didn't hurt others. Today we take these ideas for granted, but they were fairly new in the 1770's. The Americans were not allowed to govern themselves, to set taxes for themselves, or to defend themselves. Thomas' first home was the family plantation of Shadwell on the Rivana River. When Thomas was nine years old, his family moved from the Randolph's place back to their own plantation, Shadwell. On a bright September morning in 1752, a wagon drove up the path to Shadwell. The driver gave a shout and the family hurried outside. Everyone helped load Thomas' bags into the coach. His mother fussed at him before he left and told him that he must write once a week telling them everything he had learned. Jane was his sister, and she said good-bye to him. His father gave him a present which was an expensive Latin dictionary that had come all the way from England. He was moving to a school called Northam. It had only one teacher, Reverend Dougless. He had moved to the Dougless' house. Thomas tried to pay attention to his classes, but they were so boring, they nearly drove him to tears. He was studying Latin and Greek, which all gentlemen needed to learn because the great early books were written in one of those languages. After his father's death, Thomas changed schools. It was the first decision he had ever made on his own, and he never regretted it. His new teacher was Reverend Maury. He liked these classes and school better because the school was close to Shadwell, and he could rode a pony home. He also had a best friend named Dabney Carr. Thomas was certainly not the kind of boy who wanted to stop learning; the more he learned, the more he wanted to learn. By the time he was out of school, he knew where he wanted to go for college; William and Mary in Williamsburg, the capital of the colony of Virginia. He was seventeen years old when he entered this college. Thomas Jefferson was now becoming very concerned about what he looked like. He knew that he wasn't very handsome. He was over six feet tall, he had red hair, and his arms and legs were very long and awkward. He also had very big feet. When he entered college, he obtained an interest for European architecture. He got several books with pictures of famous Italian buildings, and the more he read, the more excited he became. He became so excited, he decided to build a house of his own in America that could match the great Italian buildings magnificence. He built Monticello. Thomas Jefferson died on July 4, 1826. He was 83 years old. Biographies
Friday, March 6, 2020
There is More to Amir than Being a Decorated Marine Veteran Hashtag: #FreeAmirNow Imprisoned for Bravery and Intellectual Capacity There is more to Amir HekmatiÃ¢â¬â¢s arrest and imprisonment in Iran than being a decorated United States Marine veteran. In fact, the main reason for AmirÃ¢â¬â¢s 2011 arrest, imprisonment, and death sentence in early 2012 was his intellect and participation in the development of Kuma Reality Games as culture and language consultant. Amir Hekmati completed his high school studies in 2001 and since then participated in several educational and training programs offered by the U.S. military. He participated in the Naval Junior Reserve OfficersÃ¢â¬â¢ Training Corps in 2001 and later attends the School of Infantry at Camp Pendleton, California. His intelligence, bravery, good conduct, and participation in Operation Iraqi Freedom earned him several awards and decorations, opportunity to study Arabic at the Defense Language Institute in Monterey, California, and later honorably discharged as a sergeant in 2005. In 2006, AmirÃ¢â¬â¢s experience as a translator in Iraq allowed him to establish Lucid Linguistic LLC and acquire Arabic and Persian translation contracts from U.S. military. He later got involved in different translation projects for DARPA (Defense Advanced Research Projects Agency) and language-learning video game (Kuma Reality Games) for the U.S. Department of Defense. Amir was about to start an economics degree at the University of Michigan when he was arrested and detained for espionage. You may be interested in: Moral Failure in Academic Institutions Yasar Kemal Is a Master of Word Torture Is Never Justified The Misdemeanors of Well-Educated People in Public Office Who and What Deserve Respect? Why Iran Think Amir Is Spying for CIA There is nothing special about AmirÃ¢â¬â¢s enthusiasm for education and specialist training including his seemingly extraordinary intelligence, courage, and integrity. The reason is that AmirÃ¢â¬â¢s father (Ali Hekmati), before brain cancer diagnosis, was a college professor at Mott Community College, Flint, Michigan. His sister remembered Amir as an energetic young man who loves sportsÃ and was curious about culture and languages. Despite being a natural born American with Iranian descent, Amir is fluent in Arabic and spent most of his military service as a linguist and translator. IranÃ¢â¬â¢s Revolutionary Court labeled Amir as Ã¢â¬Å"Corrupt on EarthÃ¢â¬ and Ã¢â¬Å"An Enemy of GodÃ¢â¬ for allegedly spying and helping the United States undermine IranÃ¢â¬â¢s integrity. The basis for such claim is AmirÃ¢â¬â¢s alleged intelligence training in 2001, direct participation in the development of MITRE CorporationÃ¢â¬â¢s two-way translation system and design of the languageÃ¢â¬âlearning aspects of Kuma Reality Games that are sponsored by the U.S. Department of Defense. The first one is certainly baseless but the rest are facts that are enough to convince Iranian authorities of espionage. Iran is historically hostile to insulting and malevolent activities such as Salman RushdieÃ¢â¬â¢s Ã¢â¬Å"Satanic VersesÃ¢â¬ , American governmentÃ¢â¬â¢s arrogance and consistent insulting remarks on Iran such as Ã¢â¬Å"terrorist alliesÃ¢â¬ , Ã¢â¬Å"an axis of evilÃ¢â¬ , and Ã¢â¬Å"sponsor of global terrorÃ¢â¬ , and death sentence for a 30-year old man who posted a religiously offensive remarks on Facebook. Amir did nothing similar, but being an Iranian-American, a Middle Eastern culture, and language expert, and a favored contractor of U.S. military projects visiting relatives in Iran made him a credible spy in the imaginations of Iranian authorities. AmirÃ¢â¬â¢s education, military experience and recognitions, expertise, and chosen line of work are difficult to ignore particularly to people who are exceedingly sensitive and hostile to change and spread of democratic values.
Tuesday, February 18, 2020
Discuss the strategic roles of middle managers - Assignment Example In their study, Currie and Proctor (2005) concur with the literature that argues that organizational performance is mainly influenced by what takes place in the middle of the organization than what happens at the top. Based on the work of Floyd and Wooldridge (1992, 1994, 1997, 2000), Currie and Proctor (2005) argue that middle managers have a significant role to play in the Ã¢â¬ËthinkingÃ¢â¬â¢ as well as Ã¢â¬ËdoingÃ¢â¬â¢ of strategy in the organization. The middle managers can actually influence the direction of strategy from top to bottom or bottom to top. According to Currie and Proctor (2005), middle managers play four significant roles in strategic decisions in the organization. First, they synthesise information about the operations of the organisation which can be channelled upwards to the executives and can be used in strategy formulation. Second, the middle managers can reshape the strategies formulated by the executives since they are closer to all activities that o ccur in the organization. Thirdly, the middle managers can also exert downward influence especially in areas that are outside the reach of the executives. The fourth point is that middle managers are responsible for implementing deliberate strategy where they translate corporate strategy into action plans. Thus, it can be noted that from the middle management perspective, the middle managers have important strategic roles to make in an organization. Without middle managers, it may be difficult to achieve consistency in the performance of the organization. Raes et al (2011, p. 102) also suggest that Ã¢â¬Å"the interaction of the top management team (TMT) and middle managers (MMs) is central to effective strategy formulation and implementation.Ã¢â¬ It can be argued that the middle managers are at the center of all activities in the organization. For instance, they directly link with the top executives and the supervisors and other subordinates below them. This makes then significant in strategy
Tuesday, February 4, 2020
Financial Reporting. Company assigned - Informa - Coursework Example International accounting standards are the principles and the legislations and regulations implied by the local governments are the rules that needs to be followed and thus the symmetry of reporting around the world depends upon the adoption of the accounting standards in the regulations. Financial reporting are the highest regulated activity of business but due to the regulatory differences as to the extent of adoption of accounting standards the laxities provided in the reporting standards high profile corporates collapse, although the regulations in the financial reporting but there is much room available for development as due to the modern business techniques the regulations of financial reporting should be regulated accordingly besides the fact that the reporting base provided in the accounting standards are strong enough to maintain reporting symmetry. Standard Setting The international accounting standards are made in order to harmonize the financial reporting around the glob e in order to facilitate the user so the comparisons can be done. There are several bodies involved in the standard setting and their implication. International Accounting Standard Board is the main body where the standards formed and issued and in United States the American institute of CPAs. Exposure draft is issued based upon the issue arising in the financial reporting and the comments are taken upon the arose issue so responses from the different sectors of the businesses around the world can be taken and considered in order to get the involvement from different perspectives. The exposure draft is issued for a limited period and then it is considered by the experts and amended as per the needs and suggestions made by the experts around the globe. After the finalization of the exposure draft the accounting standard is formed and issued. After the issuance of the accounting standard the standard interpretation committee issues the interpretation regarding the accounting the stand ards and how the accounting standard deals with the different aspects of financial reporting. Whereas in United States the USGAAPs are issued to coincide with the international accounting standards so as to satisfy the uniformity in the accounting treatments around the globe. The accounting standards formed are based upon same basic concept and there is much less chances of conflict between the accounting standards and same is the case with the USGAAPs. However the two major bodies of setting accounting standards cannot implement the accounting implication around the world as the accounting standards are modified around the world varying country to country as per their legal requirement. The basis of accounting treatments is same but mostly the calculation and presentation is different so as to comfort the local reporting requirements. This brings the differentiation in the financial reporting as the reporting requirements in each country are not same. Thus the regulations in the re porting standards must be made strong enough so as to follow the required procedure in financial reporting and minimize the differences interstates so as to affirm the harmonization in the accounting treatments. Where the conflict between the accounting standard and local regulation arise the prevailing treatment is done as per the
Sunday, January 26, 2020
Environmental impact sustainability Introduction Emissions from shipping contribute significantly to the concentrations of harmful air pollutants in Europe. There are, still, technical methods which these pollutants could be reduced for 80-90 per cent. These methods are cost-effective compared with land-based sources. Such reductions are needed for protecting health and the environment, and for shipping to develop into a more sustainable kind of transport. Air emissions have been a major issue for many years between political and shipping groups. More recently, though, the political climate has toughened with the subject being raised from a matter of local pollution to one of global warming. Exhaust emissions from land transport and electricity generation are already heavily regulated within very low limits. Shipping has not yet been greatly affected and the emissions are growing with the increasing sea-borne trade. Shipping consumes about five per cent of global oil consumption which leads to global NOx emissions of about 12.57 million tonnes / year, and about 10.54 million tonnes / year global SOx emissions. Obviously, stricter air pollution control regulations will come for shipping. Yet it is not known which emissions types will be regulated, to what level and when. World shipping has been reported as generating some 438 million tonnes / year of CO2 which is equivalent to about 1.8 per cent of global CO2 emissions. Increasing emissions The emissions of air pollutants from ships engaged in international trade in the seas surrounding Europe Baltic, North Sea, north-eastern part of the Atlantic, Mediterranean, and the Black Sea were estimated to have been 2.6 million tons of sulphur dioxide and 3.6 million tons of nitrogen oxides (NOx) a year, in 2000. While pollutant emissions from land-based sources are gradually coming down, those from shipping show a constant increase. Even after the application of MARPOL Annex VI, which sets limits on the sulphur content of marine fuels for the Baltic Sea, the North Sea and the English Channel, emissions of SO2 from international shipping are expected to increase more than 42 per cent by 2020, and those of NOx by two thirds. In both cases, by 2020, the emissions from international shipping around Europe will have exceeded the total from all land-based sources in the 27 member states combined. It has been estimated that about 90 per cent of the total SO2 and NOx emissions from ships in the North Sea, including the English Channel, originates from a zone of approximately 50 nautical miles (about 90 kilometres) from the coast line. International shipping within a distance of 100 nautical miles from the coast was estimated to be a source of 97 per cent of the total in the North Sea. Air quality health,acidification, eutrophication Particles SO2 and NOx can become converted into sulphate and nitrate particles, which are very small and among the most frequent of airborne particles. Exposure to particulate matter (PM) is associated with increased mortality (especially from cardio-vascular and cardio-pulmonary diseases) and sickness. According to the European Environment Agency, up to 45 per cent of Europes urban population are exposed to PM10 levels (particles of 10 micrometres or less) exceeding the forthcoming EU standards (EEA, 2004). It has been estimated that exposure to particulate matter in outdoor air leads to about 100,000 deaths annually in Europe , that the effect of PM on life expectancy may be in the order of one to two years. Ship emissions are estimated to contribute between twenty and thirty per cent to the air concentrations of secondary inorganic particles in most coastal areas. Ground-level ozone Nitrogen oxides contribute also to the formation of ground-level ozone, which damages vegetation as well as human health. In the second half of the 1990s, almost all of Europes urban population were exposed to ozone concentrations above the limit value for the protection of human health. It has been estimated that about 75 per cent of the urban population in southern Europe, and 40 per cent in the northern part, lived in cities where the ozone levels exceeded the EU target value of 120 micrograms per cubic metre (mg/m3) for more than 20 days. Shipping emissions contribute remarkably to the formation of ground-level ozone, especially in the Mediterranean region, where increased concentrations resulting from ships NOx emissions amount to 16-20 mg/m3. The high concentrations of ozone in the Mediterranean region do not only affect human health and crop harvests, but also pose a threat to the regions important tourist industry. Acidification In 2000, the depositions of sulphur and nitrogen exceeded the critical loads for acidic substances on more than 260,000 square kilometres (about 20 per cent) of sensitive forest ecosystems in the EUs member states. Emissions from ship traffic contribute to exceed of critical loads of acidity by more than 50 per cent in most of the coastal areas along the English Channel and the North Sea, in the Baltic Sea along the coast of Germany and Poland, and also in large parts of southern Sweden and Finland. Also, there are a large number of grid cells in northern Europe where ship emissions are responsible for more than 90 per cent of exceed critical loads for acidity. Eutrophication Nitrogen oxides lead to eutrophication, which affects biodiversity both on land and in coastal waters. In 2000, the depositions of nitrogen exceeded the critical loads for eutrophication on 800,000 square kilometres (about 60 per cent) of sensitive terrestrial ecosystems in EU. Also, there are a large number of areas in northern Europe where ship emissions are responsible for more than 90 per cent of exceed critical loads. In the Mediterranean, ships emissions contribute more than 50 per cent of exceed critical loads in parts of Greece, Italy, and Spain. Although most of the SO2 and NOx emitted from ships operating in international trade get deposited over the sea, shipping is the largest single source of acidifying and eutrophying result over many countries in Europe. Corrosion Air pollutants, such as sulphur dioxide, nitrogen oxides, and ozone, accelerate the rate of weakening of a large number of various materials. Buildings and monuments made of limestone and some kinds of sandstone are especially sensitive to corrosion from acidic substances. Also metals become corroded more quickly in an acid environment. Ozone is known to speed up the disintegration of textile materials, leather and rubber. Climate change Emissions from ships also contribute to global warming. An estimate of the change in net irradiance at the atmospheric boundary between the troposphere and the stratosphere (radiative forcing) due to CO2 emissions from ships indicates that ships may account for 1.8 per cent of the global. Additionally, according to a study made for the IMO Marine Environment Protection Committee, the radiative forcing resulting from increased levels of ground-level ozone due to NOx from international shipping are highly likely to produce positive forcing effects that will contribute to global warming and that could be in the same range as (or larger than) direct forcing from CO2 (Henningsen, 2000). Modes of Transport and Emissions Truck versus ship emissions Comparison of the environmental performance of different modes of transport is difficult, but by tightening down the comparison to a few air pollutants, some conclusions can be made. In terms of todays average vehicles and fuel, a ship will emit out 30-50 times more sulphur per ton-kilometre than a truck. When diesel becomes even cleaner in 2005, the difference increased to 150-300 times. Trucks advantage over ships even if ships are run on oil with a sulphur content of 1 per cent. This comes from the fact that the highest allowable sulphur content of diesel oil for road traffic has been gradually brought down by regulation. As from 2000 it was lowered in the EU to 350 ppm (parts per million), and in 2005 it is further reduced to 50 ppm. A further reduction to below 10 ppm is anticipated by 2010 such fuels are already being placed on the market. On the other hand, the average sulphur content of marine heavy fuel oil used in European waters is about 2.7 per cent, i.e. 27,000 ppm. Regarding to nitrogen oxides, ships release about twice as much NOx per ton-kilometre as the latest truck models today, and the difference is set to increase (again see Table 3). In 2005, the emission standards for trucks in the EU were cut from the present 5.0 to 3.5 g/kWh, and in 2010 to 2.0 g/kWh. According to a recent report, the burning of marine heavy fuel oil gives rise to high emissions of polycyclic aromatic hydrocarbons (PAH). Because of its high content of polycyclic aromatics, this type of fuel is classified as cancer-causing and harmful to the environment. If we compare to a heavy diesel-driven truck, the PAH emissions from a ship using marine heavy fuel oil are about 30 times higher per energy unit. i.e. if the energy output of a ships engine is 40 times of a truck engine, the PAH-emissions from a fairly large vessel entering a port will correspond to those from about 1200 heavy trucks. Energy Plants vs. Ships Sulphur emissions from land-based stationary sources are in the EU regulated by several instructions, directive 1999/32 on the sulphur content of liquid fuels, directive 2001/80 on the limitation of emissions from large combustion plants, and directive 1996/61 concerning integrated pollution prevention and control. According to directive 1999/32, the maximum allowed emissions from all oil-fired plants must not exceed the equivalent of using heavy fuel oil with a sulphur content of 1 per cent. For gas oils, including for marine use, the limit are set stricter, at a maximum of 0.2 per cent, and it is further reduced to 0.1 per cent as from January 2009 (Figure 3). Any new large combustion plants (i.e. with a thermal capacity of more than 50 megawatts) built after 2003, according to directive 2001/80, keep their SO2-emissions below levels equivalent to maximum sulphur contents in fuel oil of between 0.1 and 0.5 per cent. The bigger the plant, the stricter the emission limit value will apply. International action so far Although some countries, such as Sweden and Norway, have taken steps to tackle the problem of ships emissions independently, on the whole, little has been done about it. Shipping is an international business, it would be logical to try and bring global agreement for control of its emissions, and an attempt has been made in the Marine Environment Protection Committee of the UN International Maritime Organization (IMO). After years of negotiation, agreement was reached in 1997 on an air-pollution annex to the MARPOL 73/78 Convention. But this agreement was so fragile that it was obvious it would have little effect. Annex VI establishes a global sulphur cap of 4.5 per cent for bunker fuel, and it designates two so-called sulphur emission control areas (the Baltic Sea and the North Sea), where fuel used by ships must be below 1.5 per cent. It also suggests emission standards for NOx for diesel engines with a power output greater than 130 kilowatts, but these standards are so weak that virtually all new engines are already in compliance. Following its confirmation by 15 countries representing the 50 per cent of the gross tonnage of the worlds merchant fleet, Annex VI came into force in May 2005. In practise this will mean that the 1.5-per-cent sulphur limit apply to all ships in the Baltic Sea as in May 2006, while the corresponding requirement for the North Sea was delayed until 2007. 2008 Amendments (Tier II/III)Ã ¢Ã ¢Ã¢â¬Å¡Ã ¬Annex VI amendments adopted in October 2008 introduced (1) new fuel quality requirements beginning from July 2010, (2) Tier II and III NOx emission standards for new engines, and (3) Tier I NOx requirements for existing pre-2000 engines. The revised Annex VI enters into force on 1 July 2010. By October 2008, Annex VI was ratified by 53 countries (including the Unites States), representing 81.88% of tonnage. The voting rules of the MARPOL convention, as well as experience to date, make it unlikely that possible further moves by the IMO will result in any significant emission reductions in the near future. Protocols for reducing emissions under the Convention on Long-Range Trans boundary Air Pollution (LRTAP) do not cover those from international shipping. Also, the emissions of greenhouse gases from international shipping are not covered by the Framework Convention on Climate Change or its Kyoto protocol. Although it has long been held within the European Union that shipping is a matter for the IMO, the Commission has recently been investigating the economic, legal, environmental, and practical implications of coordinated EU action for reducing the emissions of air pollutants from ships. This initiative has been encouraged among others because the EU directive on national emission ceilings required the Commission to present a program of action for reducing emissions from international maritime traffic before the end of 2002. CO2 emission control methods Water injection Water injection is a method for cooling the combustion chambers of engines by adding water to the entering fuel-air mixture, allowing for greater compression ratios and largely eliminating the problem of engine knocking. This effectively increases the octane rating of the fuel, and performance gains can be obtained when used in combination with a supercharger or turbocharger, altered spark ignition timing, and other modifications. Many water injection systems use a mixture of water and alcohol (usually 50/50), partly because the alcohol is flammable, while water is not; in addition, the alcohol serves as antifreeze for the water. The initial injection of water cools the fuel-air mixture fairly, which allows more mixture to enter the cylinder. Greater effect comes later during combustion when the water takes in, significant amounts of heat energy as it converts from liquid to gas, increasing piston pressure and reducing the peak temperature with its resulting NOx formation as well as the amount of energy absorbed into the cylinder walls. The duration of combustion is said to be longer. An interesting side effect that has been reported is that water injection effectively steam cleans the engine interior, resulting in less carbon excess build-up. Hot carbon deposits are cause of knocking. Eco Silencer The Eco Silencer design has undergone several years of testing and shipboard trials that have proven the systems ability to reduce SOx exhaust emissions and remove soot particulate as well as reduce exhaust noise. Depending on the vessels engine configuration, the Eco Silencer has the ability to reduce SO2 exhaust emissions by up to 90 % with a minimum performance guarantee that will allow burning the maximum 4.5% sulphur fuel and still surpassing the regulated reduction to 1.5% sulphur fuel. The acidic gasses, and particulate removed from the exhaust gas are pass through a water treatment system is designed to filter wastes on a continuous basis, and to provide outlet water that is environmentally safe. Reducing emissions of NOx There are various methods for reducing NOx emissions, differing somewhat in cost and effectiveness. Selective Catalytic Reduction, SCR It can reduce the emissions of NOx by more than 90 per cent, but may require the use of low-sulphur fuel. When retrofitted it replaces the exhaust silencers. Nitrogen oxides are reduced to nitrogen gas by spraying urea or ammonia into the gases before they pass through a catalytic converter. Reduction costs are generally below 600 euro per ton NOx reduced, lower if the equipment can be installed while the ship is being built. There are now more than fifty ships fitted for SCR. About half of them are Swedish, and most of the others are frequent operators at Swedish ports. This is largely a result of the environmentally differentiated fairway charges and port dues that has been used in Sweden in since 1998. HAM, Humid Air Motor A technique for preventing the formation of NOx, during combustion, by adding water vapours to the combustion air. Performance is unaffected either by the quality of the bunker oil or by engine workload. By reducing the consumption of fuel and lubricating oil, HAM has the advantage over Selective Catalytic Reduction (SCR) of somewhat lowering operating costs instead of increasing them. The method is able to reduce NOx by 70-80 per cent at a cost apparently similar to that of SCR. Shore-side electricity While docked at the port, ships shut off their propulsion engines, but use their auxiliary engines to power refrigeration, lights, pumps and other equipment. These auxiliary engines are usually powered by high-sulphur marine heavy fuel oil or in some cases by lower-sulphur marine gas oil, resulting in significant emissions of air pollutants. One possible alternative measure that specifically aims to reduce emissions from vessels in port is to plug them up to shore-side electricity so that they no longer need to run their auxiliary engines. This solution is not has problems though i.e. it requires investments and certain modifications to be made in the ports and on-board vessels. Systems for supplying shore-side electricity is nothing new they have been in use for decades in a few ports and for certain types of vessels. Experience from the Port of Goteborg, among others, has shown that the realities of handling shore-side electricity systems are simple, if modern high-voltage systems are used. The entire procedure for switching from on-board generated power to shore-side electricity is done in less than ten minutes, including the phasing in of the new electricity supply and closing down of the on-board auxiliaries. In a recent Swedish study, the direct costs for shore-side electricity were found to be two to four times higher than the direct cost of generating electricity on-board by auxiliary engines running on heavy fuel oil. However, the study also evaluated the external costs that emissions of air pollutants give rise to through damage to health and the environment, and these are significantly lower for vessels that are connected to a shore-side electricity supply. Depending on the fuel (Heavy Fuel Oil or Marine Gas Oil) and the type of shipping service examined, the external costs for on-board generation of electricity were found to be between 15 and 75 times higher than those for shore-side electricity connection. (The shore side electricity was assumed to be generated by modern coal-fired power plants). A comparison between direct electricity generation costs and estimated external costs of on-board generation and shore-side electricity, respectively, showed that the benefits associated with shore-side electricity supplies clearly outweigh the costs. The study concludes that shore-side electricity can effectively reduce air pollutant emissions and noise from vessels in port, thus providing environmental and health benefits. It is also recommended that if a wide-scale application of shore-side electricity systems were to be envisaged, it would be useful to develop a common international practice, or international standards, for such systems. A Community strategy toreduce air pollution from ships The EU strategy to reduce the emissions of air pollutants from sea-going ships was adopted by the European Commission in November 2002. It contains a broad series of objectives, proposed actions and recommendations for bringing about such reductions over the next 5-10 years. According to the Commission, the cost of reducing emissions from ships is considerably lower than that of further abatement on land. The strategy document includes a list of actions that the Commission itself intends to take, as well as those it recommends to other parties. Here are some examples: International action Within the International Maritime Organization the European Commission will continue to press for tougher measures to reduce ships emissions. It recommends member states to ratify MARPOL Annex VI as soon as possible, and to support a co-ordinated EU position pressing for tighter international standards in regard to the global sulphur cap and NOx emissions. EU regulation on emission standards On November 20, the European Commission published a proposal to amend directive 1999/32/EC so as to limit the sulphur content of marine fuels marketed and used in the EU. The recently adopted directive 2004/ 26/EC (amending directive 1997/68/EC) sets standards for emissions of NOx, PM and CO (Carbon Monoxide) for new non-road engines marketed in the EU, including engines for use aboard vessels operating on inland waterways. These new standards are gradually strengthened over the time period 2006-2014. As concerns global emission standards for ships engines, if the IMO has not proposed tighter international standards for NOx by the end of 2006, the Commission will consider bringing forward a proposal for reducing such emissions from seagoing vessels, in line with the proposed US standards put forward by the US Environment Protection Agency. EU regulation on economic instruments The European Commission has yet to come up with proposals, in the context of an EU framework for infrastructure charging, for the development of an EU system of differentiated charges for all modes of transportation. A charging scheme for maritime transportation will be part of that framework, and be developed on the basis of ships environmental performance, including atmospheric emissions. Later, the Commission considered the possibility of developing emissions trading regime (or regimes) to achieve incremental reductions in ships emissions in EU sea areas, particularly for NOx. The feasibility of trading in ships emissions will however first have to be demonstrated. Voluntary measures The European Commission urges the international bunker industry to make available significant quantities of marine heavy fuel oil with a maximum sulphur content of 1.5 per cent in states bordering on SOx Emission Control Areas, and also to make available at least some marine fuel of any grade with a sulphur content of 1.5 per cent in all world bunkering ports, so as to be able to supply ships destined for an SOx Emission Control Area. The Commission urges port authorities to consider introducing voluntary speed reductions, and to require, facilitate, or provide incentives for ships to use land-based electricity or clean on-board power while in port. References * Ahlbom, J. and Duus, U. (2003). Rent skepp kommerlastat. GÃÆ'Ã ¶teborg, Sweden. (An English abstract is available at: www.gronkemi.nu/skepp.html) * Amann, M., Bertrok, I., Cofala, J., Gyarfas, F., Heyes, C., Klimont, Z., SchÃÆ'Ã ¶pp, W., Winiwarter, W. (2004) Baselinescenarios for the Clean Air For Europe (CAFE)Programme. Final report to the European Commission, DG Environment, in October 2004. Contract B4- 040/2002/340248/MAR/C1. (www.iiasa.ac.at/rains/CAFE_files) * Beicip-Franlab (2002). Advice on the costs to fuel producersand price premia likely to result from a reductionin the level of sulphur in fuels marketed inthe EU. European Commission Study C1/01/2002. (http://ec.europa.eu/environment/air/index_en.htm) * Concawe (1993). The Europan environmental and refiningimplications of reducing the sulphur contentof marine bunker fuels. Report No. 1/93. Concawe, Brussels, Belgium. * de Leeuw, F., Moussiopoulos, N., Bartanova, A., Sahm, P., Pulles, T. Visschedijk, A. (2001). Air quality inlarger cities in the European Union. A contribution to the Auto-Oil II programme. Topic report 3/2001. European Environment Agency, Copenhagen, Denmark. (www.eea.eu.int) * Entec (2002). Quantification of emissions from shipsassociated with ship movements between ports inthe European Community. Study for the European Commission (http://ec.europa.eu/environment/air/index_en.htm) * Henningsen, R.F. (2000). Study of greenhouse gas emissionsfrom ships. Final report to the International Maritime Organization. MARINTEK, Trondheim, Norway. * IMO (1998). Annex VI of MARPOL 73/78: Regulationsfor the prevention of air pollution from shipsand NOx technical code. Publication IMO-664E, London, UK. * Kaesong, P. (1999). Economic instruments for reducingemissions from sea transport. Air pollution and climate series No. 11. The Swedish NGO Secretariat on Acid Rain, Goteborg, Sweden. (http://www.airclim.org) * DieselNet (2010) International: IMO Marine Engine Regulations (http://www.dieselnet.com/standards/inter/imo.php)
Saturday, January 18, 2020
1. The variation in an economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as: 2. Time-series forecasting models: 3. If two alternative economic models are offered, other things equal, we would 4. Smoothing techniques are a form of ____ techniques which assume that there is an underlying pattern to be found in the historical values of a variable that is being forecast. 5. The forecasting technique which attempts to forecast short-run changes and makes use of economic indicators known as leading, coincident or lagging indicators is known as: 6. For studying demand relationships for a proposed new product that no one has ever used before, what would be the best method to use? 7. If Ben Bernanke, Chair of the Federal Reserve Board, begins to tighten monetary policy by raising US interest rates next year, what is the likely impact on the value of the dollar? 8. Companies that reduce their margins on export products in the face of appreciation of their home currency may be motivated by a desire to 9. An increase in the exchange rate of the U.S. dollar relative to a trading partner can result from 10. Trading partners should specialize in producing goods in accordance with comparative advantage, then trade and diversify in consumption because 11. An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles? 12. If the British pound (Ã¢â ¤) appreciates by 10% against the dollar: 13. The import of Apple iPads assembled in Shanghai at a $295 wholesale price ($213 cost and $82 profit margin) adds more than it should to the U.S. trade deficit with China because 14. If the marginal product of labor is 100 and the price of labor is 10, while the marginal product of capital is 200 and the price of capital is $30, then what should the firm? 15. In a production process, an excessive amount of the variable input relative to the fixed input is being used to produce the desired output. This statement is true for: 16. Which of the following is never negative? 17. The combinations of inputs costing a constant C dollars is called: 18.Ã The marginal rate of technical substitution may be defined as all of the following except: 19. In a relationship among total, average and marginal products, where TP is maximized: 20. Economies of Scope refers to situations where per unit costs are: 21. Economies of scale exist whenever long-run average costs: 22. What method of inventory valuation should be used for economic decision-making problems? 23. For a short-run cost function which of the following statements is (are) not true? 24. The cost function is: 25. According to the theory of cost, specialization in the use of variable resources in the short-run results initially in: Copy this link to your browser and download:
Friday, January 10, 2020
We examined the decision to invest in the Tri-Star project by forecasting the cash flow associated with the project for a volume of 210 planes. We also asked what a valid estimate of the NPV of the Tri-Star project at a volume of 210 planes as of 1967 would be. We found this to be -$584 M. This was clearly an unacceptable NPV for capital budgeting on the project. A break-even analysis revealed that the project reached economic break-even with the production of 275 planes at $12.5 M per unit but did not reach value break-even at that level of production. Despite industry analysts predicting 300 units as LockheedÃ¢â¬â¢s break-even sales point, at this level, net present value remained insufficient to cover costs at negative $274 million. If the company had performed a true value break-even analysis, management would have realized that roughly 400 Tri Star aircraft (about 67 per year for six years) costing somewhere between $11.75 million and $12 million per unit would have to be sold in order to break even. The investment decision made by Lockheed to pursue the Tri Star program was not a reasonable one. A true value analysis shows that at the production level of 210 units, the project would result in an economic loss of $584.05 million and a profit loss of $480 million. In addition to miscalculating the break-even level of production, Lockheed management overestimated the growth rate of air travel industry.