Final project Essay Example | Topics and Well Written Essays - 1250 words - 5

Final project - Essay Example Aggregated demand curve represents the overall quantity of goods that are demanded at different price level. Second model that has been employed is IS-LM Model, and the third model is Keynesian model The concept of aggregate demand is that increase in total demand of products cause to increase the output that lead to the increased demand of labor. If the aggregate demand is lower it will cause to decrease the output and lead to decreased demand of labor (Anderton, 590). As in the case of United Kingdom economy is facing decrease in aggregate demand due to the financial crisis because this crisis made a significant impact over the purchasing power of people. People who have money are saving rather spending their money. This decrease in demand is leading country towards decrease output, therefore, towards unemployment; because firms working in the economy do not require workers to produce output. It has been observed that uncertainty shocks cause to slow down the demands. Therefore, economies have to face higher inflation rates. Such as in United Kingdom, the financial crisis showed huge uncertainty in the financial market that slow down the demand of goods market and result occur red in lower economic growth and increased unemployment rate. For example, the 2008 financial shock reduced the purchasing power of households. By using the right of postponing the purchases, households forced the firms to reduce the manufacturing and in result made delays in new hiring and increased firings of employees that contributed in high unemployment rate. The uncertainty increased the unemployment from the year of 2009 to 2013 in United Kingdom and now the effects are slowing down (Leduc & Liu, 1-30). Increase in the lowering demand of labor is high this time as compared to prior shocks of 1981. This is because this time â€Å" the zero lower bound† restrained the monetary policy on the nominal interest rate. As it has been observed that uncertainty shocks reduced the

Alternatives technologies to Gas flaring Dissertation

Alternatives technologies to Gas flaring - Dissertation Example The gas is emerged due to the drilling of oil and then separated from oil; it is released by pressure relief valves through vertical pipes. Gas flared through combustion affects the green house gases up to a considerable extent. The flaring and venting of gas from oil drills plays a very important role in emissions of greenhouse gas. The emission of greenhouse gas was at peak during 1970s around 110 million metric tons per year but it has been declined since then by more than three quarters and now estimated around 0.5% of all carbon dioxide emissions. As per the Kyoto Protocol, a carbon bonus had been announced for garbage collecting companies in some developing nations for installing combustion devices for the methane gas. These devices will help in preventing methane to reach the atmosphere by burning it. The burning effect converts the methane into water, carbon dioxide (CO2) and heat. As methane is twenty three times more powerful than carbon dioxide, it will also help in reduci ng greenhouse gas emissions with the same proportion. The gas flared and vented during the drilling process is very worth while and can be used for various purposes. According to a report by World Bank, "Over 150 billion cubic meters of natural gas are flared or vented annually, an amount worth approximately 30.6 billion dollars, equivalent to 25 percent of the United States’ gas consumption or 30 percent of the European Union’s gas consumption per year." The flaring and venting is condensed within some countries. According to the Wikipedia, "10 countries account for 75% of emissions, and twenty for 90%. The largest flaring operations occur in the Niger Delta region of Nigeria. The leading contributors to gas flaring are (in declining order): Nigeria, Russia, Iran, Algeria, Mexico, Venezuela, Indonesia, and the United States.[6] In spite of a ruling by the Federal High Court of Nigeria (that forbade flaring) in 2005, 43% of the gas retrieval was still being flared in 2 006. It will be prohibited by law as of 2008." Research Topic: The effects of gas flaring on the environment and to find alternative techniques to reduce its impact on green house gas emissions. Research Objectives / Purpose of study: The research objectives include some overall objectives that will be generalized and also some specific quantitative objectives as discussed under: To identify the risks associated with excessive gas flaring; To identify factors that influence the high and accelerated rate of greenhouse gas emission; To explore past trends of gas flaring; To identify strategies that have been implemented around the world to reduce gas flaring effect; To research and evaluate the possible alternate technologies that can be used to reduce the effect of gas flaring on the environment; & To identify the finest and environment-friendly technology for the purpose of gas flaring. Expected Outcome: The expected outcome of this research work is to achieve all the research objec tives stated above by testing the authentic and established approaches used previously for reducing emission of gas flaring and venting. Literature Review: According to the Fuel for thought: an environmental strategy for the energy sector (a report from the Environment Department of World Bank, 2000), there are many reasons of gas flaring and venting. The most significant one is the lack of resources to utilize the gas emitted