Exam 2 Study questions Flashcards
(108 cards)
1
Q
LPG is a common fuel in developing countries and in warehouses around the US.
A
TRUE
2
Q
_______ is a market situation where prices are progressively lower in distance delivery months as the image illustrates.
A
Backwardation
3
Q
What is the most expensive way to transport oil?
A
Semi-truck
4
Q
The photo illustrates the ____________ segment of the oil and gas industry. (Gas Station)
A
Downstream
5
Q
What is the name of the hydrocarbon that is C3H8?
A
Propane
6
Q
The simplest hydrocarbon molecule with only one atom and four carbon molecules is _______. It is forms the major part of natural gas (over 90%).
A
Methane
7
Q
What is the most important natural gas liquid (NGL) as a feedstock to the petrochemical industry?
A
Ethane
8
Q
_______ is a market situation where prices are progressively higher in distance delivery months as the image illustrates.
A
Contango
9
Q
Pipelines and storage are part of __________ in the energy value chain.
A
Midstream
10
Q
Which”Chokepoint” has the most crude oil in the world flow through it daily and how much flows through it?
A
Straight of Hormuz, 17 MM bbls per day
11
Q
What is the second most important natural gas liquid (NGL) as a feedstock to the petrochemical industry?
A
Propane
12
Q
What are the major lines of business for the Midstream section of the energy value chain?
A
More than one (processing & transportation)
13
Q
Ethane when cracked becomes ______.
A
Eethylene
14
Q
What is considered the world’s first true synthetic fiber?
A
Nylon
15
Q
Which natural gas liquid is used to make the base chemical, ethylene?
A
Ethane
16
Q
Three specific petrochemicals from Stage 1 form the foundation of the industry. This is from the lecture on petrochemicals. These three petrochemicles are:
A
Ethylene, propylene, and benzene
17
Q
What are the three principal feedstocks for the chemical industry. (I do not mean the base petrochemicals. I am asking about the feedstocks into the chemical industry.)
A
Naptha, natural gas, and natural gas liquids
18
Q
Which petrochemical feedstock (hint: think of a natural gas liquid) is the most important, #1, to the petrochemical industry. Which is #2?
A
Ethane & Propane (none of these answers are correct)
19
Q
You just purchased a bottle of your favorite soft drink at the convenience store. This bottle is most likely made from which of the following plastics? (Hint: This question is from the Petrochemicals lecture).
A
Polyethylene terephthalate (PETE)
20
Q
Fertilizer is made primarily from which feedstock into the chemical industry?
A
Methane (natural gas)
21
Q
You just purchased a bottle of your favorite soft drink at the convenience store. This bottle is most likely made from which of the following plastics?
A
Polyethylene terephthalate (PETE)
22
Q
How much oil flows through the Strait of Hormuz each day? This is a Unit 1 question but you need to look it up.
A
17 million barrels
23
Q
What petrochemical product is used in baby diapers from the slides on Petrochemicals? This is to illustrate the importance of the petrochemical industry. Hint: This is from the lecture slides.
A
SAP
24
Q
Nelson complexity index’s complexity factor is assigned to major refinery equipment based on what?
A
Crude distillation relative to complexity and cost
25
LNG stands for ____ and consists primarily of _____.
liquified natural gas; methane
26
The most important process for removing contaminants in refineries is Hydrotreating.
TRUE
27
Changes in gasoline and diesel prices do not mirror changes in crude oil prices.
FALSE
28
Which of the following is not a driver of refinery margin?
Gasoline differential US/Middle East
29
Refineries are categorized by location (WTI, Brent etc.), weight and type of crude oil processed and capacity of distillation.
FALSE
30
Which one of the following is not a spread used as a financial instrument?
LNGs Spread
31
______ is/are any organic compound consisting only of carbon and hydrogen.
Hydrocarbons
32
Crack spreads are a widely used indicator for monitoring the industry because of their highly accurate prediction of profitability.
FALSE
33
Which of the following is not a driver of refinery profitability?
Lowest value products
34
Refining and marketing are part of __________ in the energy value chain.
Downstream
35
Declaration of summer gas prices are readily seen in the pumps because wholesale prices tend to react almost instantaneously to crude price fluctuations.
FALSE
36
Cracking refineries are the most complex refineries after Coking refineries.
FALSE
37
Refining and marketing is known collectively as ___________.
Downstream
38
How is refining doing?
It is all in the crack. If the crack is good, refining is good!
39
The photo shows an image of the Haiti and Dominican Republic border -- during the day and at night. Haiti is on the left and the Dominican Republic is on the right. Notice how Haiti has a lot fewer trees than the Dominican Republic and notice how the night images are different. What is the main reason for this great contrast between the two countries? Hint: This question is from the week 1 Introductory lecture.
The Dominican Republic decided many years ago to import natural gas for energy instead of relying on wood as the major source of fuel, whereas Haiti did not do this.
40
Oil still dominates at the most economical and efficient fuel. This statement is:
TRUE
41
What is meant by the "Seven Sisters" and "New Seven Sisters"?
The Seven Sisters were created by the breakup of Standard Oil in 1911 and created major oil companies such as Exxon, Mobil, Texaco, etc. The New Seven Sisters are the most influential national oil and gas companies outside of the OECD.
42
Which of the following are considered forms of renewable energy. Select all that apply. This question allows you to select multiple answers.
Wind, Solar, Biomas, Geothermal
43
Changes in gasoline and diesel prices do not mirror changes in crude oil prices. Hint: gasoline and diesel are refined products of crude oil.
FALSE
44
Fossil fuels are forecast to continue to play leading roles through 2040 both for the US and the world. Hint: This question is from the API reading and lectures on "Energizing American". This Statement is:
TRUE
45
The US benchmark crude oil is __________ and the location for the pricing that is quoted is _______.
West Texas Intermediate; Cushing, Oklahoma
46
The breakeven prices for shale wells in the same shale plays are getting higher every year because the industry is becoming less efficient. This statement is:
FALSE
47
Which type of fuel has the highest btu per volume?
diesel
48
WTI Light Sweet Crude is the benchmark crude for the United States?
TRUE
49
Rejected Energy is ______________________.
Energy that is lost/wasted in transportation, conversion, and other activities in the energy value chain.
50
Oil has be termed "Fool's Gold."
TRUE
51
The _______% of the US energy needs are expected to be met by oil and natural gas by the year 2040
60
52
Real Property Administration (RPA) is responsible for establishing, maintaining and protecting the legal ownership of real property assets for ConocoPhillips and its customers.
TRUE
53
How many stages are there in the division order life cycle?
5
54
What happens to oil wells on lease at disposition stage?
Plugged and abandoned
55
Ownership changes can occur throughout the life of a lease only on leasehold. (From the maintenance section of the presentation)
FALSE
56
The Joint Operation Agreement outlines any ______ for not participating in the drilling of a well or any other operation.
penalties
57
Oil and Gas lease agreement has minimum royalty and option to renew/extend as provisions
TRUE
58
What’s the land management system that is used to track, manage, and maintain the acquisition in Conoco Phillips?
Quorom
59
Royalty Interest (Lessor) is the owner of mineral rights who has executed a lease.
TRUE
60
Which one is a part of the gulf coast assets owned by Conoco Philips?
East and Southeast Texas
61
"Rigth of way" is sub-surface type ownership?
FALSE
62
The first oil price shock was in ____, with the Arab oil embargo which caused an ______ in oil prices and shattered the consuming countries' complacency about supply security and prices.
1973, rise
63
I am so excited about energy business.
TRUE
64
What year was Dr. Byers very miserable working in the energy business?
1985
65
Which of the following countries was the largest user ofpetroleum (in % of sources) in 2014 for electric power generation?
Saudi Arabia
66
Which of the following countrieswas the largest user of hydropower (in % of sources) in 2014 for electric power generation? Remember that hydropower is a renewable energy source.
Norway
67
Which of the following countrieswas the largest user of nuclear energy (in % of sources) in 2014 for electric power generation?
France
68
What is a good example of when a very significant buildup of unbalanced electrons move in air?
Lightning
69
You just ate an entire Bloomin' Onion at Outback Steakhouse. It had 3080 calories. Yes -- This is true! How many hours could the amount of energy contained in the Bloomin' Onion power a 100 watt light-bulb?
around 35 hours
70
What are significant sources of energy used in US electricity generation? By this, we are referring to sources that provide at least 5 % of the power.
Nuclear, coal, natural gas, renewables
71
Over time, electricity has been responsible for most of the energy consumption growth in the commercial due to the use of what?
air conditioning
72
What are the three sectors that the electric industry is broken into?
generation, transmission & distribution, and retail sale of electricity
73
If you had a home with nine 100 watt light bulbs burning and you had them on for eight hours, how much energy is being used?
7.2 kW Hours (kWh)
74
If you had a home with nine 60 watt light bulbs burning, how much energy is being used?
540 watts
75
_________give up their outermost electrons pretty easily.
copper atoms
76
The United States has strong and essentially continent-wide north-south as well as east-west connections, while the Europe does not have comparably capable national network.
FALSE
77
Plutonium-239 is a fissile material that is frequently found naturally with Uranium and Radium.
FALSE
78
An isotope is:
any of two or more forms of a chemical element, having the same number of protons in the nucleus but having different numbers of neutrons in the nucleus.
79
This type of ionizing radiation is not very penetrating and can be stopped by the skin.
Alpha radiation
80
Experimental Breeder Reactor #1 (EBR-1) was one of the first nuclear power plants to generate electricity, however its primary purpose was to prove which theory?
The capture of neutrons by uranium-238, producing plutonium-239, would produce more fuel than consumed in the process.
81
The nuclei of certain light elements can split, releasing a lot of energy.
FALSE
82
The nucleus of an atom is made up of:
protons and ususally neutrons
83
The man responsible for the U.S. Navy's nuclear propulsion program.
Rickover
84
A variant of a particular chemical compound that differs in the number of neutrons in the nucleus is known as a(n) __________.
isotope
85
The number of protons an atom has tells us the __________.
Atomic number
86
In 1986, there was a major accident at a nuclear power plant that released significant amounts of radioactive material into the environment. The area around the reactor site is still abandoned, though recently some areas are opening back up. Where was the reactor located?
Chernobyl, Ukraine (USSR)
87
According to the author of the book Energy Myths and Realities, a switch to an all electric automobile fleet in the U.S. would require an increase in electrical power generation equal to _____ of all U.S. electrical generation in 2008.
25 Percent
88
Which of the following best describes the view of the author of Energy Myth and Realities with respect to electric powered automobiles?
Pessimistic
89
What did I discuss in class is needed to really make electric cars more acceptable to all?
Fast charging, long lasting car batteries
90
As discussed in the lecture, which actor famously posed with his new electric automobile? This question is from the chapter about electric cars.
George Clooney
91
Why did Thomas Midgley add tetraethyl lead to gasoline?
To reduce engine knock.
92
__________ developed a high-density nickel-iron-alkaline battery that has come to be used mainly as a dependable standby source of electricity rather than a competitive prime mover for electric vehicles.
Thomas Edison
93
As discussed in the lecture and the book "Energy Myths and Realities," in the late 19th Century, three technologies competed to power the automobiles of the future. The three technologies were:
Electric, steam, and gasoline
94
Inventor Charles F. Kettering held a total of 186 patents. Many of his inventions were very influential in the automotive industry, including the development of Freon refrigerant for air conditioning systems, leaded gasoline to reduce knocks (with Thomas Midgley), and __________.
An electric starter that eliminated hand cranking to start gaoline-powered automobiles.
95
By the 1930s, there were __________ commercial makers of electric automobiles in the U.S.
0
96
In the late 19th Century, three technologies competed to power the automobiles of the future. The three technologies were:
Electric, steam, and gasoline
97
Which country has bold plans, officially set at 40 GW of capacity by the year 2020 but recently estimated to reach perhaps as much as 70 GW in that year?
China
98
According to Glenn Seaborg, chairman of the US Atomic Energy Commission, what would not only generate nearly all of the world's electricity; they would also transform the world's agriculture by energizing food production complexes?
Fission Reactors
99
Which complexes, centered on large nuclear plants and located in coastal desert areas, were to produce energy for the desalinization of sea water, synthesis of fertilizers, industrial activity, and intensive crop cultivation that would make desert habitable?
Nuplexes
100
What were some of the nuclear wonders that were to be in place by the year 2000?
All of the Choices (Giant satellite, nuke tankers, underground nuke explosives, nuke propulsion take men to mars
101
What were some of the factors that halted, and then reversed, the nuclear expansions?
All of the Choices (Drop in electric demane, shortage of skilled labor, delays, cumbersome regulations)
102
Which USA President announced his Atoms for Peace plan after the explosion of the first Soviet thermonuclear device in December 1953?
Dwight D. Eisenhower
103
Which energy is the only low-carbon footprint option that is readily available on a gigawatt -level scale?
Nuclear Power
104
The quintupling of world oil prices in 1973-1974 had a decidedly negative effect on nuclear fortunes.
TRUE
105
By the late 1980's, what became so bad that a detailed study of nuclear plants under construction concluded that the least expansive choice was not to complete them, and many were not completed?
cost overruns
106
Lewis Strauss statement on electrical energy should obviously not be taken literally, as even "free" electricity would have to be transformed, transmitted, and distributed to users, requiring the construction and maintenance of an extensive and costly infrastructure?
"Too cheap to meter"
107
Who told the National Association of Science Writers in New York that our children will enjoy in their homes electrical energy too cheap to meter?
Lewis L. Strauss
108
What were the headlines even in the previously skeptical scientific periodicals that indicated an increasing openness to nuclear power?
All of the choices (Is the Friendly Atom posed for a comeback, Nuclear Reincarnation, Spinning a Nuclear Comeback)
