Regulatory Risk: Economic Principles and Applications to Natural Gas Pipelines and Other Industries, 1993
are highly skilled and thoughtful economists. Their thoroughness, analytical abilities, and appre... more are highly skilled and thoughtful economists. Their thoroughness, analytical abilities, and appreciation for economic subtleties are well demonstrated in Regulatory Risk: Economic Principles and Applications to Natural Gas Pipelines and Other Industries. The authors present a lengthy and detailed argument that in setting rates of return, regulators must specifically recognize the risk of potential disallowances on the grounds that costs have been imprudently incurred or assets have turned out not to be "used and useful." In the context of the arcane world of regulated rate-of-return analysis, the work is professional, well documented, and quite systematic, particularly in regard to natural gas pipelines. Also demonstrated, however, are the inherent limitations of a narrow, one-dimensional analysis of a very complex problem. Indeed, much of what the authors describe as "regulatory risk" is not a function of regulation at all. It is the inevitable result of a fundamental change in the markets of regulated utility companies. The central irony of the book is that three learned economists have spent their energy producing a monograph on rate-of-return analysis amidst a tide of economic change that threatens to render such analyses obsolete. The book's approach is that of an accomplished expert witness responding at great depth to a carefully defined question. In the broader world of utility regulation, however, the theoretical underpinning of the work never moves beyond a narrow and somewhat controversial economic analysis. Such analysis is only a small piece of a much larger picture, critical to understanding the subject of "regulatory risk." The authors' call for specific recognition of "regulatory risk" would have made for interesting hearing-room theatrics in the days of yore, when the issues at stake really were played out in front of utility commissioners or judges. Such narrowly crafted arguments, focused on specific outcomes, are
Three dimensional finite element analyses were performed to evaluate the structural integrity of ... more Three dimensional finite element analyses were performed to evaluate the structural integrity of the caverns located at the Bayou Choctaw (BC) site which is considered a candidate for expansion. Fifteen active and nine abandoned caverns exist at BC, with a total cavern volume of some 164 MMB. A 3D model allowing control of each cavern individually was constructed because the location and depth of caverns and the date of excavation are irregular. The total cavern volume has practical interest, as this void space affects total creep closure in the BC salt mass. Operations including both cavern workover, where wellhead pressures are temporarily reduced to atmospheric, and cavern enlargement due to leaching during oil drawdowns that use water to displace the oil from the caverns, were modeled to account for as many as the five future oil drawdowns in the six SPR caverns. The impacts on cavern stability, underground creep closure, surface subsidence, infrastructure, and well integrity were quantified.
A continuación, se desarrolla la solución de tres problemas simples pero característicos desde el... more A continuación, se desarrolla la solución de tres problemas simples pero característicos desde el punto de vista operativo de la Transformada Inversa de Laplace con el objeto de establecer las tres técnicas básicas para la aplicación de esta clase de transformación, que se desprenden de la necesaria descomposición en fracciones parciales, sin olvidar por parte del estudiante que hay problemas donde puede ser imprescindible aplicarlas todas para poder llegar a la solución final.
Regulatory Risk: Economic Principles and Applications to Natural Gas Pipelines and Other Industries, 1993
are highly skilled and thoughtful economists. Their thoroughness, analytical abilities, and appre... more are highly skilled and thoughtful economists. Their thoroughness, analytical abilities, and appreciation for economic subtleties are well demonstrated in Regulatory Risk: Economic Principles and Applications to Natural Gas Pipelines and Other Industries. The authors present a lengthy and detailed argument that in setting rates of return, regulators must specifically recognize the risk of potential disallowances on the grounds that costs have been imprudently incurred or assets have turned out not to be "used and useful." In the context of the arcane world of regulated rate-of-return analysis, the work is professional, well documented, and quite systematic, particularly in regard to natural gas pipelines. Also demonstrated, however, are the inherent limitations of a narrow, one-dimensional analysis of a very complex problem. Indeed, much of what the authors describe as "regulatory risk" is not a function of regulation at all. It is the inevitable result of a fundamental change in the markets of regulated utility companies. The central irony of the book is that three learned economists have spent their energy producing a monograph on rate-of-return analysis amidst a tide of economic change that threatens to render such analyses obsolete. The book's approach is that of an accomplished expert witness responding at great depth to a carefully defined question. In the broader world of utility regulation, however, the theoretical underpinning of the work never moves beyond a narrow and somewhat controversial economic analysis. Such analysis is only a small piece of a much larger picture, critical to understanding the subject of "regulatory risk." The authors' call for specific recognition of "regulatory risk" would have made for interesting hearing-room theatrics in the days of yore, when the issues at stake really were played out in front of utility commissioners or judges. Such narrowly crafted arguments, focused on specific outcomes, are
Three dimensional finite element analyses were performed to evaluate the structural integrity of ... more Three dimensional finite element analyses were performed to evaluate the structural integrity of the caverns located at the Bayou Choctaw (BC) site which is considered a candidate for expansion. Fifteen active and nine abandoned caverns exist at BC, with a total cavern volume of some 164 MMB. A 3D model allowing control of each cavern individually was constructed because the location and depth of caverns and the date of excavation are irregular. The total cavern volume has practical interest, as this void space affects total creep closure in the BC salt mass. Operations including both cavern workover, where wellhead pressures are temporarily reduced to atmospheric, and cavern enlargement due to leaching during oil drawdowns that use water to displace the oil from the caverns, were modeled to account for as many as the five future oil drawdowns in the six SPR caverns. The impacts on cavern stability, underground creep closure, surface subsidence, infrastructure, and well integrity were quantified.
A continuación, se desarrolla la solución de tres problemas simples pero característicos desde el... more A continuación, se desarrolla la solución de tres problemas simples pero característicos desde el punto de vista operativo de la Transformada Inversa de Laplace con el objeto de establecer las tres técnicas básicas para la aplicación de esta clase de transformación, que se desprenden de la necesaria descomposición en fracciones parciales, sin olvidar por parte del estudiante que hay problemas donde puede ser imprescindible aplicarlas todas para poder llegar a la solución final.
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