Incentive

A social problem may arise if in choosing their target levels of safety individual travelers fail to take into account fully any benefits or costs accruing to others. If effects external to individuals, externalities, exist and they are not considered by the individuals, then the resulting level of traffic safety will be inappropriate for society as a whole. The policy concern is that motorists are not safe enough because of external benefits of safety (external costs of accidents) which they ignore. 

Individual demand for traffic safety partly depends on avoiding the payment of medical expenses which will result from a traffic accident. While some outlay of money and time can be expected with each accident the outlay may be less than the total accident-related medical expense because of community-rated health insurance premiums or public assistance-related third party financing such as Medicaid and Medicare. The potential shift of some medical costs to those not involved in an accident means that individual demand for traffic safety tends to be too low. Similarly the demand may be too low because of the lack of precise experience rating for automobile insurance and possibly incomplete compensation for damaged parties through the courts especially when time costs and death are involved. 

Clearly these financial externalities do exist. We should be skeptical, however, of claims that these completely ruin individual safety choices. Fatal accident risks generate policy concern, but externalities seem to be small relative to the values that individuals place on reducing their own fatality risks. Recent estimates indicate that individuals are willing to pay approximately 

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Clearly, the potential hazard from runaway reactions is reduced by reducing the inventory of material in the reactor. Batch operation requires a larger inventory than the corresponding continuous reactor. Thus there may be a safety incentive to change from batch to continuous operation. Alternatively, the batch operation can be... 

The increase in the oil-change interval has already been a strong incentive for improving lubricant formulations. The increase in engine operating temperatures and the development of catalytic converters are without doubt two orientations that will have consequences on lubricant additives. 

The objective of any exploration venture is to find new volumes of hydrocarbons at a low cost and in a short period of time. Exploration budgets are in direct competition with acquisition opportunities. If a company spends more money finding oil than it would have had to spend buying the equivalent amount in the market place there is little Incentive to continue exploration. Conversely, a company which manages to find new reserves at low cost has a significant competitive edge since it can afford more exploration, find and develop reservoirs more profitably, and can target and develop smaller prospects. 

The contractor is paid per foot drilled. Whilst this will provide an incentive to make hole quickly, the same risks are involved as in the turnkey contract. Footage contracts are often used for the section above the prospective reservoir where hole conditions are less crucial from an evaluation or production point of view. 

In recent years a new approach to contracting has evolved and Is gaining rapid acceptance In the United Kingdom Continental Shelf (UKCS). The concept has become known as partnering and can be seen as a progression of the incentive contract. Whilst the previously described contractual arrangements are restricted to a single well project... 

At point A, despite full management commitment to safety performance, with low employee commitment to safety, the number of accidents remains high employees only follow procedures laid out because they feel they have to. At the other extreme, point B, when employee commitment is high, the number of accidents reduces dramatically employees feel responsible for their own safety as well as that of their colleagues. Employee commitment to safety is an attitude of mind rather than a taught discipline, and can be enhanced by training and (less effectively) incentive schemes. 

The recovery factor (RF) is in the range 30-70%, depending on the strength of the natural aquifer, or the efficiency with which the injected water sweeps the oil. The high RF is an incentive for water injection into reservoirs which lack natural water drive. 

One of the most cost effective forms of maintenance is to train the operators to visually Inspect the equipment on a daily basis. Careful selection of staff, appropriate training and incentives will help to improve what is often called first-line maintenance. 

Lump Sum contract contractor manages and executes specified work to an agreed delivery date for a fixed price. Penalties may be due for late completion of the work, and this provides an incentive for timely completion. Payment may be staged when agreed milestones are reached. 

Lump sum contracts tend to be favoured by companies awarding work (if the scope of work can be well defined) as they provide a clear incentive for the contractor to complete a project on time and within an agreed price. 

The choice of contract type will depend upon the type of work, and the level of control which the oil company wishes to maintain. There is a current trend for the oil company to consider the contractor as a partner in the project (partnering arrangements), and to work closely with the contractor at all stages of the project development. The objective of this closer involvement of the contractor is to provide a common incentive for the contractor and the oil company to improve quality, efficiency, safety, and most importantly to reduce cost. This type of contract usually contains a significant element of sharing risk and reward of the project. 

The United States Department of Energy purchases uranium in the form of acceptable U3O8 concentrates. This incentive program has greatly increased the known uranium reserves. 

The remainder of this chapter will provide the necessary background, from which the incentive of catalysing Diels-Alder reactions in water and the aims of the study will become apparent. 

Tautomerism Tax gallon Taxifolin Taxilan Tax incentives Taxol [330d9-d2-4]... 

California Advisory Board on Air QuaUty and Fuels, Vol. 1, Executive Summary, Vol. 2, Energy Security Report, Vol. 3, Environmental Health and Safety Report, Vol. 4, Economics Report, Vol. 5, Mandates and Incentives Report, San Francisco, Calif., June 13, 1990. 

The large amount of fluorine values released from phosphate rock in the manufacture of fertilisers (qv) gives a strong impetus to develop fluorine chemicals production from this source (see Phosphoric acid and the phosphates). Additional incentive comes from the need to control the emission of fluorine-containing gases. Most of the fluorine values are scmbbed out as fluorosiUcic acid, H2SiPg, which has limited useflilness. A procedure to convert fluorosihcic acid to calcium fluoride is available (61). 

One possible route is to make formaldehyde direcdy from methane by partial oxidation. This process has been extensively studied (106—108). The incentive for such a process is reduction of raw material costs by avoiding the capital and expense of producing the methanol from methane. 

A third possible route is to produce formaldehyde from methyla1 that is produced from methanol and formaldehyde (112,113). The incentive for such a process is twofold. Eirst, a higher concentrated formaldehyde product of 70% could be made by methyla1 oxidation as opposed to methanol... 

Ref. 10. Assumes noncrisis conditions, tax incentives and PURPA ia place continued to 2000, no legislative mandates to embark on an off-oil campaign, and total consumption of 91.7 EJ ia 2000. 

A projection of biomass energy consumption in the United States for the years 2000, 2010, 2020, and 2030 is shown in Table 6 by end use sector (12). This analysis is based on a National Premiums Scenario which assumes that specific market incentives are appHed to aU. new renewable energy technology deployment. The scenario depends on the enactment of federal legislation equivalent to a fossil fuel consumption tax. Any incentives over and above those in place (ca 1992) for use of renewable energy will have a significant impact on biomass energy consumption. 

EJ = 0.9488 X 10 Btu. Assumes market incentives of 2 /kWh on fossil fuel-based electricity generation, 2.00/10 Btu on direct coal and petroleum consumption, and 1.00/10 Btu on direct natural gas consumption. 

The market penetration of synthetic fuels from biomass and wastes in the United States depends on several basic factors, eg, demand, price, performance, competitive feedstock uses, government incentives, whether estabUshed fuel is replaced by a chemically identical fuel or a different product, and cost and availabiUty of other fuels such as oil and natural gas. Detailed analyses have been performed to predict the market penetration of biomass energy well into the twenty-first century. A range of from 3 to about 21 EJ seems to characterize the results of most of these studies. 

Another factor is the potential economic benefit that may be realized due to possible future environmental regulations from utilizing both waste and virgin biomass as energy resources. Carbon taxes imposed on the use of fossil fuels in the United States to help reduce undesirable automobile and power plant emissions to the atmosphere would provide additional economic incentives to stimulate development of new biomass energy systems. Certain tax credits and subsidies are already available for commercial use of specific types of biomass energy systems (93). 

The Energy PoHcy Act of 1992 (H.R. 776) has Hberalized the rules concerning biofuels and provides tax incentives for increased usage. Many states also have gasohol fuel tax exemptions in place, and some have enacted legislation that requites use of oxygenated fuels under certain conditions. Most of these laws impact favorably on biofuels usage. 

Ethers, such as MTBE and methyl / fZ-amyl ether (TAME) are made by a catalytic process from methanol (qv) and the corresponding isomeric olefin. These ethers have excellent octane values and compete on an economic basis with alkylation for inclusion in gasoline. Another ether, ethyl tert-huty ether (ETBE) is made from ethanol (qv) and isobutylene (see Butylenes). The cost and economic driving forces to use ETBE vs MTBE or TAME ate a function of the raw material costs and any tax incentives that may be provided because of the ethanol that is used to produce it. 

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