
Patrick C. answered 10/23/21
Recent McGill University grad looking to help students succeed!
This question is missing some information we'd need to answer it entirely, it looks as if it was copied directly off a HW assignment. . . ("Explain your response and include some information you learned from researching the topic in news reports"). I digress.
When approaching this question as if it were on an exam we ought to strategize so that it takes the least amount of time possible. For this we need to not get caught up in the irrelevant information. My suggestion would be to read this type of question once through, circling/highlighting/underlining (whatever method works best for you) all the numerical values in the text as you come across them. This will give you quick visual references when you have to break apart what the problem is actually asking you to do.
Make sure you answer all parts of a question like this--the first value we're instructed to give is the "minimum and maximum penalty for BP".
We can write ourselves a little outline of all the parts of the question we need to address before we make any calculations:
I. Calculate min. and max. penalty for BP
i. absolute max penalty is going to be (70,000 barrels + 70,000(.20) barrels) multiplied by 4300 dollars per barrel multiplied by 87 days
(70,000 + 14,000) x 4300 =
84,000 x 4300 =
361.2 million x 87 days = 31,424,400,000
ii. absolute minimum penalty is going to be (70,000 barrels - 70,000(.20) barrels) multiplied by 1100 dollars per barrel multiplied by 87 days
(70,000 - 14,000) x 1100 =
56,000 x 1100 =
61.6 million x 87 days = 5,359,200,000
A. Final settlement = what % of max.?
18,700,000,000 over 31,424,400,000 = .59507
convert decimal to get 59.51% of max
B. Final settlement closest to min. max. or midrange?
i. calculate mean of min and max. (the midrange)
31,424,400,000 - 5,359,200,000 = 26,065,200,000
26,065,200,000 / 2 = 13,032,600,000
ii. determine the difference between final settlement and min, max, and midrange (roughly)
approx. 9 billion between min and final
approx. 18 billion between max and final
approx. 5 billion between midrange and final
closest to midrange
C. Was 3rd phase fair?
This is fairly open ended, and we're not given a lot of details. With the limited information I would make the point that the final settlement was less than the average between the max and min possible penalty, so it was quite lenient compared to the fullest penalty of the regulations. In this sense it's fair.
D. What was the value of the oil at the time? What is its value now?
70,000 barrels per day x 87 days = 60,900,000 barrels
1 barrel = 42 gallons of oil
42 x 60,900,000 = 2,557,800,000 gallons
multiply this estimate by crude oil price at each time and you're done
E. "Practical" understanding of quantity
A bathtub conveniently also holds approx. 42 gallons, so using our calculations we can see that the spill is around the same size as 60,900,000 bathtubs full of oil!
II. Flow rate calculations
i. this problem most likely wants to think of the flowing pipe as a perfect cylinder of oil is exiting the pipe constantly in time. it's height is 30 inches and it's radius is 21 inches / 2 = 10.5 inches. 30 inches are 2.5 ft. 10.5 inches is 0.875 ft.
Volumecylinder = (pi)(r2)(h)
Vc = (pi)(0.8752)(2.5)
= 6.0132 ft3
ii. per second = 6.0132 ft3 / s
iii. per day = (6.0132 ft3 / s ) multiplied by (43200 seconds / day)
= 259,770.24 ft3 / day
iv. how does this compare to the gallon estimate?
1 ft3 = 7.48052 US liquid gallons
= 259,770.24 multiplied by 7.48052
= 1,943,216.4757 gallons per day
we must compare this to the 70,000 barrels per day approximation (2,940,000 gallons per day). there might be a discrepancy due to a different, more complex formula used to calculate the flow rate, they may have used the highest possible estimate.
III. Comparison to other oil spills
I'll leave this up to the reader because it requires information we are not given.
Yuliya D.
Thank you so much10/24/21