IS THE U.S. SHALE GAS BOOM HAVING AN EFFECT ON THE EUROPEAN GAS MARKET?

This thesis focuses on the impact of the American shale gas boom on the European natural gas market. The study presents different tests in order to analyze the dynamics of natural gas prices in the U.S., U.K. and German natural gas market. The question of cointegration between these different markets are analyzed using several tests. More specifically, the ADF tests for the presence of a unit root. The error correction model test and the Johansen cointegration procedure are applied in order to accept or reject the hypothesis of an integrated market. The results suggest no evidence of cointegration between these markets. There currently is no evidence of an impact of the U.S. shale gas boom on the European market.

Economic sustainability of the Flambeau Mine Ladysmith, Wisconsin

Today sustainable development is a very pertinent issue. Communities do not want companies, specifically mining companies, to deplete a natural resource and leave. The goal is to minimize the negative impacts of mining and the boom/bust cycles of natural resource extraction. In this study a three part framework was developed to analyze the sustainability of the Flambeau Mine in Ladysmith, Wisconsin. The first and second part dealt with an in-depth local and regional analysis and whether the community was developing within its own vision. The third part used nine sustainability measures including: 1. Need Present Generation 2. Future Need 3. Acceptable Legacy 4. Full-Cost 5. Contribution to Economic Development 6. Equity 7. Consent 8. Respect for Ecological Limits, Maintenance of Ecological Integrity and Landscape Requirements 9. Offsetting Restoration This study concluded that the Flambeau Mine was sustainable relative to the first two criteria and that it can be considered mostly sustainable relative to the nine criteria. Overall it can be stated that the Flambeau Mine was a beneficial project to the Ladysmith Wisconsin area. Additionally it appeared to decrease the public’s negative perception of mining. Recommendations for future analytical work are made. Suggestions are made as to how mining companies could increase the potential for the attainment of sustainability in projects. It is recommended that this framework be used by other industries.

An Ecological and Chemical Assessment of Copper Contaminated Streams in the Keweenaw Peninsula

The copper mining boom in Michigan's Upper Peninsula ended in the mid-1960s, but the historical mining still affects the region to this day. Earlier studies conducted in the Keweenaw have shown that trace metals in the sediments negatively affect benthic macroinvertebrate populations. However, because the concentrations of trace metals that are observed to be toxic often differ significantly between the laboratory and the environment, a better method for determining toxic levels of trace metals in the natural environment is desirable in order to establish surface water quality guidelines that effectively protect aquatic life. There were four research objectives for this research project. First, to determine if trace-level concentrations of copper can result in detectable ecological impacts even in the presence of high dissolved organic carbon (DOC). Second, to determine if there is a "safe" concentration of total dissolved copper below which there is little to no ecological impairment. Third, to establish which streams in the Keweenaw Peninsula have been most impacted by elevated levels of total dissolved copper. Fourth, to use this information to evaluate revisions to the water quality criterion for copper that were recently proposed by the Michigan Department of Environmental Quality (MDEQ). In order to collect water quality and macroinvertebrate data, two sampling surveys of approximately 50 streams were completed in the spring and summer of 2012. Our findings demonstrate that negative ecological impacts can be detected even in the presence of high concentrations of DOC. The majority of surveyed streams showed evidence of total dissolved copper concentrations that were elevated above background levels. Our findings suggest that there are detectable negative impacts below the current water quality standard for copper in many Keweenaw streams. The diversity of benthic macroinvertebrates and the number of species present has been reduced as a result of exposure to copper. Additionally, the multimetric approach used by MDEQ is unable to detect copper impairment in local streams due to the use of several insensitive metrics. The proposed changes to the copper criterion would increase the amount of total dissolved copper allowable despite the fact that approximately 25% of streams sampled have aquatic chemistries that would leave them vulnerable to high levels of copper ions.

Mainari, Farmari, Lumperjäkki, Piika : “Ethnic Identity” and Earning a Living in the Keweenaw and Nickel Belts to 1930

Job seekers in resource-based economic settings like the Keweenaw Peninsula in Upper Michigan and the Nickel Basin surrounding Sudbury, Ontario faced many challenges, from the dangers of the job to corporate domination to the “boom and bust” nature of inevitably limited supplies of even “endless” natural riches. Adding to these many challenges in both settings was the employer view that you were best suited to certain tasks. This paper examines these expectations from “both” ends – how and why did employers see matters this way, and what did the “recipients” make of being cast in certain roles ? Did the newcomers also expect to earn their keep from a limited range of options ? While the last word on this issue awaits a much larger study, even a glance can inform both the scholar of resource settings and the ethnic historian about an important element of resource-based economies. This paper, then, examines the links between stereotype, preference, and necessity – to what extent did local populations fight, appreciate or succumb to expectation when “making a living.” As the title suggests, Finns get significant attention, as befits both settings under study. However, the paper looks to similar trends amongst a broad demographic swathe in each setting. Was “who” you were the crucial element in finding sustenance ? “Ethnic”, Aboriginal, or “established settler society” – what factors shaped economic expectations, choices and roles?

Technology, mining methods and landscapes of a placer mining district in Fairbanks, Alaska, 1900-1930

Placer miners in Alaska’s interior were part of the last great gold rush in North America. As word of gold in the Fairbanks Mining District traveled down the Yukon River, a wave of miners from the Klondike placer fields in Dawson, along with a assortment of speculators and inexperienced green horns from the Lower 48 converged on the confluence of the Tanana and Chena rivers hoping to strike it rich. The steamers coming from Dawson were integral; they carried miners with experience working the frozen subarctic placer deposits of the Klondike. These miners encountered new environmental challenges that required the development of new technologies and mining methods to efficiently harvest gold. These methods and machines were brought into Fairbanks and further perfected to account for the local conditions. This thesis describes the local mining technologies and methods employed in the Fairbanks district and the landscape patterns created during the placer mining boom years of 1903-1909, decline years of 1910-1923 and recovery of 1923-1930.

ECONOMIC PROFITABILITY OF THE BAKKEN, NORTH DAKOTA UNCONVENTIONAL OIL PLAYS BASED ON A TYPICAL WELL PERFORMANCE WITH CURRENT MARKET CONDITIONS

Increases in oil prices after the economic recession have been surprising for domestic oil production in the United States since the beginning of 2009. Not only did the conventional oil extraction increase, but unconventional oil production and exploration also improved greatly with the favorable economic conditions. This favorable economy encourages companies to invest in new reservoirs and technological developments. Recently, enhanced drilling techniques including hydraulic fracturing and horizontal drilling have been supporting the domestic economy by way of unconventional shale and tight oil from various U.S. locations. One of the main contributors to this oil boom is the unconventional oil production from the North Dakota Bakken field. Horizontal drilling has increased oil production in the Bakken field, but the economic issues of unconventional oil extraction are still debatable due to volatile oil prices, high decline rates of production, a limited production period, high production costs, and lack of transportation. The economic profitability and viability of the unconventional oil play in the North Dakota Bakken was tested with an economic analysis of average Bakken unconventional well features. Scenario analysis demonstrated that a typical North Dakota Bakken unconventional oil well is profitable and viable as shown by three financial metrics; net present value, internal rate of return, and break-even prices.