NON-GAUSSIAN STATISTICS OF OIL PRICING TIME-SERIES: A CASE STUDY

The stochastic nature of oil price fluctuations is investigated over a twelve-year period, borrowing feedback from an existing database (USA Energy Information Administration database, available online). We evaluate the scaling exponents of the fluctuations by employing different statistical analysis methods, namely rescaled range analysis (R/S), scale windowed variance analysis (SWV) and the generalized Hurst exponent (GH) method. Relying on the scaling exponents obtained, we apply a rescaling procedure to investigate the complex characteristics of the probability density functions (PDFs) dominating oil price fluctuations. It is found that PDFs exhibit scale invariance, and in fact collapse onto a single curve when increments are measured over microscales (typically less than 30 days). The time evolution of the distributions is well fitted by a Levy-type stable distribution. The relevance of a Levy distribution is made plausible by a simple model of nonlinear transfer. Our results also exhibit a degree of multifractality as the PDFs change and converge toward to a Gaussian distribution at the macroscales.

HTS Machines as Enabling Technology for All-Electric Airborne Vehicles

Environmental protection has now become paramount as evidence mounts to support the thesis of human activity-driven global warming. A global reduction of the emissions of pollutants into the atmosphere is therefore needed and new technologies have to be considered. A large part of the emissions come from transportation vehicles, including cars, trucks and airplanes, due to the nature of their combustion-based propulsion systems. Our team has been working for several years on the development of high power density superconducting motors for aircraft propulsion and fuel cell based power systems for aircraft. This paper investigates the feasibility of all-electric aircraft based on currently available technology. Electric propulsion would require the development of high power density electric propulsion motors, generators, power management and distribution systems. The requirements in terms of weight and volume of these components cannot be achieved with conventional technologies; however, the use of superconductors associated with hydrogen-based power plants makes possible the design of a reasonably light power system and would therefore enable the development of all-electric aero-vehicles. A system sizing has been performed both for actuators and for primary propulsion. Many advantages would come from electrical propulsion such as better controllability of the propulsion, higher efficiency, higher availability and less maintenance needs. Superconducting machines may very well be the enabling technology for all-electric aircraft development.

HTS Motors in Aircraft Propulsion: Design Considerations

Current high temperature superconducting (HTS) wires exhibit high current densities enabling their use in electrical rotating machinery. The possibility of designing high power density superconducting motors operating at reasonable temperatures allows for new applications in mobile systems in which size and weight represent key design parameters. Thus, all-electric aircrafts represent a promising application for HTS motors. The design of such a complex system as an aircraft consists of a multi-variable optimization that requires computer models and advanced design procedures. This paper presents a specific sizing model of superconducting propulsion motors to be used in aircraft design. The model also takes into account the cooling system. The requirements for this application are presented in terms of power and dynamics as well as a load profile corresponding to a typical mission. We discuss the design implications of using a superconducting motor on an aircraft as well as the integration of the electrical propulsion in the aircraft, and the scaling laws derived from physics-based modeling of HTS motors.