Techno-Economic Impact of Diesel Fuel, Labor, and Interest Rates on Bulk-Format and Round Bale Logistics Expenses for Switchgrass

2020 ◽  
Vol 63 (4) ◽  
pp. 865-879
Author(s):  
Alvin R. Womac ◽  
Mitch D. Groothuis
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Diesel Fuel ◽  
Shear Failure ◽  
List Type ◽  
Fuel Cost ◽  
Labor Costs ◽  
Total Cost ◽  
Fuel Prices ◽  
Total Labor

HighlightsSystem-wide sensitivity of bulk-format and round bale logistics responded to different degrees of expense inputs.Biomass size-reduction expenses for bulk-format were consistently less than round-bale chopping.Stack/reclaim operations with high-density-capacity equipment for bulk-format were the highest expenses.Clean-sheet design of stacker/reclaimer and self-compacting bulk trailer may significantly reduce expenses.Abstract. Deterministic cost analyses were conducted for a harvest, storage, preprocessing, and supply system providing 371,870 dry Mg (dMg) year-1 of milled switchgrass (SG) to a biorefinery from 21,929 ha of production fields within 72 km of the biorefinery. Varied input costs of diesel fuel, labor, and interest rate were input into a highly detailed cost analysis for bulk-format and baseline round bale logistics. These operational input factors, potentially reflecting an evolving economic climate or paradigm shift, were examined to provide insight into the cost to deliver preprocessed biomass feedstock for centralized commercial-scale conversions. Total annual costs per dry unit of SG were determined for all combinations of diesel fuel prices of $0.53 L-1, $0.92 L-1, and $1.32 L-1; total labor costs of $20.00 h-1, $28.85 h-1, and $40.00 h-1 singly and uniformly applied across all labor inputs; and three representative interest rates of 6%, 8%, and 12%. Increases in total cost most depended on increases in diesel fuel cost, followed by labor rate, and finally interest rate. Increases in fuel costs from $0.53 L-1 to $1.32 L-1 yielded a total cost increase of about $11.56 dMg-1 and $13.36 dMg-1 for bulk-format and round bale logistics, respectively, for all combinations of labor and interest rates. The overall increase in labor rate ($20.00 h-1 to $40.85 h-1) resulted in increased total costs of about $10.32 dMg-1 for bulk-format logistics and $9.94 dMg-1 for round bale logistics for all fuel and interest rates. The overall increase in interest rate (6% to 12%) resulted in increased total costs of about $6.72 dMg-1 for bulk-format logistics and $4.21 dMg-1 for round bale logistics for all fuel and labor rates. Increases in total costs for combined increases in fuel cost, labor rate, and interest rate were $28.60 dMg-1 and $27.48 dMg-1, yielding maximum total costs of $87.87 dMg-1 and $86.53 dMg-1 for bulk-format and round bale logistics, respectively. Costs were determined for existing equipment systems, including novel use of waste compaction and ejector semi-trailers. The highest potential for cost reductions may require clean-sheet equipment designs specifically tailored for SG, such as forage harvesters that direct-cut standing SG, mobilized stacker-reclaimer technology to not inhibit stack-area footprint, self-compacting ejector trailer technology, and bale grinding technology incorporating controlled mass feeding and shear failure elements. Keywords: Bales, Bioenergy, Bulk-format, Densification, Field chop, Logistics, Transportation

Low-Moisture Switchgrass Bulk-Format Logistics Costs Based on Engineering Data

2018 ◽  
Vol 61 (2) ◽  
pp. 341-354
Author(s):  
Alvin R. Womac ◽  
Mitch D. Groothuis ◽  
Kelly Tiller ◽  
Sam W. Jackson ◽  
Clay Dye
Keyword(s):  
Diesel Fuel ◽  
Economic Advantage ◽  
Dust Collection ◽  
Total Cost ◽  
Fuel Prices ◽  
Engineering Data ◽  
Wide Range ◽  
Fuel Costs ◽  
Forage Harvester ◽  
Input Cost

Abstract. Logistics costs that spanned harvest, transport, storage, preprocessing, and year-round delivery of 371,870 dMg year-1 of milled, low-moisture switchgrass (SG) to a local biorefinery were determined for bulk-format versus round-bale systems. Separate spreadsheet analyses were conducted for three diesel fuel prices ($0.53 L-1, $0.92 L-1, and $1.32 L-1) because of the wide range of fuel prices during the project. A detailed analysis scenario identified a common harvest period, equipment annual use, other equipment uses, and protected SG storage on gravel pad, along with equipment performances based on previously published tests primarily for commercially available equipment. The bulk-format system used a depot equipped with stacker/reclaimer technology for storage, whereas the round-bale system used field-side bale stacks for storage, with both systems assuming 6% losses, primarily attributed to storage. Results indicated total costs for bulk-format versus round-bale systems of $54.63 per dry Mg (dMg-1), $60.41 dMg-1, and $66.21 dMg-1 versus $54.59 dMg-1, $62.10 dMg-1, and $67.93 dMg-1 corresponding with diesel fuel costs of $0.53 L-1, $0.92 L-1, and $1.32 L-1, respectively. The most significant bulk-format system total cost of $22.79 dMg-1 was associated with a stacker/reclaimer, conveyance, and dust collection at the depot, which was 42% of total costs at a diesel fuel cost of $0.53 L-1. For the round-bale system, bale chopping total costs was highest and represented an average of 27% of total costs, with costs ranging from $14.63 dMg-1 to $19.08 dMg-1 for diesel fuel input costs ranging from $0.53 L-1 to $1.32 L-1, respectively. For comparison, the forage harvester provided harvesting and chopping in the bulk-format system at total costs ranging from $6.47 dMg-1 to $8.80 dMg-1 across the same range of diesel fuel input cost. The forage harvester provided an economic advantage in size reduction compared to tub grinding. Truck hauling for both the bulk-format and round-bale systems represented significant expenses at all selected fuel costs. In addition, the multiple times that round bales were handled represented accumulating costs that were sensitive to diesel fuel costs. Keywords: Bales, Bioenergy, Bulk format, Densification, Field chop, Logistics, Transportation.

Economic effects of monetary policy in Russia: What do large datasets tell us?

2020 ◽  
pp. 31-53 ◽  
Author(s):  
Anna A. Pestova ◽  
Natalia A. Rostova
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Interest Rates ◽  
Economic Activity ◽  
Global Financial Crisis ◽  
Exchange Rate Regime ◽  
Aggregate Demand ◽  
Economic Effects ◽  
Theoretical Concepts ◽  
Empirical Estimates

Is the Bank of Russia able to control inflation and, at the same time, manage aggregate demand using its interest rate instruments? In other words, are empirical estimates of the effects of monetary policy in Russia consistent with the theoretical concepts and experience of advanced economies? This paper is aimed at addressing these issues. Unlike previous research, we employ “big data” — a large dataset of macroeconomic and financial data — to estimate the effects of monetary policy in Russia. We focus exclusively on the period after the 2008—2009 global financial crisis when the Bank of Russia announced the abandoning of its fixed ruble exchange rate regime and started to gradually transit to an interest rate management. Our estimation results do not confirm standard responses of key economic activity and price variables to tightening of monetary policy. Specifically, our estimates do not reveal a statistically significant restraining effect of the Bank of Russia’s policy of high interest rates on inflation in recent years. At the same time, we find a significant deteriorating effect of the monetary tightening on economic activity indicators: according to our conservative estimates, each of the key rate increases occurred in March and December 2014 had led to a decrease in the industrial production index by about 0.2 percentage points within a year.

DETERMINAN INFLASI DI INDONESIA PERIODE 1980-2015

2016 ◽  
Vol 21 (1) ◽  
pp. 1-7
Author(s):  
Risna Risna
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Money Supply ◽  
Government Spending ◽  
Positive Impact ◽  
Secondary Data ◽  
Quantitative Approach ◽  
State Spending ◽  
Factors Affecting ◽  
The Interest Rate

This study aims to determine the effect of government spending, the money supply, the interest rate of Bank Indonesia against inflation.This study uses secondary data. Secondary data were obtained directly from the Central Bureau of Statistics and Bank Indonesia. It can be said that there are factors affecting inflationas government spending, money supply, and interest rates BI. The reseach uses a quantitative approach to methods of e-views in the data. The results of analysis of three variables show that state spending significantand positive impact on inflationin Indonesia, the money supply significantand negative to inflationin Indonesia, BI rate a significantand positive impact on inflation in Indonesia

FAKTOR DETERMINAN PENYALURAN KREDIT BANK PERSERO

2018 ◽  
Vol 23 (1) ◽  
pp. 60-71
Author(s):  
Wigiyanti Masodah
Keyword(s):  
Interest Rate ◽  
Linear Regression ◽  
Interest Rates ◽  
Regression Models ◽  
Linear Regression Models ◽  
Negative Impacts ◽  
Main Activity ◽  
The Impact ◽  
The Given ◽  
Multiple Linear Regression Models

Offering credit is the main activity of a Bank. There are some considerations when a bank offers credit, that includes Interest Rates, Inflation, and NPL. This study aims to find out the impact of Variable Interest Rates, Inflation variables and NPL variables on credit disbursed. The object in this study is state-owned banks. The method of analysis in this study uses multiple linear regression models. The results of the study have shown that Interest Rates and NPL gave some negative impacts on the given credit. Meanwhile, Inflation variable does not have a significant effect on credit given. Keywords: Interest Rate, Inflation, NPL, offered Credit.

scholarly journals Pareto Efficient Auctions with Interest Rates

2019 ◽  
Vol 33 ◽  
pp. 1989-1995
Author(s):  
Gagan Goel ◽  
Vahab Mirrokni ◽  
Renato Paes Leme
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Utility Functions ◽  
Limited Access ◽  
Incentive Compatible ◽  
Pareto Efficient ◽  
Available Resources

We consider auction settings in which agents have limited access to monetary resources but are able to make payments larger than their available resources by taking loans with a certain interest rate. This setting is a strict generalization of budget constrained utility functions (which corresponds to infinite interest rates). Our main result is an incentive compatible and Pareto-efficient auction for a divisible multi-unit setting with 2 players who are able to borrow money with the same interest rate. The auction is an ascending price clock auction that bears some similarities to the clinching auction but at the same time is a considerable departure from this framework: allocated goods can be de-allocated in future and given to other agents and prices for previously allocated goods can be raised.

scholarly journals Risk Management for Bonds with Embedded Options

Mathematics ◽  
2020 ◽  
Vol 8 (5) ◽  
pp. 790
Author(s):  
Antonio Díaz ◽  
Marta Tolentino
Keyword(s):  
Risk Management ◽  
Interest Rate ◽  
Interest Rates ◽  
Interest Rate Risk ◽  
Interest Rate Models ◽  
Management Measures ◽  
Interest Rate Risk Management ◽  
Embedded Options ◽  
The Interest Rate ◽  
Interest Rate Change

This paper examines the behavior of the interest rate risk management measures for bonds with embedded options and studies factors it depends on. The contingent option exercise implies that both the pricing and the risk management of bonds requires modelling future interest rates. We use the Ho and Lee (HL) and Black, Derman, and Toy (BDT) consistent interest rate models. In addition, specific interest rate measures that consider the contingent cash-flow structure of these coupon-bearing bonds must be computed. In our empirical analysis, we obtained evidence that effective duration and effective convexity depend primarily on the level of the forward interest rate and volatility. In addition, the higher the interest rate change and the lower the volatility, the greater the differences in pricing of these bonds when using the HL or BDT models.

The Effects of Storage Duration on Biodiesel Derived from Waste Cooking Oil

2014 ◽  
Vol 660 ◽  
pp. 386-390 ◽  
Author(s):  
Norazwan Azman ◽  
Mirnah Suardi ◽  
Amir Khalid
Keyword(s):  
Diesel Fuel ◽  
Fossil Fuels ◽  
Acid Value ◽  
Waste Cooking Oil ◽  
Biodiesel Fuel ◽  
Storage Duration ◽  
Fuel Prices ◽  
Cooking Oil ◽  
Impact Reduction ◽  
The Impact

The use of fossil fuels as energy sources has grown to significantly be likely to have a major environmental impact. Reduction of world oil reserves and increasing environmental concerns have prompted alternative is found and renewable source of energy called biodiesel. Biodiesel fuel from vegetable oil is considered as the best candidates for diesel fuel replacement in diesel engines because of its closer. Fuel prices are going up day by day in the world. Thus, the means and methods have been trying for years to get fuel alternative outcomes. This study investigated the effects of different storage periods used in quality biodiesel blends (B5, B10, B15) of waste cooking oil and diesel fuel under low temperature and the temperature of the environment. Biodiesel samples were stored in glass containers under indoor conditions, and outdoor conditions for 10 weeks in total. These samples were monitored on a weekly basis through the test properties. The experimental density, viscosity, acid value, water content and flash point discussed in detail. Biodiesel storage at low temperatures is suitable and more advantageous because the impact on the physical properties is minimal and beneficial to slow down the degradation of biodiesel and storage.

scholarly journals CANDIDE et la monnaie

2009 ◽  
Vol 52 (1) ◽  
pp. 75-103
Author(s):  
Jean-Pierre Aubry ◽  
Pierre Duguay
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Term Structure ◽  
Structural Equations ◽  
Reduced Form ◽  
Real Sector ◽  
Short Term ◽  
The Real ◽  
Structure Equations

Abstract In this paper we deal with the financial sector of CANDIDE 1.1. We are concerned with the determination of the short-term interest rate, the term structure equations, and the channels through which monetary policy influences the real sector. The short-term rate is determined by a straightforward application of Keynesian liquidity preference theory. A serious problem arises from the directly estimated reduced form equation, which implies that the demand for high powered money, but not the demand for actual deposits, is a stable function of income and interest rates. The structural equations imply the opposite. In the term structure equations, allowance is made for the smaller variance of the long-term rates, but insufficient explanation is given for their sharper upward trend. This leads to an overstatement of the significance of the U.S. long-term rate that must perform the explanatory role. Moreover a strong structural hierarchy, by which the long Canada rate wags the industrial rate, is imposed without prior testing. In CANDIDE two channels of monetary influence are recognized: the costs of capital and the availability of credit. They affect the business fixed investment and housing sectors. The potential of the personal consumption sector is not recognized, the wealth and real balance effects are bypassed, the credit availability proxy is incorrect, the interest rate used in the real sector is nominal rather than real, and the specification of the housing sector is dubious.

Sign in / Sign up

Export Citation Format

Share Document