Life cycle cost (LCC) and the economic impact of the national biofuels development through biorefinery concept and circular economy

The challenge in the life cycle costing (LCC) analysis of the national biofuel industry is an economic analysis to determine all production costs incurred by the production process from facility construction to waste management. Regarding the Biofuel Supply Chain, the entire process of producing palm oil biodiesel is divided into three stages: production of fresh fruit bunches (FFB), production of crude palm oil (CPO), and biodiesel. LCC analysis is applied by adding an externality variable, providing comprehensive information on the cost structure of palm oil-based biodiesel production. To determine the total cost of externalities that occur due to biodiesel production, the impacts of land use, social costs and environmental costs such as emissions of air pollutants on palm oil biodiesel are considered. The results show that the LCC analysis applied by adding externality variables provides detailed information about biofuel production costs’ composition and hotspots. It can be used to determine hotspots, streamline production, obtain an overview of the most competitive total production costs, and minimize environmental impacts along its supply chain.

Partisipasi Masyarakat Lokal dalam Pengembangan Kawasan Wisata Geopark Batur di Kintamani Kabupaten Bangli

This study aims to examine the participation of local communities in the development of the Batur Geopark tourist area in Kintamani, Bangli Regency regarding the participation of local communities in the development of the Batur Geopark tourist area, the obstacles faced by local communities in the development of the Batur Geopark tourist area, and the efforts made by the Government in developing the tourist area Batur Geopark. In this study the data collected through interviews, observations, literature studies, documentation studies, and the Community then analyzed the data using qualitative descriptive data analysis techniques. The presentation of data analysis in this study was carried out qualitatively through verbal delivery with interpretative descriptive techniques. The results of this study indicate that in the development of the Batur Geopark tourist area there are still several obstacles faced in its development. The government's efforts in developing the Batur Geopark tourist area are: the formation of a tourism awareness group, tightening permits for facility construction, establishing a management agency, procuring tourism facilities, improving the road infrastructure, structuring material excavation at the foot of Mount Batur, holding promotions, and providing tourism training. The forms of community participation in the development of the Batur Geopark tourist area are: preserving the biodiversity of flora and fauna, building tourism facilities, developing the typical Kintamani major culinary, cultural preservation, taking jobs in the tourism sector, nature conservation, and the formation of security officers. Keywords: Community Participation, Tourism Development, Geopark

Auditors’ Duty To Detect Related Party Transactions, To Be Professionally Skeptical, and To Detect Fraud: A Case Study of Aegean Marine Petroleum Network, Inc.

This is a case study of Aegean Marine Petroleum Network, Inc. (Aegean). Aegean’s founder and former CEO was the mastermind of several fraud schemes which pilfered $300 million from the company. During 2006-2018, Aegean’s Big 4 auditors, Deloitte and Price Waterhouse, failed to detect the fraud and issued clean, unqualified opinions year after year. After the fraud was discovered by Aegean’s audit committee in 2018, a group of Aegean’s stockholders filed a securities fraud lawsuit in New York City against the former CEO and the two auditors, and it will come to trial in the near future. U.S. Public Company Accounting Oversight Board (PCAOB) standards require an auditor to be professionally skeptical during an audit. He must maintain a questioning mind and make a critical objective assessment of audit evidence. In the Aegean case, the court held if the auditors had been more professionally skeptical, they may have been able to discover the massive fraud. PCAOB standards also require an auditor to search for related party transactions and to disclose them. In the Aegean case, the court noted it is inexcusable that the auditors were not aware that the former CEO owned Oil Tank, Inc., a firm which siphoned off millions of dollars from Aegean during the oil storage facility construction project. If they had been aware of this relationship, they might have been able to uncover the massive fraud. PCAOB standards also require an auditor to search for fraud. In the Aegean case, the former CEO engaged in several fraud schemes, yet the auditors were ignorant of them and issued unqualified audit opinions. This led the court to conclude that the auditors exhibited “willful blindness.”

The Amenity Value of Sports Facilities: Evidence From the Staples Center in Los Angeles

U.S. cities have recently experienced a boom in new sports facility construction. Although these facilities can provide benefits to local residents, they may also generate negative externalities, making dwellings near a facility less desirable. Using a hedonic spatial difference-in-differences model, we analyze the impact of proximity to the Staples Center, a sports and entertainment venue in downtown Los Angeles, California, on house prices. Results indicate that the arena opening increased nearby house prices and that there were also positive “anticipation” effects associated with the announcement of the new arena location and local government approval.

The Deming management method and digital partnering in a construction procurement contract

In this case study of a research and development facility construction project at a large biopharmaceutical organization, we explored how digital investments must be accompanied by a partnership approach and a transformation of the cultural values of an organization tied to operational principles. The project faced considerable challenges, including a highly constrained market environment, time and cost constraints, and a multiyear organization transformation with a diverse mix of stakeholder objectives. Despite these challenges, the project was brought in under budget and on schedule, achieving other objectives that often seem at odds with each other (best-in-class sustainability ratings, quality scores from customers, and with a remarkably low number of change requests). We found that significant stakeholder engagement early in the architect and contractor selection process leads to the right contract management process and ultimately successful outcomes. A key insight from this case involves the need for differentiated supplier relationship management for procurement-project team integration.

Investigation of thermal processes in hydrogen-oxygen steam generators of kilowatt power class

THE PURPOSE. To analyze the current state and prospects for the hydrogen energy development. To consider the possibility of implementing a project aimed at producing hydrogen on the territory of the Republic of Crimea. To choose a suitable location for the facility construction. To provide for the use of renewable sources to supply consumers of the facility with electricity. To study the existing methods of obtaining hydrogen in order to select the suitable one for use on the territory of the Republic of Crimea. To calculate the amount of electricity generated by the selected source and consumed by the elements of the hydrogen production system. To determine the cost of the project and its payback period. METHODS. The method of calculating the amount of electricity generated by the source, as well as the method for determining the cost of project implementation and payback based on data from open sources were used to achieve the set goals. In this work, a simulation of a facility consisting from an electricity source – a solar power plant with an installed capacity of 110 MW, a hydrogen production system – an electrolyser with a capacity of 50 MW, a seawater desalination system – a reverse osmosis unit with a capacity of 600 tons of water per day was performed. Various types of electrolysers were analyzed. RESULTS. The balance of energy generated and consumed by the elements of the hydrogen production system was determined. The capital costs of implementation and the annual operating costs of the project were calculated. CONCLUSHION. The recoupment of such a project, according to preliminary estimates, will be from seven to eight years with a capital investment of about five billion rubles.