The Natural Gas Production Of The United States Essay

This case examines Range Resources, one of the top natural gas production companies in the United Sates. Their core values and corporate culture, have helped pave the way for them to be leaders in their industry. Range Resources has been praised for their economic and social benefits to the company’s surrounding communities. Additionally, safety and concern for the natural environment is one of the company’s top priorities. The company’s president and CEO Jeffrey Ventura is credited with the decision to drill the Marcellus Shale which turned out to be a huge pay off, and put them at the top of their field. Although Range Resources is a leader in the natural gas industry, there are still some who resist natural gas production for both safety and environmental concerns. Range Resources was originally started in 1976 as Lomak Petroleum Incorporated. In 1998 the name of the company changed to Range Resources. In 2004, Range Resources drilled the first successful ver tical well in the Marcellus Shale. By 2007, they had five consecutive successful horizontal wells, and have become one of the most active drillers on Marcellus Shale to date. This horizontal drilling method was a groundbreaking innovation and a win-win for the company. Horizontal drilling means more gas is released with less wells drilled. In 2009, Range Resources once again led the field in innovation by finding a way to recycle 100 percent of the water it used in the drilling process. In 2010, they became theShow MoreRelatedInformation About Oil And Natural Gas Extraction Industry1373 Words   |  6 PagesSeptember 18, 2014 Subject: Information about Oil and Natural Gas Extraction Industry This Report requested by the principal financial investor, Dr. Maria D. Davidson, includes information required to make an informed decision on whether or not to diversify into the Oil and Natural Gas Extraction industry. The Oil and Natural Gas Extraction industry is involved in the processes required to find and extract crude oil and natural gas. The Oil and Natural Gas industry has performed well in recent years despiteRead MoreAmerica s Need For Black Gold1221 Words   |  5 Pagescalled for the increased energy production to avoid this problem in the future. Yet, in this present day, the United States faces a similar, although not as extreme, situation. Measures must be made to make the United States energy independent. The United States must increase its domestic production of oil and natural gas to become less dependent on foreign oil, give American workers good paying jobs, and boost the global and national economy. Body Paragraph 1 United States will be less dependent on foreignRead MoreCoal and Natural Gas Power Plants Essay1310 Words   |  6 PagesCoal and natural gas are the United States’ main fossil fuels used as energy sources. These fossil fuels both contain mixtures of hydrocarbons, which is a chemical compound of carbon and hydrogen (Olah, 2005). Currently, fossil fuels provide eighty-five percent of commercial energy, such as businesses, worldwide and this eighty-five percent does not even account for residential use. Imagine if the residential energy use was accounted for in that eighty-five percent (Davison, 2007). AccordingRead MoreFracking : Its Impact On The United States931 Words   |  4 Pagesdrilling technique known as fracking. Fracking is an unconventional drilling process that is accomplished by using high-pressured water to release oil and natural gas from rock formations, known as shales. The use of fracking in the United States has made it one of the top oil producing coun tries in the world. However, this newfound oil and gas drilling method has not come without its costs. Despite the economic boom near drilling locations, politically, fracking has caused some international relationshipsRead MoreThe Importance of a Secure Energy Supply for the Future826 Words   |  3 Pagesone form or anther. Petroleum, coal and natural gas are the most produced and used energy sources. Mining technologies are required to obtain the raw materials of these energy sources from nature. The energy crisis is due to the limited amount of the natural storages of the energy resources. A higher production rate of the raw materials is desired so that more resources can be extracted to meet the demand. There have been conventional technologies for gas drilling for over 100 years. However theRead MoreU.s. Federal And State Governments1247 Words   |  5 Pagespolitical unrest in the Middle East, the United States and other western countries have made no secret of their strate gic goal of becoming energy independent. Incidentally, recent advances in hydraulic fracturing - a process used to extract oil or gas from underground formations - has contributed significantly to achieving that end. According to Terry Engelder (2011), of the Department of Geosciences at Pennsylvania State University, â€Å"There is enough domestic gas to meet our needs for the foreseeableRead MoreIncreasing Oil Production in the United States of America1306 Words   |  6 PagesIncreasing Oil Production in the United States of America Crude oil is a major source of energy for the world. Everyday the United States consumes more crude oil than it produces. The growing number of barrels of oil imported into the Unites States and rising gas prices are major concerns. Even though increasing the United States crude oil production may not lower gas prices immediately, it will eventually allow the United States to be energy independent. Oil is used in many different waysRead MoreThe United States Energy Industry Essay1431 Words   |  6 PagesNatural gas is playing an increasingly important role in the global economy, rising to the occasion as an alternative to other fossil fuels such as coal because it burns cleaner. As the oil reserves in many parts of the world are being depleted, the availability of a viable alternative such as natural gas is becoming increasingly important. So too is the lure of the future possibility of energy independence for countries both developed and developing. In the last decade, oil and natural gas developmentRead MoreA Energy Source For The State Of Florida1285 Words   |  6 Pagesreport is to inform you of a suitable energy source to meet the projected demands of the state of Florida for the next ten years. I recommend a hybrid plant that uses both solar energy and natural gas. I am certain that a hybrid plant is the most suitable energy source for the State of Florida for the next 10 years. Statistics Florida’s Statistics Florida Public Service Commission reports that as of 2014, natural gas generates 58.89%, or the majority of Florida’s energy (2). Coal is the second most prevalentRead MoreTheu.s. Bush Announced Operation Desert Shield1242 Words   |  5 PagesOn August 2nd, 1990, in a dispute over the Rumaila oil field, on the Iraq/Kuwait border, more than 100,000 Iraqi troops invaded Kuwait. The United Nations condemned the invasion and called for Iraq’s immediate withdrawal. The following day, President George H. W. Bush announced Operation Desert Shield, a 38-nation coalition which later became Operation Desert Storm – the successful military campaign to liberate Kuwait (Britain and the Americas: Culture, politics, and history. The Gulf War (1991)

Adhd and Substance Abuse - 1392 Words

ADHD and Substance Abuse The Evidence Of Substance Abuse With ADHD The purpose of this paper is to identify the link between ADHD and substance abuse. Substance abuse is a true threat to people who are diagnosed with psychological disorders. Among the questions of precursors to substance abuse, lies the hypothesis that individuals diagnosed with Attention Deficit Hyperactivity Disorder (ADHD) may become addicted to drugs or alcohol. Multiple studies have been done to either prove or disprove this hypothesis. This paper will discuss the results of those studies and demonstrate whether this hypothesis stands true†¦show more content†¦Some psychiatrists believe that ADHD alone cannot be compared with substance abuse. It is the belief that a comorbid diagnosis of Conduct Disorder (CD) leads to the evident substance abuse. Several studies have been performed on the relationship between CD/ADHD and substance abuse. Some studies debunk the idea that the two are related, and others prove a direct correlatio n between both disorders. A study done in a large community of adolescent twins found that substance abuse in ADHD was entirely accounted for by a comorbid diagnosis of CD. Another study demonstrated that once the correlation of ADHD and CD was made, the relationship between ADHD and substance abuse alone was almost non-existent. The only downfall of the second study is that it had no group with only CD to test their findings that CD alone contributes to the use of drugs or alcohol. Members of the Department of Psychology of the University of Kentucky conducted a study of symptoms of hyperactivity-impulsivity-inattention (HIA) and conduct problems (CP). The symptoms are that of ADHD and CD, however are renamed to be sure no to misrepresent the study or its findings. The study took a form of surveys through a ten to twelve year span, and eventually led to laboratory studies at the end of the study. Upon completion, the data wasShow MoreRelatedAttention Deficit / Hyperactive Disorder ( Adhd )1166 Words   |  5 Pagesdisorder (ADHD) has become one of the most commonly diagnosed mental health disorders in children and adolescent. â€Å"ADHD is defined as a chronic condition marked by persistent inattention, hyperactivity, and sometimes impulsivity.† (Disney, 1999) There is concern about the possible connection between ADHD to substance use and abuse, during childhood and adolescence, since it is such an important developmental stage in life. â€Å"Substance abuse disorder is defined as a physical dependence, abuse of, andRead MoreAttention Deficit Hyperactivity Disorder ( Adhd )995 Words   |  4 PagesDisorder Lead to Substance Abuse? 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Then again ADHD has a fairly wide range of functions it can affect. While the disorder, for children anyway, can be simplified down to hyperactivity, impulsivityRead MoreAdults With Adhd Essay1026 Words   |  5 Pagesthere is up to 3 million cases of adhd a year in the united states alone. ADHD is a serious mental illness and can cause many problems to your health. Such as compulsive eating, low self-esteem, substance abuse, anxiety, and chronic stress. ADHD can also affect your surroundings as well, you may lose attention in important lectures or mess up on a quiz, and it can make you misunderstand a situation socially and that can cause problems within relationships. ADHD seems to affect not only your mentalRead More Ritalin: Abuse Essay767 Words   |  4 PagesDisorder†(ADHD) is mentioned, the first thing that comes to many people’s minds is a drug called Methylphenidate, commonly referred to as â€Å"Ritalin†. 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Love is the most powerful emotion in this world. As it says in James Burkett s article, when you are in love, you experience loss of time, loss of control of your body and brain, and you gain the motivation to seek out this partner,Read MoreAdderall Abuse in College Students748 Words   |  3 Pageshyperactivity disorder otherwise known as ADHD is a common condition that affects kids and can continue into adulthood. Some of the effects of attention deficit hyperactivity disorder are problems paying attention, unable to follow directions, and easily bored or frustrated with any tasks. These types of behaviors are generally common in children, but they occur more often than usual and are more severe in children with ADHD. The behaviors that are common with ADHD interfere with a childs ability toRead MoreAttention Deficit Disorder Is A Mental Health Problem857 Words   |  4 Pagesthe ways ADHD affects children from the childhood and remains in the child to adulthood. The National I nstitute of Mental Health website used the authority , when treating ADHD , the accuracy of the evidence of children affected by ADHD and the currency of the evidence provided about ADHD on these young children. The NIMH demonstrated their authority in delivering information, accuracy in connecting with their audience and currency in their affairs with victims of ADHD.

Case Study Barings Free Essays

string(169) " in Japan caused a steep drop in the Nikkei 225 equity index , however, Leeson’s unauthorised trading positions suffered huge losses and his operation unravelled\." Summary: One of the most infamous tales of financial demise is that of Barings Bank. Trader Nick Leeson was supposed to be exploiting low-risk arbitrage opportunities that would leverage price low rage differences in similar equity derivatives on the Singapore Money Exchange (Simex) and the Osaka exchange. In fact, he was taking much riskier positions by buying and selling different amounts of the contracts on the two exchanges or buying and selling contracts of different types. We will write a custom essay sample on Case Study Barings or any similar topic only for you Order Now Thanks to the lax attitude of senior management, Leeson was given control over both the trading and back office functions. As Leeson’s losses mounted, he increased his bets. However, after an earthquake in Japan after caused the Nikkei Index to drop sharply, the losses increased rapidly, with Leeson’s positions going more than $1 billion into the red. This was too much for the bank to sustain; in March of 1995, it was purchased by the Dutch b bank ING for just one pound sterling. Overview: Barings Bank had a long history of success and was much respected as the UK’s oldest d merchant bank. But in February of 1995, this highly regarded bank, with $900 million in capital, was bankrupted by $1 billion of unauthorised trading losses. In 1993, Nick Leeson was appointed general manager of the bank’s Barings Futures subsidiary appointed in Singapore. In this capacity, he was able to conceal his unauthorised trading activities for over a year because he managed both the trading and back office functions. The senior managers at a Barings came primarily from a merchant banking background and knew very little about trading. Even in the face of large profits, which should have tipped management off to the fact that substantial risks were being taken, they continued to believe that Leeson held matched Leeson positions on the Singapore International Monetary Exchange (Simex) and the Osaka exchange, and hence was making a low-risk profit. low In fact, Leeson was trading derivatives contracts on the two exchanges that were, in some cases, of different types and, in some cases, in mismatched amounts. For example, Leeson rent executed a trading strategy known as a â€Å"straddle,† with the objective of making a profit by selling put and call options on the same underlying financial instrument, in this case, the Nikkei th 225 Index. A straddle will generally produce positive earnings when markets are stable but can result in large losses if markets are volatile. Leeson created an error account numbered 88888 as a holding area for any premiums or losses that he made. Leeson claims that he initially opened the account to conceal a single loss of e. 0,000 pounds sterling that had resulted from an accounting error until he could make up the difference through trading. However, he continued booking various losses into the account and also continued to increase his volume of trading and level of risk taking. Leeson took unauthorized speculative positions primarily in futures linked to the Nikkei 225 and Japanese government bonds (JGB) as well as options on the Nikkei. He hid his t rading in an unused BSS error account, number 88888. Exactly why Leeson was speculating is unclear. He claims that he originally used the 88888 account to hide some embarrassing losses resulting from mistakes made by his traders. However, Leeson started actively trading in the 88888 account almost as soon as he arrived in Singapore. The sheer volume of his trading suggests a simple desire to speculate. He lost money from the beginning. Increasing his bets only made him lose more money. By the end of 1992, the 88888 account was under water by about GBP 2 million. A year later, this had mushroomed to GBP 23 million. By the end of 1994, Leeson’s 88888 account had lost a total of GBP 208 million. Barings management remained blithely unaware. On February 23, 1995, Nick Leeson hopped on a plane to Kuala Lumpur leaving behind a GBP 827 million hole in the Barings balance sheet. As a trader, Leeson had extremely bad luck. By mid February 1995, he had accumulated an enormous position—half the open interest in the Nikkei future and 85% of the open interest in the JGB future. The market was aware of this and probably traded against him. Prior to 1995, however, he just made consistently bad bets. The fact that he was so unlucky shouldn’t be too much of a surprise. If he hadn’t been so misfortunate, we probably wouldn’t have ever heard of him. Traders sometimes speculate without authorization. Presumably, a few are able to cover their tracks. Others are caught. When they are caught, they are fired, and their employer eats the loss. Usually, neither the trader nor his employer has any interest in publicizing the incident. Leeson made headlines precisely because he was so unlucky. By the time he was discovered, he had bankrupted his employer. Publicity was unavoidable. What is amazing about Leeson’s activities is the fact that he was able to accumulate such staggering losses without Barings’ management noticing. As Leeson lost money, he had to pay those losses to SIMEX in the form of margin. Leeson needed cash. By falsifying accounts and making various misrepresentations, he was able to secure funding from various companies within the Barings organization and from client accounts. His misrepresentations were flimsy at best. For example, he claimed that he needed funds to make margin payments on behalf of BSS clients, and he gave a technical argument related to how the SIMEX collected margin as justification. This claim was false. It was actually against SIMEX rules for a broker to post its own money as margin for a client. Even if the claim were true, the funds would have been needed only temporarily—until the client could make payment. Instead, Leeson continued to ask for ever more funding. Leeson increased the size of his open positions even as his losses increased due to volatility in the markets. When an earthquake in Japan caused a steep drop in the Nikkei 225 equity index , however, Leeson’s unauthorised trading positions suffered huge losses and his operation unravelled. You read "Case Study Barings" in category "Free Case study samples" On March 3, 1995, the Dutch bank ING purchased Barings for 1 pound sterling, providing the final chapter in the story of the 223-year-old bank that had once helped the United States to finance the Louisiana purchase. The beginning of the end occurred on January 16, 1995, when Leeson placed a short straddle (an options trading strategy) in the Singapore and Tokyo stock exchanges, essentially betting that the Japanese stock market would not move significantly overnight. However, the Kobe earthquake hit early in the morning on January 17, sending Asian markets, and Leeson’s investments, into a tailspin. Leeson attempted to recoup his losses by making a series of increasingly risky new investments, this time betting that the Nikkei Stock Average would make a rapid recovery. But the recovery failed to materialize, and he succeeded only in digging a deeper hole. Realizing the gravity of the situation, Leeson left a note reading â€Å"I’m Sorry† and fled. Losses eventually reached ?827 million ($1. 4 billion at then-prevailing exchange rates), then prevailing twice the bank’s available trading capital. This led to the bank’s collapse. After fleeing to Malaysia, Brunei and finally Germany, Leeson was arrested and extradited back to Singapore on March 2, 1995. While he had authorization for the January 16 short straddle, he was charged with raud for deceiving his superiors about the riskiness of his activities and the scale of his losses, although some observers (and Leeson himself) have place much of the placed blame on the bank’s own deficient internal auditing and risk management practices. Sentenced to six and a half years in jail in Singapore, he was released from prison in 1999, having been diagnosed with colon cancer , which he has survived despite grim forecasts at the time. While in despite prison, in 1996, Leeson published an autobiography, Rogue Trader, detailing his acts. There may be a temptation to view this debacle as being caused by just one individual – the â€Å"rogue trader† – but in reality the fiasco should be attributed to the underlying structure of the firm, and particularly to the lack of internal checks and balances. Events: 1993: Nick Leeson becomes general manager of Barings Futures (Singapore), running the bank’s Simex (Singapore International Monetary Exchange) activities. January 1994: By this date (at the latest), Leeson started selling put and call options on the Nikkei 225 equity index, placing the premiums earned into an error account number 88888. This strategy, known as a straddle, is essentially a bet on the stability of market prices. 24 February 1994: A memorandum from the Barings’ asset and liability committee values the 4 options portfolio at 2. 8 billion yen. July 1994 – August 1994: James Baker, an internal auditor, spends two weeks in Singapore investigating the immense profits being made there. Baker identifies the weakness of internal controls and recommends that the general manager should no longer be responsible for the back office. In response, a separate financial manager in Hong Kong is given part part-time responsibility for watching over the back office. ng August 1994: In an attempt to better evaluate its overall risk, Barings sets up an integrated Group Treasury and Risk function, reporting to a new asset and liability committee (Alco). December 1994: A later Barings investigation reveals that, for unknown reasons, Leeson has run up an accrued loss amounting to Y7. 7 billion on the account by the end of 1994. 23 January 1995: The Nikkei 225 drops by 1000 points after an earthquake hits Japan’s industrial heartland. 6 January 1995: The London futures team gives Barings’ Alco Committee a presentation on the Baring Futures (Singapore) operation, which states that Leeson is operating a perfectly perfectl matched book – long in Osaka, but short to the same amount on Simex. 8 February 1995: Coopers Lybrand decides to hold off signing off on Barings’ accounts until it becomes possibl e to clear up a few points with Leeson. 23 February 1995: At close of trading, the error account contains 55,399 Nikkei contracts trading, expiring in March and 5640 expiring in June. As of February 25, this totalled a loss of 59 billion yen on Simex. 24 February 1995: The Barings Board meets to discuss a hastily prepared analysis of the hastily-prepared transactions in Account 88888. March 1995: The Dutch Bank ING agrees to purchase Barings for 1 pound and assume all of its liabilities (Bull, 1995). Lessons to be Learned: Lack of internal checks and balances Even when segregation of duties was suggested by internal audit, the concentration of power in the Leeson’s hands was scarcely diluted. Lack of understanding of the business. If Barings’ auditors and top management had understood the trading business, they would have realised that it was not possible for Leeson to be making the profits that he was reporting without taking on undue risk, and they might have questioned where the money was coming from. Arbitrage is supposed to be a low risk, and hence low profit, business, so Leeson’s large m. profits should have inspired alarm rather than praise. Given that arbitrage should be cash cashneutral or cash-rich, additional alarms should have gone off as the Bank wired hundreds of rich, millions of dollars to Singapore. Poor supervision of employees Although Leeson had never held a trading license prior to his arrival in Singapore, there was little oversight of his activities and no individual was directly responsible for monitoring his trading strategies. Lack of a clear reporting line Leeson’s fraud may have been facilitated by the confusion caused by two reporting lines: one to London, for proprietary trading, and another to Tokyo for trading on behalf of customers. customer Allikas: http://www. erisk. com/Learning/CaseStudies/ref_case_barings. asp Kusimused: 1. Millist kauplemisstrateegiat Nick Leeson oma ulemustele teadaolevalt kasutas? Kuidas selle strateegiaga teoreetiliselt raha on voimalik teenida? 2. Millist kauplemisstrateegiat Nick Leeson tegelikult kasutas? Kuidas selle strateegiaga teoreetiliselt raha on voimalik teenida? 3. Mis on back-office funktsioonid? 4. Mis sundmus sai Barings pangale saatuslikuks? Mis selle tulemusel juhtus Leesoni positsioonidega? 5. Mis olid pohjused (mida tehti valesti), et kaesolev Baringsi case sai uldse juhtuda (5 pohjust)? 6. Milliseid eetilisi noudeid Nick Leeson oma tegutsemisega rikkus ning kuidas oleks tulnud korrektselt kaituda? How to cite Case Study Barings, Free Case study samples

The most difficult decision I have made and its personal effect free essay sample

In 2011, I joined Company ABC as a business development manager. A mining company, this experience gave me the opportunity to expand my knowledge and experiences beyond the realm of marketing. I enjoyed my work there greatly and learned a lot about both the mining and energy industries. In 2012, Company ABC transferred me to a sister company that was solely focused on coal mining. I accepted the transfer happily as I believed it would continue to offer opportunities to grow within the industry. Additionally, the vast amount of resources and compensation from the company allowed me to engage in higher-level business with larger corporations. My primary responsibility at this time was to secure strategic partnerships and financial resources as a means of expanding our research and development programs and expanding our coal mining operations. I was also tasked with researching alternative renewable energy sources to more wholly develop the company’s projects. We will write a custom essay sample on The most difficult decision I have made and its personal effect or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I enjoyed a great deal of success at this time and, more importantly, able to save a great deal of money in preparation for my MBA. Despite the growth the company saw at this time and my own personal gains, I was faced with a very difficult decision. Often my superiors would encourage me to engage in unethical business practices to secure partnerships and contracts that were more lucrative. This included bribery, unethical consideration, or the giving of gifts to persuade clients and associates. While the prospect of personal financial gain was very tempting to me, I knew that if I followed my superiors’ directives I could never be truly proud of my work. Against the advice of co-workers and family alike, I chose not to follow a path that would make me ashamed or guilty about my work. I decided to leave the company shortly after this problem arose choosing instead to follow a path I could be proud of. Shortly after leaving, I joined Company XYZ. While the opportunity for growth within the company and the amount of compensation is much less, I know that the quality and proper nature of the work is much more fulfilling in the end. While I reflect on my time with Company ABC and their sister company, I have fond memories and will be grateful for the opportunity and amount of learning I enjoyed in such a short period. However, that experience also taught me there is no amount of money that can cover up a lack of pride in your work.