diff --git a/Bitcoin/Bitcoin_and_Oil.tex b/Bitcoin/Bitcoin_and_Oil.tex index b2b5588..bf472b6 100644 --- a/Bitcoin/Bitcoin_and_Oil.tex +++ b/Bitcoin/Bitcoin_and_Oil.tex @@ -4,6 +4,9 @@ \documentclass[aspectratio=169,xcolor=dvipsnames]{beamer} \usetheme{SimpleDarkBlue} \usepackage{hyperref} \usepackage{graphicx} % Allows including images \usepackage{framed} +\usepackage{tikz} +\usepackage{inputenc} +\usetikzlibrary{shapes, shapes.geometric, arrows, positioning} \usepackage{adjustbox} \usepackage{bm} \usepackage{amssymb} @@ -38,22 +41,27 @@ %------------------------------------------------ \section{Introduction \& Overview} \input{./Sections/Intro.tex} +\input{./Sections/About_me.tex} +\section{Background} \input{./Sections/Background.tex} \input{./Sections/Key_Questions.tex} +\input{./Sections/Diagram.tex} +\input{./Sections/Mechanism.tex} +\section{Bitcoin Mining} \input{./Sections/Bitcoin_Incentives.tex} \input{./Sections/Mining_Structure.tex} \input{./Sections/Mining_Model.tex} \input{./Sections/Mining_elast.tex} \input{./Sections/Reg_elas.tex} +\section{Oil Market} \input{./Sections/Oil_Structure.tex} \input{./Sections/Oil_Econometrics.tex} \input{./Sections/Data.tex} +\section{Results} \input{./Sections/Maps.tex} \input{./Sections/Subsidy_Chart.tex} \input{./Sections/Results.tex} +\section{Conclusion} \input{./Sections/Conclusion.tex} -\section{Theory} -\section{Econometric Strategy} -\section{Data} \end{document} diff --git a/Bitcoin/Sections/About_me.tex b/Bitcoin/Sections/About_me.tex new file mode 100644 index 0000000..091a807 --- /dev/null +++ b/Bitcoin/Sections/About_me.tex @@ -0,0 +1,47 @@ +\begin{frame}{About Me} + \begin{columns}[c] % The "c" option specifies centered vertical alignment while the "t" option is used for top vertical alignment + + \column{.45\textwidth} % Left column and width + \textbf{Experience} + \begin{itemize} + \item PhD candidate in Mineral and Energy Economics at CSM + \item Petroleum Engineering B.S + \item Worked as a Data analysit for oil companies + \end{itemize} + \textbf{Personal} + \begin{itemize} + \item{Coding and Linux} + \item{Fly fishing} + \item{Foraging} + \end{itemize} + + \column{.5\textwidth} % Right column and width + \includegraphics[width=\columnwidth,height=\textheight,keepaspectratio]{./img/fish.jpg} + +Cutbow caught at Rocky Mountain National park + + + \end{columns} + \end{frame} +\begin{frame}{Other research} + \begin{columns}[c] % The "c" option specifies centered vertical alignment while the "t" option is used for top vertical alignment + + \column{.45\textwidth} % Left column and width + \textbf{Previous Topics of Research} + \begin{itemize} + \item{Ground water with USDA grant} + \item{Critical materials} + \item{Wind energy (economics and engineering)} + \item{CGE and electricty grids} + \item{Instituional economics in resource Management} + \end{itemize} + + \column{.5\textwidth} % Right column and width + \includegraphics[width=\columnwidth,height=\textheight,keepaspectratio]{./img/SLV_Map.png} + + + + \end{columns} + +\end{frame} + diff --git a/Bitcoin/Sections/Conclusion.tex b/Bitcoin/Sections/Conclusion.tex index b3e427f..2fccb32 100644 --- a/Bitcoin/Sections/Conclusion.tex +++ b/Bitcoin/Sections/Conclusion.tex @@ -1,5 +1,11 @@ %------------------------------------------------ \begin{frame}{Conclusion} -Stand in + The market for Bitcoin can create a new co-product in oil production, acting like a subsidy. The revenue increase is senteive to the price of bitcoin but is likley to persist even if the price of bitcoin becomes drops. + \newline + + There is spatial variation in the size of the subsidy to oil production. The effect is predicted to shift the location of wells genreally north, to lower population and higher GOR states. +\newline + +Prelminary results show that state like Wyoming could see an increase in oil production of \(\approx 1.4\%\) due to the subisdy effect, while the US has a lower average effect \end{frame} diff --git a/Bitcoin/Sections/Diagram.tex b/Bitcoin/Sections/Diagram.tex new file mode 100644 index 0000000..5b981e4 --- /dev/null +++ b/Bitcoin/Sections/Diagram.tex @@ -0,0 +1,36 @@ +\begin{frame}{Market Linkage} + \tikzstyle{market} = [rectangle, rounded corners, text centered,draw=black,fill=orange!30,minimum width=3cm,minimum height=1cm] +\tikzstyle{inputmarket} = [rectangle, rounded corners, text centered,draw=black,fill=green!30,minimum width=3cm,minimum height=1cm] +\tikzstyle{output} = [rectangle, rounded corners, text centered,draw=black,fill=blue!30,minimum width=3cm,minimum height=1cm] +\tikzstyle{both} = [rectangle, text centered,draw=blue,fill=red!30,minimum width=3cm,minimum height=1cm] + \tikzstyle{input} = [rectangle, text centered,draw=black,fill=blue!30] + \tikzstyle{arrow} = [thick,dash dot, ->,>=stealth] + \tikzstyle{arrowsolid} = [thick, ->,>=stealth] + + + \begin{tikzpicture}[node distance=2cm] + \node (Bitcoin)[market] {Bitcoin Mining}; + \node (Oil)[market,left of=Bitcoin,xshift=10cm] {Drilling Wells}; + \node (BTCP)[inputmarket,above of=Bitcoin] {Bitcoin Price}; + \node (OILP)[inputmarket,above of=Oil,xshift=4cm] {Oil Price}; + \node (GASP)[inputmarket,above of=Oil,xshift=.5cm] {Gas Price}; + \node (BGASP)[inputmarket, left of=GASP,xshift=-2cm] {Bitcoin Price for Gas}; + \node (Gas)[output,below of=Oil,xshift=-3.5cm] {Gas}; + \node (Oil_out)[output,below of=Oil] {Oil}; + \node (BTCOUT)[output,below of=Bitcoin] {Mining Hash}; + \node (Elect)[both,below of=Gas] {Electricity Price}; + \draw [arrow] (BGASP) -- (Oil); + \draw [arrow] (BTCP) -- (Bitcoin); + \draw [arrow] (OILP) -- (Oil); + \draw [arrow] (GASP) -- (Oil); + \draw [arrow] (Gas) -- (Elect); + \draw [arrow] (Elect) -- (Bitcoin); + \draw [arrow] (Bitcoin) -- (BGASP); + \draw [arrowsolid] (Bitcoin) -- (BTCOUT); + \draw [arrowsolid] (Oil) -- (Oil_out); + \draw [arrowsolid] (Oil) -- (Gas); + +\end{tikzpicture} + +\end{frame} + diff --git a/Bitcoin/Sections/Mechanism.tex b/Bitcoin/Sections/Mechanism.tex new file mode 100644 index 0000000..885e35a --- /dev/null +++ b/Bitcoin/Sections/Mechanism.tex @@ -0,0 +1,32 @@ +\begin{frame}{Mechanisms} +Bitcoin miners that pay for flared gas subsidize oil produciton +\newline +\newline +\textbf{Direct Effects} +\begin{enumerate} +\item{More drilling} +\item{Diffrent location of wells} +\item{Bitcoin Miners clean the gas} +\end{enumerate} +\end{frame} +\begin{frame}{Outcomes} + \begin{columns}[c] % The "c" option specifies centered vertical alignment while the "t" option is used for top vertical alignment + \column{.5\textwidth} % Left column and width + \textbf{Certain Outcomes} + \begin{itemize} + \item{Increase number of wells} + \item{Increase in profits} + \item{Decrease price of oil} + \item{Non-decreasing price of gas} + \end{itemize} + + \column{.5\textwidth} % Left column and width +\textbf{Uncertain Outcomes} +\begin{itemize} +\item{More pollution: More wells drilled} +\item{Less pollution: Gas is cleaned} +\item{Localized beneftis: New location of wells} +\item{Localized costs: New location of wells} +\end{itemize} +\end{columns} +\end{frame} diff --git a/Bitcoin/Sections/Oil_Econometrics.tex b/Bitcoin/Sections/Oil_Econometrics.tex index b8ff20d..b50947e 100644 --- a/Bitcoin/Sections/Oil_Econometrics.tex +++ b/Bitcoin/Sections/Oil_Econometrics.tex @@ -9,7 +9,7 @@ \end{frame} \begin{frame}{Oil and Gas Production: Econometric Model } - \begin{block}{Long Run Effect on Oil Produced} + \begin{block}{Estimated model} \begin{equation} Q_{O,b,t}=\beta_{1} Q_{O,b,t-1}+\beta_{2} P_{WTI,t-1}+\beta_{3} P_{HH,t-1}+\beta_{4}\theta_{t}+\gamma_{t,b}+\epsilon_{b,t} \end{equation} diff --git a/Bitcoin/Sections/Results.tex b/Bitcoin/Sections/Results.tex index e865fda..b1955b9 100644 --- a/Bitcoin/Sections/Results.tex +++ b/Bitcoin/Sections/Results.tex @@ -27,18 +27,18 @@ \end{columns} \end{frame} \begin{frame}{Intial Estimates} - Nation wide the average subsidy equavalient is estiamted to be 0.98\% - \newline - \textbf{United State} + + \textbf{United States} \begin{itemize} + \item{Subsidy of 0.98\% to WTI } \item{\(\Delta Q_{US}\approx 0.18\%\)} \end{itemize} - Wyoming subsidy equvalent is estiamted to be 2.13\%. Elasticty estimates in Wyoming range from 0.61 to 0.73 . - \newline \textbf{Wyoming} \begin{itemize} - \item{\(\Delta Q_{Wy}\approx 1.43\%\)} + \item{Subsidy of 2.13\% to WTI } + \item{\(\Delta Q_{Wy}\approx 1.43\% \)\footnote{Elasticty of 0.67 (Mason et all,2017)}} \end{itemize} + \end{frame} diff --git a/Bitcoin/img/CHANGE_Disc.png b/Bitcoin/img/CHANGE_Disc.png new file mode 100755 index 0000000..b4185c5 Binary files /dev/null and b/Bitcoin/img/CHANGE_Disc.png differ diff --git a/Bitcoin/img/SLV_Map.png b/Bitcoin/img/SLV_Map.png new file mode 100644 index 0000000..5c55e9f Binary files /dev/null and b/Bitcoin/img/SLV_Map.png differ diff --git a/Bitcoin/img/fish.jpg b/Bitcoin/img/fish.jpg new file mode 100644 index 0000000..244588b Binary files /dev/null and b/Bitcoin/img/fish.jpg differ