Added sections

Bitcoin/Bitcoin_and_Oil.tex

@@ -4,6 +4,7 @@
 \documentclass[aspectratio=169,xcolor=dvipsnames]{beamer} \usetheme{SimpleDarkBlue} \usepackage{hyperref}
 \usepackage{graphicx} % Allows including images
 \usepackage{framed}
+\usepackage{bm}
 \usepackage{amssymb}
 \usepackage{booktabs} % Allows the use of \toprule, \midrule and \bottomrule in tables
 \usepackage{textpos}
@@ -35,7 +36,6 @@
 %------------------------------------------------
 \section{Introduction \& Overview}
 \input{./Sections/Intro.tex}
-\input{./Sections/Background.tex}
 \input{./Sections/Key_Questions.tex}
 \input{./Sections/Bitcoin_Incentives.tex}
 \input{./Sections/Mining_Structure.tex}
@@ -43,6 +43,9 @@
 \input{./Sections/Mining_elast.tex}
 \input{./Sections/Reg_elas.tex}
 \input{./Sections/Wyoming_Hookup.tex}
+\input{./Sections/Oil_Structure.tex}
+\input{./Sections/Oil_Econometrics.tex}
+
 \section{Theory}
 \section{History}
 %\subsection{Key Events}

Bitcoin/Sections/Background.tex

@@ -37,7 +37,7 @@
 \end{frame}
 %------------------------------------------------
 
-\begin{frame}{Relvance to Wyoming}
+\begin{frame}{Relevance to Wyoming}
     \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
@@ -46,8 +46,9 @@
             \item Increasing flaring rates
             \item Regulatory concerns about emissions 
             \item Most Bitcoin miner friendlily regulations in the US 
-	    \item Period of low temperature 
+	    \item Cyclical low temperatures
-	    \item Major basins have diffrent GOR
+	    \item On grid prices 
+	    \item Major basins with diffrent GOR
         \end{itemize}
 
         \column{.5\textwidth} % Right column and width

Bitcoin/Sections/Oil_Econometrics.tex

@@ -0,0 +1,28 @@
+\begin{frame}{Oil and Gas Production: Assumption's }
+	\textbf{Assumptions}
+	\begin{enumerate}
+		\item{Engineer probabilistically knows the production path of each well }
+		\item{Marginal production choice is to drill a new well in a particular location}
+		\item{Future production is modeled by a best fit Arps model}
+		\item{Constant discount rate of 4.5\%}
+	\end{enumerate}
+\end{frame}
+
+\begin{frame}{Oil and Gas Production: Econometric Model }
+	\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}
+\end{block}
+Where \(Q_{O,b,t}\) the net present oil produced in a basin state pair b, at time t, \(P_{WTI}\) is the West Texas International futures price, \(P_{HH}\) is the futures price of the Henery Hub spot market,\(\theta_{t}\) is a month dummy ,and \(\gamma_{b,t}\) is a variable that represents the amount of monitray damage from natural disasters. 
+
+2SLS is used, with insturments of 
+	\begin{enumerate}
+		\item{VAR model residuals of oil refinery volumes, and gas storage}
+		\item{Regional population weighted cooling and heating degree days}
+		\item{Sum of the standard of each instrument over the last 12 months}
+	\end{enumerate}
+
+
+
+\end{frame}

Bitcoin/Sections/Oil_Structure.tex

@@ -0,0 +1,16 @@
+\begin{frame}{Oil and Gas Production }
+	\begin{block}{Well Profitablity Before Bitcoin Mining}
+		\begin{equation}
+			\pi_{w}=\int_{t=0}^{\infty}\left[e^{-rt}\left(P_{o,t}\cdot q_{o,t}+\theta_{GL}\cdot P_{g,t}\cdot q_{g,t}-C(t)\right)\right]dt
+	\end{equation}
+\end{block}
+Where \(P{t} \) is price of the oil (o) or gas (g) at time t,  \(q_{t}\) is the volume of the product produced, C(t) is the cost function, and \(\theta_{GL}\) is a dummy that is one if a gas hookup line attached to the well.
+	\begin{block}{Well Profitablity Post Bitcoin Mining}
+		\begin{equation}
+			\pi_{w}=\int_{t=0}^{\infty}\left[e^{-rt}\left(P_{o,t}\cdot q_{o,t}+(\theta_{GL}\cdot P_{g,t}+\bm{\right|\theta_{GL}-1\left|\cdot P_{g,btc}})\cdot q_{g,t}-C(t)\right)\right]dt
+	\end{equation}
+\end{block}
+
+Allowing a Bitcoin miner to purchase gas is equivalent to subsidy to oil production. 
+The size of the subisdy depends on the path of the GOR, the discount rate, decline rate of the well , and the max willingness to pay for gas of Bitcoin miners.
+\end{frame}