Final before presenting
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\begin{frame}{Background}
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\begin{frame}{Background}
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\textbf{The Conservation Reserve Enhancement Program aimed at increase fallowing the Rio Grande region by 40,000 Acres.}
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\textbf{The Conservation Reserve Enhancement Program aimed at Increasing fallowing the Rio Grande region by 40,000 Acres.}
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\begin{itemize}
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\begin{itemize}
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\item{Program formed in late 2013}
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\item{Program formed in late 2013}
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\item{Eligibility based on water use from 2006-2013}
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\item{Eligibility based on water use from 2006-2013}
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\item{One time enrollment payment to retire of \$200 per acre}
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\item{One time enrollment payment to retire land of \$200 per acre}
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\item{\$22 acre per year of 15 year lease}
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\item{\$22 acre per year of 15 year lease}
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\item{\$66 per acre per year}
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\item{\$66 per acre per year}
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\end{itemize}
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\end{itemize}
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\begin{frame}{Econometric Strategy}
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\begin{frame}{Econometric Strategy}
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\textbf{Dirrect Counterfactual}
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\textbf{Direct Counterfactual}
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\begin{equation*}
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\begin{equation*}
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W_{i,t}=CREP_{i,t}\cdot X_{t}+\alpha_{i}+\beta_{t}\cdot X_{t}+\epsilon_{i,t}
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W_{i,t}=CREP_{i,t}\cdot X_{t}+\alpha_{i}+\beta_{t}\cdot X_{t}+\epsilon_{t}
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\end{equation*}
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\end{equation*}
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Where \(W_{i,t}\) is the water intensify in a given year (t) by parcel \(i\). \(\alpha_{i}\) is the parcel fixed effect. \(\beta_{t}\) captures time variant variables like run off volumes, growing season heating degree days, and prices.
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Where \(W_{i,t}\) is the water intensity in a given year (t) by parcel \(i\). \(\alpha_{i}\) is the parcel fixed effect. \(\beta_{t}\) captures time variant variables like run off volumes, growing season heating degree days, and prices.
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\newline
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\newline
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\newline
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\newline
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\textbf{Who enters the program}
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\textbf{Who enters the program}
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6
Defense_proposal/CREP_Sections/Start.tex
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6
Defense_proposal/CREP_Sections/Start.tex
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\begin{frame}[plain]{Chapter 3}
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\huge
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\begin{center}
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Efficiency of Fallowing Incentive Programs
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\end{center}
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\end{frame}
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%----------------------------------------------------------------------------------------
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%----------------------------------------------------------------------------------------
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% TITLE PAGE
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% TITLE PAGE
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%----------------------------------------------------------------------------------------
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%----------------------------------------------------------------------------------------
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%\title[Bitcoin Mining, a Coproduct of Oil Production]{Bitcoin Mining, a Coproduct of Oil Production} % The short title appears at the bottom of every slide, the full title is only on the title page
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\title[Thesis Defense Proposal]{Thesis Defense Proposal} % The short title appears at the bottom of every slide, the full title is only on the title page
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\title[Will Bitcoin Mining Create the Next Shale Boom?]{Will Bitcoin Mining Create the Next Shale Boom?} % The short title appears at the bottom of every slide, the full title is only on the title page
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\subtitle{An Estimation of Long Run Regional Welfare Effects}
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\author[Alex Gebben] {Alexander Gebben}
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\author[Alex Gebben] {Alexander Gebben}
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\vskip 3pt
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\vskip 3pt
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}
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}
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\date{November 3, 2022}
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\date{December 6, 2022}
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% \date{\today} % Date, can be changed to a custom date
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% \date{\today} % Date, can be changed to a custom date
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\begin{document}
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\begin{document}
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%------------------------------------------------
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%------------------------------------------------
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\input{./Sections/Intro.tex}
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\input{./Sections/Outline.tex}
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\section{Hedonic}
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\section{Hedonic}
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\input{RG_Sections/Start.tex}
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\subsection{Introduction}
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\subsection{Introduction}
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\input{./RG_Sections/Question.tex}
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\input{./RG_Sections/Question.tex}
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\input{./RG_Sections/Backgound.tex}
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\input{./RG_Sections/Backgound.tex}
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\input{./RG_Sections/Economic_Intrest.tex}
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\input{./RG_Sections/Timeline.tex}
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\input{./RG_Sections/Timeline.tex}
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\input{./RG_Sections/Legal_Concern.tex}
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\input{./RG_Sections/Legal_Concern.tex}
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\input{./RG_Sections/Reg_Disc.tex}
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\input{./RG_Sections/Reg_Disc.tex}
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\input{RG_Sections/Equations.tex}
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\input{RG_Sections/Equations.tex}
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\subsection{Results}
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\subsection{Results}
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\input{./RG_Sections/Results.tex}
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\input{./RG_Sections/Results.tex}
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\input{./RG_Sections/Conclusion.tex}
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%----------------------------------
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%----------------------------------
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\section{CREP payments}
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\section{CREP payments}
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\input{./CREP_Sections/Start.tex}
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\input{./CREP_Sections/Question.tex}
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\input{./CREP_Sections/Question.tex}
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\input{./CREP_Sections/Background.tex}
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\input{./CREP_Sections/Background.tex}
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\input{./CREP_Sections/Data.tex}
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\input{./CREP_Sections/Data.tex}
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\input{./CREP_Sections/Econometric.tex}
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\input{./CREP_Sections/Econometric.tex}
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%--------------------------
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\section{Bitcoin}
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\input{./Sections/Start.tex}
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%-------------------------- \section{Bitcoin}
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\subsection{Introduction \& Overview}
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\subsection{Introduction \& Overview}
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\input{./Sections/Intro.tex}
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\input{./Sections/Key_Questions.tex}
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\input{./Sections/Key_Questions.tex}
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\subsection{Background}
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\subsection{Background}
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\input{./Sections/Background.tex}
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\input{./Sections/Background.tex}
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\begin{frame}{Background}
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\begin{frame}{Background}
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\textbf{San Luis Valley}
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\textbf{San Luis Valley}
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\begin{enumerate}
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\begin{itemize}
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\item{Agricultural economy in Southern Colorado}
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\item{Agricultural economy in Southern Colorado}
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\item{Use of surface water from Rio Grande river}
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\item{Use of surface water from Rio Grande river}
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\item{Part of Rio Grande Conservation Water District}
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\item{Part of Rio Grande Conservation Water District}
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\item{Rio Grande, Saguache, Alamosa}
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\item{Rio Grande, Saguache, Alamosa counties}
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\end{enumerate}
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\item{Drought and legal threat in 2002}
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\item{Subdistrict 1 formed in 2006}
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\end{itemize}
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\textbf{Legal}
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\textbf{Legal}
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\begin{enumerate}
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\begin{itemize}
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\item{Prior Appropriation}
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\item{Prior Appropriation}
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\item{Complex ground water law}
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\item{Complex ground water law}
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\item{Conversation districts}
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\item{Conservation districts}
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\item{Subdistricts}
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\item{Subdistricts}
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\end{enumerate}
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\end{itemize}
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\end{frame}
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\end{frame}
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10
Defense_proposal/RG_Sections/Conclusion.tex
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Defense_proposal/RG_Sections/Conclusion.tex
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%------------------------------------------------
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\begin{frame}{Conclusion}
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\textbf{Evidence of ground water institutional change affecting profits:}
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\begin{itemize}
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\item{Collective action spurred by legal threats in 2002}
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\item{Self governance changed expectations of profits in 2006}
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\item{Policy under performed in practice}
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\end{itemize}
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\end{frame}
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\begin{frame}{Data Needed}
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\begin{frame}{Data Needed}
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\textbf{Three counties with treated parcels, one with only controls.}
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\textbf{Three counties with treated parcels}
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\begin{enumerate}
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\begin{enumerate}
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\item{legal parcel locations}
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\item{Legal parcel locations}
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\item{Records of sales}
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\item{Records of sales}
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\item{Crop use history}
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\item{Crop use history}
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\item{Water access}
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\item{Water access}
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Defense_proposal/RG_Sections/Economic_Intrest.tex
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Defense_proposal/RG_Sections/Economic_Intrest.tex
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\begin{frame}{Economic Considerations}
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\begin{center}
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\begin{enumerate}
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\item{Self-governance}
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\item{Institutional economics}
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\item{Market restrictions}
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\item{Externalities}
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\end{enumerate}
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\end{center}
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\end{frame}
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\begin{frame}{Econometic Model}
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\begin{frame}{Econometric Model}
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\begin{equation}\label{SimpleRegModel}
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\begin{equation}\label{SimpleRegModel}
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Price_{i,t}=\theta_{s(t)}\cdot Sbd1_{i}+\tau_{t}+\beta_{i,t}\cdot X_{i,t}+\epsilon_{i,t}
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Price_{i,t}=\theta_{s(t)}\cdot Sbd1_{i}+\tau_{t}+\beta_{i,t}\cdot X_{i,t}+\epsilon_{i,t}
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\end{equation}
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\end{equation}
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Where \(Price_{i,t}\) is the sale price of parcels \( i \in I \) across time periods \( t \in T \). \(Sbd1_{i}\) is a dummy varriable indicating that a parcel is in Subdistrict 1. \(\theta_{s(t)}\) are the policy fixed effects of interest. \(\tau_t\) is a time period fixed effect, and \(X_{i,t}\) controls an array of variables that influence the market price of farms.
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Where \(Price_{i,t}\) is the sale price of parcels \( i \in I \) across time periods \( t \in T \). \(Sbd1_{i}\) is a dummy variable indicating that a parcel is in Subdistrict 1. \(\theta_{s(t)}\) are the policy fixed effects of interest. \(\tau_t\) is a time period fixed effect, and \(X_{i,t}\) controls an array of variables that influence the market price of farms.
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\begin{equation}\label{SimpleFixedModel}
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\begin{equation}\label{SimpleFixedModel}
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Price_{i,t}=\theta_{s(t)}\cdot Sbd1_{i}+\tau_{t}+\alpha_{i}+\beta_{i,t}\cdot X_{i,t}+\epsilon_{i,t}
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Price_{i,t}=\theta_{s(t)}\cdot Sbd1_{i}+\tau_{t}+\alpha_{i}+\beta_{i,t}\cdot X_{i,t}+\epsilon_{i,t}
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\begin{frame}{Overview}
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\begin{frame}{Key Questions}
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% Throughout your presentation, if you choose to use \section{} and \subsection{} commands, these will automatically be printed on this slide as an overview of your presentation
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% Throughout your presentation, if you choose to use \section{} and \subsection{} commands, these will automatically be printed on this slide as an overview of your presentation
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\bf{What are the welfare changes faced by farmers, under institutional change that modify the value of groundwater access?
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\bf{What are the welfare changes faced by farmers, under groundwater institutional change?
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}
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}
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\end{frame}
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\end{frame}
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6
Defense_proposal/RG_Sections/Start.tex
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6
Defense_proposal/RG_Sections/Start.tex
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\begin{frame}[plain]{Chapter 1}
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\huge
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\begin{center}
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Hedonic Analysis of Groundwater Institutional Changes in South Platte, CO
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\end{center}
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\end{frame}
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%------------------------------------------------
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%------------------------------------------------
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\begin{frame}{Conclusion}
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\begin{frame}{Conclusion}
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Bitcoin miners are starting to use flared natural gas as an affordable source of electricity. This will have long run impact on the oil market.
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Bitcoin miners are starting to use flared natural gas as an affordable source of electricity. This will have a long run impact on the oil market.
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\begin{itemize}
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\begin{itemize}
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% \item{Bitcoin mining can become a coproduct to oil production}
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% \item{Bitcoin mining can become a coproduct to oil production}
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\item{The price of Bitcoin affects the price paid for the natural gas}
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\item{The price of Bitcoin effects the price paid for the natural gas}
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\item{A subsidy effect will persist even when Bitcoin prices are low}
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\item{A subsidy effect will persist even when Bitcoin prices are low}
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\item{The profitability depends on geology}
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\item{The profitability depends on geology}
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\item{Bitcoin mining will disproportionately affect states like Wyoming and North Dakota}
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\item{Bitcoin mining will disproportionately affect states like Wyoming and North Dakota}
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\item{How much will the price oil decline? (Consumer welfare)}
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\item{How much will the price oil decline? (Consumer welfare)}
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\item{How much extra revenue will oil producers receive? (Producer welfare)}
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\item{How much extra revenue will oil producers receive? (Producer welfare)}
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\item{How will the location of of drilling change? (Regional heterogeneous effects)}
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\item{How will the location of of drilling change? (Regional heterogeneous effects)}
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\item{Are bitcoin miners senstive to bitcoin price when paying for gas? (Robustness)}
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\item{Are bitcoin miners sensitive to bitcoin price when paying for gas? (Robustness)}
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\end{enumerate}
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\end{enumerate}
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\end{frame}
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\end{frame}
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7
Defense_proposal/Sections/Outline.tex
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Defense_proposal/Sections/Outline.tex
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\begin{frame}{Outline}
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\begin{itemize}
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\item{Chapter 1: Hedonic Analysis of Groundwater Institutional Changes in South Platte, CO}
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\item{Chapter 3: Efficiency of Fallowing Incentive Programs }
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\item{Chapter 2: Bitcoin Mining as a Co-Product to Oil Production}
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\end{itemize}
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\end{frame}
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%------------------------------------------------
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%------------------------------------------------
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\begin{frame}{Results}
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%\begin{frame}{Results}
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Add Impulse Response graph
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% Add Impulse Response graph
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\end{frame}
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%\end{frame}
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\begin{frame}{United Stated Results}
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\begin{frame}{United Stated Results}
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\begin{itemize}
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\begin{itemize}
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\item{Price elasticty of oil supply 55.33\%}
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\item{Price elasticity of oil supply 55.33\%}
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\item{Quanity of oil produced increases by 2.11\%}
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\item{Quantity of oil produced increases by 2.11\%}
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\item{Producer revenues increas by 1.4\% }
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\item{Producer revenues increas by 1.4\% }
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\item{Global price of oil declines by 0.5\%}
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\item{Global price of oil declines by 0.5\%}
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\end{itemize}
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\end{itemize}
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6
Defense_proposal/Sections/Start.tex
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Defense_proposal/Sections/Start.tex
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\begin{frame}[plain]{Chapter 2}
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\huge
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\begin{center}
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Bitcoin Mining as a Co-product to oil Production
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\end{center}
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\end{frame}
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