Please provide the answer of the question: P Cost of production (2010 US$ per barrel of oil)

Please provide the answer of the question:

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P Cost of production (2010 US$ per barrel of oil) 110 100 Conventional 2P reserves in production or scheduled 0 Reserve growth Undiscovered Arctic 90 Light tight oil 80 70 60 Mined kerogen oil In situ kerogen oil 50- Natural gas 40 liquids 30 20 10 0 f) Mined natural bitumen In situ natural bitumen Extra-heavy 1,000 Remaining ultimately recoverable resources (billions of barrels) 2,000 3,000 4,000 5,000 The above Figure shows an estimate of the cost of oil production as a function of oil resources. We approximate the cost curve with the following linear relationship between marginal cost of production mc (in USD/barrel) and the resources extracted Q_(in billion barrels): mc=10+0.02*Q=10+0.02*Q Further, let's assume that the total oil resources that can be extracted are Qmax-5000 billion barrels. Note! All answers are in integer values (round to the closest one if you need to). a) If we assume no other restrictions and that there is no substitute for oil, how much of the oil would be extracted (in billion oil barrels)? b) b) Like in a), assume that there is no substitute for oil, but now there is a global and binding carbon tax of 13 USD/barrel to oil (around 30 USD/tCO2). How much of the oil would now be extracted (in billion oil barrels)? c) c) Assume that the world oil price is P=50 in USD/barrel. If that would be the price level permanently, how much oil would be extracted (in billion oil barrels)? Use the linear approximation above. d) d) According to climate models, if we want to be 99 % certain that the global temperature rise is kept below 2 degrees Celsius, we have a carbon budget of around 1000 GtCO2. Ignoring other greenhouse gas sources, if the whole budget would be allocated to oil, then the carbon budget corresponds to roughly 23002300 billion oil barrels used. Given the above linear assumption, what would be the maximum marginal extraction cost of that oil (in USD/barrel)? e) Continuing with the same carbon budget as in d) above, ignoring all other sources of carbon emissions, and assuming that no climate policies are in place. If we were to rely on demand side technologies to stay within the carbon budget, then what would be the cost of substitute for oil (in USD/barrel)? Continuing with e) above, but now assume that we have the carbon tax from b) in place, 13 USD/barrel. What should the cost of substitute for oil be now to limit us below the carbon budget (in USD/barrel)? P Cost of production (2010 US$ per barrel of oil) 110 100 Conventional 2P reserves in production or scheduled 0 Reserve growth Undiscovered Arctic 90 Light tight oil 80 70 60 Mined kerogen oil In situ kerogen oil 50- Natural gas 40 liquids 30 20 10 0 f) Mined natural bitumen In situ natural bitumen Extra-heavy 1,000 Remaining ultimately recoverable resources (billions of barrels) 2,000 3,000 4,000 5,000 The above Figure shows an estimate of the cost of oil production as a function of oil resources. We approximate the cost curve with the following linear relationship between marginal cost of production mc (in USD/barrel) and the resources extracted Q_(in billion barrels): mc=10+0.02*Q=10+0.02*Q Further, let's assume that the total oil resources that can be extracted are Qmax-5000 billion barrels. Note! All answers are in integer values (round to the closest one if you need to). a) If we assume no other restrictions and that there is no substitute for oil, how much of the oil would be extracted (in billion oil barrels)? b) b) Like in a), assume that there is no substitute for oil, but now there is a global and binding carbon tax of 13 USD/barrel to oil (around 30 USD/tCO2). How much of the oil would now be extracted (in billion oil barrels)? c) c) Assume that the world oil price is P=50 in USD/barrel. If that would be the price level permanently, how much oil would be extracted (in billion oil barrels)? Use the linear approximation above. d) d) According to climate models, if we want to be 99 % certain that the global temperature rise is kept below 2 degrees Celsius, we have a carbon budget of around 1000 GtCO2. Ignoring other greenhouse gas sources, if the whole budget would be allocated to oil, then the carbon budget corresponds to roughly 23002300 billion oil barrels used. Given the above linear assumption, what would be the maximum marginal extraction cost of that oil (in USD/barrel)? e) Continuing with the same carbon budget as in d) above, ignoring all other sources of carbon emissions, and assuming that no climate policies are in place. If we were to rely on demand side technologies to stay within the carbon budget, then what would be the cost of substitute for oil (in USD/barrel)? Continuing with e) above, but now assume that we have the carbon tax from b) in place, 13 USD/barrel. What should the cost of substitute for oil be now to limit us below the carbon budget (in USD/barrel)?