Up until now, 18 billion barrels of oil have been recovered from the Alaskan oil fields...

  

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Up until now, 18 billion barrels of oil have been recovered from the Alaskan oil fields and the remaining reserves are estimated at 3 billion barrels of oil. Production peaked in 1988 at 2 million barrels per day. (a) (12 pts) Assuming a Gaussian model, what would you expect the current production rate to be in 2025? Express your answer in million barrels per day (MMbbl/day) and note that there are 1,000 MMbbl (million barrels) in 1 Bbbl (billion barrels). (b) (3 pts) You can also model the product using an exponential model. Name two things the Gaussian model accounts for in material consumption behavior that the exponential model does not for this example. Up until now, 18 billion barrels of oil have been recovered from the Alaskan oil fields and the remaining reserves are estimated at 3 billion barrels of oil. Production peaked in 1988 at 2 million barrels per day. (a) (12 pts) Assuming a Gaussian model, what would you expect the current production rate to be in 2025? Express your answer in million barrels per day (MMbbl/day) and note that there are 1,000 MMbbl (million barrels) in 1 Bbbl (billion barrels). (b) (3 pts) You can also model the product using an exponential model. Name two things the Gaussian model accounts for in material consumption behavior that the exponential model does not for this example.