It defines risk as: Exposure to the possibility of loss, injury, or other adverse or unwelcome circumstance; a chance or situation involving such a possibility. This definition, using project terminology, is easily made universal by removing references to projects. The possibility that an actual return on an investment will be lower than the expected return.
Page 18 Share Cite Suggested Citation: The National Academies Press. The most recent amendments to the California ZEV program CARB stipulate that starting in zero tailpipe emissions vehicles battery and fuel cell electric vehicles and plug-in hybrid electric vehicles must together account for Criteria pollutant standards, particularly the recently enacted Tier 3 standards for particulates, oxides of nitrogen, and hydrocarbon emissions, will add emission control costs and may create implementation issues for some fuel economy technologies EPA The criteria pollutant standards are particularly important for diesel-fueled vehicles and some technologies that could be used for gasoline-powered vehicles.
Given that vehicle manufacturers, which are often referred to as Original Equipment Manufacturers OEMsoperate in multiple markets around the world, their vehicle fleets must demonstrate compliance with the standards on the test cycles relevant for a given market.
However, different technology options may yield varied benefits across the different test cycles used in various markets. For example, the lower speeds and accelerations and longer idling times of the test cycle used in Europe will confer greater advantages to technologies that reduce fuel consumption at lower speeds or idle compared to the test cycle used in this country EPA n.
However, Europe will convert to the Worldwide Harmonized Light Vehicles Test Procedure in the time period, which will lessen the difference between the European and United States test cycles.
Safety requirements will also impose additional equipment requirements and may limit some potential approaches to fuel economy improvement. Fuel Consumption versus Fuel Economy In understanding how the standards are defined and perceived, it is important to distinguish fuel consumption, the volume of fuel consumed divided by the distance traveled, from its inverse, the more commonly reported fuel economy, which is distance traveled divided by the volume of fuel used, usually reported in mpg.
Fuel economy in mpg is familiar to consumers because it is the commonly used metric for vehicle efficiency, and it also tells the consumer something about the utility of the vehicle—how far one can travel on a given quantity of fuel. Fuel consumption, on the other hand, is proportional to the money a consumer would save or the benefits from reduced petroleum use that the nation may accrue from fuel economy standards.
This nonlinear relationship is not well understood by consumers and leads to misinterpretation of the benefits of improved fuel economy for vehicles of different efficiencies Larrick and Soll Compared to less efficient vehicles, more efficient vehicles show a smaller improvement in fuel consumption for a given incremental improvement in fuel economy, see Figure 1.
If the goal of a consumer or policy maker is to minimize fuel use and maximize energy efficiency of passenger vehicle travel, then fuel consumption, rather than fuel economy, is the more straight-forward metric to use for accurate comparisons of the efficiency of different vehicles or vehicle technologies.
The fuel economy of vehicles will also be reported at times because the CAFE standards are defined in terms of fuel economy and the mpg metric is so generally familiar. All fuel economy or fuel consumption values used in the report for actual vehicles fueled exclusively with gasoline or diesel will be compliance numbers as recorded by the EPA unless otherwise noted.
This is to distinguish them from label-reported fuel economy values, which are adjusted to reduce mpg from the city and highway compliance numbers to mimic more closely what consumers will experience in real world driving.
The label value will be occasionally reported when discussing consumer perceptions and will be identified as the fuel economy label value. This is challenging given the inherent difficulty in projecting technology outcomes so far into the future.
In order to accomplish this task, the committee focused its efforts on projecting technology effectiveness and costs in years, and Indirect costs IC include expenditures not directly required for manufacturing a component technology but necessary for the operation of an automobile manufacturing firm.
Page 19 Share Cite Suggested Citation: Fuel consumption reductions are the fundamental metric of vehicle efficiency as they are directly proportional to fuel cost as well as CO2 emissions reductions.
The graph highlights the diminishing fuel consumption reduction benefit to marginal increases in fuel economy for increasingly efficient vehicles. The committee also used input from OEMs, suppliers and other analysts whose predictions are often geared towards near-term implementations. Recognizing both the importance of looking at fuel consumption reduction technologies beyond and the high degree of uncertainty associated with making projections so far into the future, the committee felt it best to discuss only qualitatively the prospects for most technologies for the time frame beyond The committee has included effectiveness and cost estimates for SI technologies that might be available beyond in Tables S.
The committee found the analysis conducted by NHTSA and EPA in their development of the standards to be thorough and of high caliber on the whole, and recognized in particular the value of their use of teardown studies and full-system simulation for estimating cost and effectiveness of many technologies.
This analysis, which is presented in the following chapters, relied on committee expertise; presentations from Agency experts, OEMs, suppliers, and others; and information contained in regulatory documents, academic literature, and press accounts.
As part of this effort, the committee reviewed the extensive modeling and analysis done by the Agencies during the rulemaking, as documented in the supporting studies for the final rule. This included reviews of information contained in published studies; input from experts in the automobile field including consultants, OEMs, and suppliers; and discussions with experts from NHTSA and EPA.
The committee recommends that the Agencies revisit these areas of difference in depth in the midterm evaluation. For some technologies, committee members held different views on the best estimate of cost and effectiveness; these are represented in the different values in Tables S.Cabotage 1.
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to domestic shipping companies. 2. Air transportation within a country. HANDBOOK ON ECONOMIC ANALYSIS OF INVESTMENT OPERATIONS Pedro Belli Jock Anderson Howard Barnum John Dixon Jee-Peng Tan Operational Core Services Network Learning and Leadership Center January 26, a. Adjusted Earnings. Emsi’s total earnings, adjusted by the C2ER Cost of Living Index (COLI)..
The Cost of Living index is based off a base scale, so to adjust the earnings, Emsi first divides our earnings by the COLI, then multiplies the result by Light-duty vehicles (LDVs) are the primary mode of transportation for the majority of the American public, being used for over 80% of all personal trips and comprising almost 90% of all passenger miles traveled (FHWA ).
These vehicles consume about billion gallons of gasoline each year, or. Letter of Credit (L/c) Documentry Collection Export Import International Trade. The Labour Party: The New Hope for Britain I should like to thank Adam McKenna for his help in preparing this page.