1. Which of the following is false?

A. Conventional oil extraction requires investments in the billions of dollars

B. Conventional oil extraction project lifetimes are a decade or longer

C. Fracking requires investments an order of magnitude lower than conventional oil

D. Fracking project lifetimes are often short

E. Fracking allows additional oil supply to be brought to market in small increments

2. How did OPEC change their strategy once shale oil became a major player?

A. They began to focus on maintaining market share

B. They expanded the set of countries to increase the cartel's power

C. They continued to maintain a high price of oil

D. They invested in developing large new supplies of oil and gas

E. They invested heavily in liquified natural gas exporting

3. What is in a barrel of oil?

A. A mixture of hydrocarbons

B. A single molecule

C. Gasoline

D. Methane

E. Butane

4. Which region has the largest share of power generation from renewables?

A. Africa

B. Asia Pacific

C. South & Central America

D. North America

E. Europe

5. Which primary energy resource is the worst contributor to global warming?

A. Coal

B. Natural Gas

A. Oil

B. Nuclear

C. Renewables

6. The share of global energy consumption from renewables is closest to:

A. 10%

B. 20%

C. 30%

D. 40%

E. 50%

7. Which of the following is false?

A. Coal adds about 2 times as much CO2 as natural gas

B. Oil products add about 1.5 times as much CO2 as natural gas

C. World consumption of natural gas is about 300 billion cubic feet per day

D. 1 ton of CO2 contains 545 pounds of carbon

E. British Thermal Units (BTUs) are a commonly used measure of volume for hydrocarbons.

8. What is the purpose of calculating the Levelized Cost of Electricity (LCOE)?

A. To determine the efficiency of a power plant

B. To compare the costs of different electricity generation technologies on an equal footing

C. To calculate the capacity factor of a power plant

D. To evaluate the environmental impact of a power plant

E. To predict the market price of electricity

9. For which of these technologies does fuel comprise a relatively high proportion of costs?

A. Hydraulic

B. Solar

C. Wind

D. Nuclear

E. Integrated gasification combined cycle (IGCC)

10. Which of the following technologies has high capital costs for generating electricity?

A. Nuclear

B. Coal fired

C. Natural gas

D. Pulverized coal, PC

E. Integrated gasification combined cycle IGCC?

11. What was the main reason for Rapa Nui's severe deforestation?

A. Inhabitants were wasteful

B. The island was overpopulated

C. The environment was fragile and at high risk for deforestation

D. Natural disasters

E. Introduction of invasive species

12. What did Thomas Malthus believe would correct population growth when it surpassed the carrying capacity of land?

A. Technological advancements

B. Migration to other lands

C. Famine, disease, and war

D. A decrease in fertility rates

E. Government intervention

13. Which of the following mechanisms can be used to control resource exploitation rates?

A. Market mechanisms with well-defined property rights

B. Governance mechanisms with control by a leader or ruling group

C. Technological advancements to improve resource management

D. A and B

E. All of the above

14. What was the fundamental 20th century ideological battle discussed in this course?

A. Capitalism vs. socialism

B. Democracy vs. dictatorship

C. Religion vs. secularism

D. Capitalism and markets vs. government-directed production

E. Globalization vs. isolationism

15. What event in the 1930s led to increased advocacy for central planning as a better approach to markets?

A. The Great Depression

B. The Stock Market Crash

C. The New Deal

D. The Rise of Fascism

E. The Second World War

16. What term describes the period of high inflation and high unemployment in the 1970s?

A. The Great Recession

B. The Great Stagflation

C. The Great Depression

D. The Great Deregulation

E. The Great Liberalization

17. Which of the following is a trend that started in the 1980s and continued afterward?

A. Central planning

B. Government ownership and nationalization

C. Deregulation, liberalization, and privatization

D. Increased regulation

E. Expansion of the role of government

18. What type of electricity generation should follow the load?

A. Base-load generation

B. Intermediate generation

C. Peaking plant

D. Nuclear

E. Hydraulic

19. Which of the following is true regarding peaking plants?

A. They have high capital costs

B. They are used all the time

C. They have relatively low capital costs

D. They cannot be turned on and off on short notice

E. They primarily rely on renewable energy sources

20. Which type of energy source cannot serve as a peaking plant?

A. Solar

B. Wind

C. Hydraulic

D. Coal

E. Nuclear

21. Which of the following is an example of an application of the principle of subsidiarity in energy policy?

A. Separation of powers

B. Carbon taxes

C. Feed in tariffs

D. Promoting green jobs

E. Command and control policies

22. In the context of feed-in-tariffs, what does the government do?

A. Sets a carbon tax rate

B. Promotes specific types of renewable energy by requiring higher prices to be paid for them

C. Sets a rate to subsidize carbon sequestration from carbon capture systems

D. Establishes regulatory boundaries between federal and local governments

E. Decides which energy sources should be taxed

23. Which of the following is not one of the critical separations in Western democracies?

A. Separation of powers

B. Separation of religious institutions from the state

C. Separation of government from the economy

D. Separation of government from the media

E. Separation of military from the government

24. In the context of the separation of government and the regulator, why is the integrity of currency/money supply so critical?

A. It ensures the stability of the economy

B. It prevents corruption in the government

C. It maintains a balance of power between federal and local governments

D. It encourages the use of renewable energy sources

E. It allows for efficient resource allocation

25. According to Pope Francis, what is a potential downside of the strategy of buying and selling carbon credits?

A. It effectively reduces global greenhouse gas emissions

B. It promotes the use of renewable energy sources

C. It can lead to a new form of speculation without helping reduce emissions

D. It encourages collaboration between nations to combat climate change

E. It fosters technological innovation in carbon capture and storage

26. What is the main criticism William Nordhaus has regarding Pope Francis' view on market-based environmental policies?

A. The Pope overlooks the essential role of markets in combating global warming

B. The Pope advocates for stronger regulations on carbon-intensive industries

C. The Pope supports increased government intervention in environmental policies

D. The Pope promotes the adoption of renewable energy sources

E. The Pope emphasizes the importance of international cooperation in climate change mitigation

27. Which of the following is a key feature of the Cap-and-Trade system?

A. The government sets a maximum level of total emissions

B. Carbon taxes are levied on businesses to discourage emissions

C. Emissions permits are not tradable between businesses

D. The system is only applicable to specific industries, such as energy production

E. It requires businesses to invest in carbon capture and storage technology

28. Which of the following types of international agreements have the lowest degree of difficulty?

A. Coordination agreements

B. Treaties on international trade

C. Climate treaties

D. Agreements involving global public goods

E. Prisoner's dilemma-based agreements

29. What is the main purpose of implementing penalty tariffs in the Climate Club?

A. To fine-tune tariffs according to nonparticipant countries' production structures

B. To provide strong incentives for countries to join the club

C. To punish countries that do not reduce their carbon emissions

D. To impose countervailing duties on the carbon content of imports

E. To calculate the indirect carbon content of imports

30. What is causing the state of California to face difficulties in ensuring adequate electricity supply?

A. A lack of infrastructure investment

B. A high dependence on fossil fuels

C. Customers defecting from utilities

D. A lack of renewable energy sources

E. Excessive energy consumption