ig Oil Petroleum is a fictitious producer and supplier of fuel that owns several oil refineries in the United States and abroad. They are currently considering several potential projects. For each of the projects listed below, please determine if a firm WACC or project WACC would be appropriate and include the reasons why you chose one versus the other.

1. An initiative to develop a new fuel source comprised of algae
2. Developing a new fuel to be used in commercial trips into space
3. Manufacturing fuel efficient and safety conscious tankers for delivering their oil
4. Travelling to unexplored areas of the ocean's floor in pursuit of new energy reserves
5. Manufacturing solar panels in response to a growing demand for renewable energy sources
6. Purchasing a line of gas stations/convenience stores operating in the United States
7. Building restaurants at highway rest stops where their gas stations are located