https://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&feed=atom&action=historyEstimation of production cost and revenue - Revision history2024-03-29T12:52:29ZRevision history for this page on the wikiMediaWiki 1.39.2https://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&diff=5083&oldid=prevWFu: Undo revision 5082 by WFu (talk)2016-03-11T17:33:18Z<p>Undo revision 5082 by <a href="/index.php/Special:Contributions/WFu" title="Special:Contributions/WFu">WFu</a> (<a href="/index.php/User_talk:WFu" title="User talk:WFu">talk</a>)</p>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>Another case study, conducted by CNN, analyzed the world market for rare earth minerals. Rare earth minerals are vital to the preparation of catalysts, which impacts a large portion of the chemical engineering industry. Additionally, rare earth minerals are used extensively in a wide variety of consumer products, including but not limited to hybrid cars and smartphone chips. Any process engineer looking to design a plant where production utilizes rare earth minerals should analyze this global market in order to influence his decisions that go into designing the process. The case study conducted by CNN highlights the fact that China is the dominant player in the global market for rare earth minerals (Yan, 2015). Per National Center for Policy Analysis, with whom CNN consulted during their case study, China controls about 95% of global rare earth mineral production, and holds half of the world’s resources of these metals. A specific subset of rare earth minerals, rare earth oxides, are vital components of many catalysts. Figure 1 below shows just how strong of a monopoly China has on these rare earth oxides in the global market. The supply crunch brought on by China forced the lone United States producer of rare earth metals, Molycorp, into bankruptcy. China having a near monopoly on the global market for rare earth metals means that they can exert their dominance on the market in several fashions. One such example came in 2010, when Beijing abruptly reducing their export quota for rare earth minerals lead to skyrocketing prices. A process engineer who’s proposed design includes the use of any catalyst using these rare earth metals must take all of these possibilities into account. In this example, does the influence China has on the global rare earth metals market make it more sensible to build a plant in China? Or maybe the volatility of the prices is too concerning, which could lead to the process engineer being forced to redesign his process without the use of a catalyst. Though this would certainly reduce product yield, it could be the case that the markets for the metals that make the necessary catalyst render the process without the catalyst more profitable on a per unit basis. This rare earth metal example is just one of many; the overall lesson is that a process engineer must evaluate the global markets for all important inputs to his process, as the profitability of different designs will be heavily influenced by these markets.</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>Another case study, conducted by CNN, analyzed the world market for rare earth minerals. Rare earth minerals are vital to the preparation of catalysts, which impacts a large portion of the chemical engineering industry. Additionally, rare earth minerals are used extensively in a wide variety of consumer products, including but not limited to hybrid cars and smartphone chips. Any process engineer looking to design a plant where production utilizes rare earth minerals should analyze this global market in order to influence his decisions that go into designing the process. The case study conducted by CNN highlights the fact that China is the dominant player in the global market for rare earth minerals (Yan, 2015). Per National Center for Policy Analysis, with whom CNN consulted during their case study, China controls about 95% of global rare earth mineral production, and holds half of the world’s resources of these metals. A specific subset of rare earth minerals, rare earth oxides, are vital components of many catalysts. Figure 1 below shows just how strong of a monopoly China has on these rare earth oxides in the global market. The supply crunch brought on by China forced the lone United States producer of rare earth metals, Molycorp, into bankruptcy. China having a near monopoly on the global market for rare earth metals means that they can exert their dominance on the market in several fashions. One such example came in 2010, when Beijing abruptly reducing their export quota for rare earth minerals lead to skyrocketing prices. A process engineer who’s proposed design includes the use of any catalyst using these rare earth metals must take all of these possibilities into account. In this example, does the influence China has on the global rare earth metals market make it more sensible to build a plant in China? Or maybe the volatility of the prices is too concerning, which could lead to the process engineer being forced to redesign his process without the use of a catalyst. Though this would certainly reduce product yield, it could be the case that the markets for the metals that make the necessary catalyst render the process without the catalyst more profitable on a per unit basis. This rare earth metal example is just one of many; the overall lesson is that a process engineer must evaluate the global markets for all important inputs to his process, as the profitability of different designs will be heavily influenced by these markets.</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>[[File:reo.jpg|frame|center|border|<div align=center> Figure 1<ins style="font-weight: bold; text-decoration: none;">:</ins> <ins style="font-weight: bold; text-decoration: none;">Global</ins> <ins style="font-weight: bold; text-decoration: none;">rare</ins> <ins style="font-weight: bold; text-decoration: none;">earth</ins> <ins style="font-weight: bold; text-decoration: none;">oxide</ins> <ins style="font-weight: bold; text-decoration: none;">production</ins> <ins style="font-weight: bold; text-decoration: none;">trends</ins> <ins style="font-weight: bold; text-decoration: none;">from</ins> <ins style="font-weight: bold; text-decoration: none;">1956-2010</ins> <ins style="font-weight: bold; text-decoration: none;">(Tse,</ins> <ins style="font-weight: bold; text-decoration: none;">2011</ins>) <div>]]</div></td>
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</table>WFuhttps://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&diff=5082&oldid=prevWFu at 17:32, 11 March 20162016-03-11T17:32:43Z<p></p>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>Another case study, conducted by CNN, analyzed the world market for rare earth minerals. Rare earth minerals are vital to the preparation of catalysts, which impacts a large portion of the chemical engineering industry. Additionally, rare earth minerals are used extensively in a wide variety of consumer products, including but not limited to hybrid cars and smartphone chips. Any process engineer looking to design a plant where production utilizes rare earth minerals should analyze this global market in order to influence his decisions that go into designing the process. The case study conducted by CNN highlights the fact that China is the dominant player in the global market for rare earth minerals (Yan, 2015). Per National Center for Policy Analysis, with whom CNN consulted during their case study, China controls about 95% of global rare earth mineral production, and holds half of the world’s resources of these metals. A specific subset of rare earth minerals, rare earth oxides, are vital components of many catalysts. Figure 1 below shows just how strong of a monopoly China has on these rare earth oxides in the global market. The supply crunch brought on by China forced the lone United States producer of rare earth metals, Molycorp, into bankruptcy. China having a near monopoly on the global market for rare earth metals means that they can exert their dominance on the market in several fashions. One such example came in 2010, when Beijing abruptly reducing their export quota for rare earth minerals lead to skyrocketing prices. A process engineer who’s proposed design includes the use of any catalyst using these rare earth metals must take all of these possibilities into account. In this example, does the influence China has on the global rare earth metals market make it more sensible to build a plant in China? Or maybe the volatility of the prices is too concerning, which could lead to the process engineer being forced to redesign his process without the use of a catalyst. Though this would certainly reduce product yield, it could be the case that the markets for the metals that make the necessary catalyst render the process without the catalyst more profitable on a per unit basis. This rare earth metal example is just one of many; the overall lesson is that a process engineer must evaluate the global markets for all important inputs to his process, as the profitability of different designs will be heavily influenced by these markets.</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>Another case study, conducted by CNN, analyzed the world market for rare earth minerals. Rare earth minerals are vital to the preparation of catalysts, which impacts a large portion of the chemical engineering industry. Additionally, rare earth minerals are used extensively in a wide variety of consumer products, including but not limited to hybrid cars and smartphone chips. Any process engineer looking to design a plant where production utilizes rare earth minerals should analyze this global market in order to influence his decisions that go into designing the process. The case study conducted by CNN highlights the fact that China is the dominant player in the global market for rare earth minerals (Yan, 2015). Per National Center for Policy Analysis, with whom CNN consulted during their case study, China controls about 95% of global rare earth mineral production, and holds half of the world’s resources of these metals. A specific subset of rare earth minerals, rare earth oxides, are vital components of many catalysts. Figure 1 below shows just how strong of a monopoly China has on these rare earth oxides in the global market. The supply crunch brought on by China forced the lone United States producer of rare earth metals, Molycorp, into bankruptcy. China having a near monopoly on the global market for rare earth metals means that they can exert their dominance on the market in several fashions. One such example came in 2010, when Beijing abruptly reducing their export quota for rare earth minerals lead to skyrocketing prices. A process engineer who’s proposed design includes the use of any catalyst using these rare earth metals must take all of these possibilities into account. In this example, does the influence China has on the global rare earth metals market make it more sensible to build a plant in China? Or maybe the volatility of the prices is too concerning, which could lead to the process engineer being forced to redesign his process without the use of a catalyst. Though this would certainly reduce product yield, it could be the case that the markets for the metals that make the necessary catalyst render the process without the catalyst more profitable on a per unit basis. This rare earth metal example is just one of many; the overall lesson is that a process engineer must evaluate the global markets for all important inputs to his process, as the profitability of different designs will be heavily influenced by these markets.</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>[[File:reo.jpg|frame|center|border|<div align=center> Figure 1<ins style="font-weight: bold; text-decoration: none;">.</ins> <ins style="font-weight: bold; text-decoration: none;">a)</ins> <ins style="font-weight: bold; text-decoration: none;">Flash</ins> <ins style="font-weight: bold; text-decoration: none;">conditions</ins> <ins style="font-weight: bold; text-decoration: none;">with</ins> <ins style="font-weight: bold; text-decoration: none;">respect</ins> <ins style="font-weight: bold; text-decoration: none;">to</ins> <ins style="font-weight: bold; text-decoration: none;">pressure</ins> <ins style="font-weight: bold; text-decoration: none;">in</ins> <ins style="font-weight: bold; text-decoration: none;">the</ins> <ins style="font-weight: bold; text-decoration: none;">last drum. b</ins>)<ins style="font-weight: bold; text-decoration: none;"> Process metrics with respect to pressure in the last drum.</ins> <div>]]</div></td>
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</table>WFuhttps://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&diff=4612&oldid=prevRJKolbe at 22:50, 21 February 20162016-02-21T22:50:05Z<p></p>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>Another case study, conducted by CNN, analyzed the world market for rare earth minerals. Rare earth minerals are vital to the preparation of catalysts, which impacts a large portion of the chemical engineering industry. Additionally, rare earth minerals are used extensively in a wide variety of consumer products, including but not limited to hybrid cars and smartphone chips. Any process engineer looking to design a plant where production utilizes rare earth minerals should analyze this global market in order to influence his decisions that go into designing the process. The case study conducted by CNN highlights the fact that China is the dominant player in the global market for rare earth minerals (Yan, 2015). Per National Center for Policy Analysis, with whom CNN consulted during their case study, China controls about 95% of global rare earth mineral production, and holds half of the world’s resources of these metals. A specific subset of rare earth minerals, rare earth oxides, are vital components of many catalysts. Figure 1 below shows just how strong of a monopoly China has on these rare earth oxides in the global market. The supply crunch brought on by China forced the lone United States producer of rare earth metals, Molycorp, into bankruptcy. China having a near monopoly on the global market for rare earth metals means that they can exert their dominance on the market in several fashions. One such example came in 2010, when Beijing abruptly reducing their export quota for rare earth minerals lead to skyrocketing prices. A process engineer who’s proposed design includes the use of any catalyst using these rare earth metals must take all of these possibilities into account. In this example, does the influence China has on the global rare earth metals market make it more sensible to build a plant in China? Or maybe the volatility of the prices is too concerning, which could lead to the process engineer being forced to redesign his process without the use of a catalyst. Though this would certainly reduce product yield, it could be the case that the markets for the metals that make the necessary catalyst render the process without the catalyst more profitable on a per unit basis. This rare earth metal example is just one of many; the overall lesson is that a process engineer must evaluate the global markets for all important inputs to his process, as the profitability of different designs will be heavily influenced by these markets.</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>Another case study, conducted by CNN, analyzed the world market for rare earth minerals. Rare earth minerals are vital to the preparation of catalysts, which impacts a large portion of the chemical engineering industry. Additionally, rare earth minerals are used extensively in a wide variety of consumer products, including but not limited to hybrid cars and smartphone chips. Any process engineer looking to design a plant where production utilizes rare earth minerals should analyze this global market in order to influence his decisions that go into designing the process. The case study conducted by CNN highlights the fact that China is the dominant player in the global market for rare earth minerals (Yan, 2015). Per National Center for Policy Analysis, with whom CNN consulted during their case study, China controls about 95% of global rare earth mineral production, and holds half of the world’s resources of these metals. A specific subset of rare earth minerals, rare earth oxides, are vital components of many catalysts. Figure 1 below shows just how strong of a monopoly China has on these rare earth oxides in the global market. The supply crunch brought on by China forced the lone United States producer of rare earth metals, Molycorp, into bankruptcy. China having a near monopoly on the global market for rare earth metals means that they can exert their dominance on the market in several fashions. One such example came in 2010, when Beijing abruptly reducing their export quota for rare earth minerals lead to skyrocketing prices. A process engineer who’s proposed design includes the use of any catalyst using these rare earth metals must take all of these possibilities into account. In this example, does the influence China has on the global rare earth metals market make it more sensible to build a plant in China? Or maybe the volatility of the prices is too concerning, which could lead to the process engineer being forced to redesign his process without the use of a catalyst. Though this would certainly reduce product yield, it could be the case that the markets for the metals that make the necessary catalyst render the process without the catalyst more profitable on a per unit basis. This rare earth metal example is just one of many; the overall lesson is that a process engineer must evaluate the global markets for all important inputs to his process, as the profitability of different designs will be heavily influenced by these markets.</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>The above analyses cover only a fraction of what a process engineer must consider. The analyses conducted highlight some of the major components, but there are many others that must be considered as well. Global market effects are endless, and play a large part in helping a good process engineer determine how to design a process and where to build a production facility.</div></td>
<td class="diff-marker"></td>
<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>The above analyses cover only a fraction of what a process engineer must consider. The analyses conducted highlight some of the major components, but there are many others that must be considered as well. Global market effects are endless, and play a large part in helping a good process engineer determine how to design a process and where to build a production facility.</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>[[File:Ethanol.JPG|frame|center|border|<div align=center> Figure 2: Global ethanol production from 2007-2011 <div>]]</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>[[File:Ethanol.JPG|frame|center|border|<div align=center> Figure 2: Global ethanol production from 2007-2011<ins style="font-weight: bold; text-decoration: none;"> (evsroll.com)</ins> <div>]]</div></td>
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</table>RJKolbehttps://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&diff=4610&oldid=prevRJKolbe: /* Example */2016-02-21T22:40:02Z<p><span dir="auto"><span class="autocomment">Example</span></span></p>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:Ethanol.JPG|frame|center|border|<div align=center> Figure 2: Global ethanol production from 2007-2011 <div>]]</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>[[File:Steel.JPG|frame|center|border|<div align=center> Figure <ins style="font-weight: bold; text-decoration: none;">3</ins>: Global steel prices from 2006-2012 <div>]]</div></td>
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</table>RJKolbehttps://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&diff=4609&oldid=prevRJKolbe: /* Example */2016-02-21T22:39:38Z<p><span dir="auto"><span class="autocomment">Example</span></span></p>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:Ethanol.JPG|frame|center|border|<div align=center> Figure 2: Global ethanol production from 2007-2011 <div>]]</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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</table>RJKolbehttps://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&diff=4608&oldid=prevRJKolbe: /* Example */2016-02-21T22:38:50Z<p><span dir="auto"><span class="autocomment">Example</span></span></p>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>The above analyses cover only a fraction of what a process engineer must consider. The analyses conducted highlight some of the major components, but there are many others that must be considered as well. Global market effects are endless, and play a large part in helping a good process engineer determine how to design a process and where to build a production facility.</div></td>
<td class="diff-marker"></td>
<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>The above analyses cover only a fraction of what a process engineer must consider. The analyses conducted highlight some of the major components, but there are many others that must be considered as well. Global market effects are endless, and play a large part in helping a good process engineer determine how to design a process and where to build a production facility.</div></td>
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<td class="diff-marker"></td>
<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>[[File:<del style="font-weight: bold; text-decoration: none;">ethanol</del>.<del style="font-weight: bold; text-decoration: none;">jpg</del>|frame|center|border|<div align=center> Figure 2: Global ethanol production from 2007-2011 <div>]]</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>[[File:<ins style="font-weight: bold; text-decoration: none;">Ethanol</ins>.<ins style="font-weight: bold; text-decoration: none;">JPG</ins>|frame|center|border|<div align=center> Figure 2: Global ethanol production from 2007-2011 <div>]]</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:steel.jpg|frame|center|border|<div align=center> Figure 1: Global steel prices from 2006-2012 <div>]]</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:steel.jpg|frame|center|border|<div align=center> Figure 1: Global steel prices from 2006-2012 <div>]]</div></td>
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</table>RJKolbehttps://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&diff=4601&oldid=prevRJKolbe: /* Market Effects on Process Design */2016-02-21T22:34:17Z<p><span dir="auto"><span class="autocomment">Market Effects on Process Design</span></span></p>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:steel.jpg|frame|center|border|<div align=center> Figure 1: Global steel prices from 2006-2012 <div>]]</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>[[File:steel.jpg|frame|center|border|<div align=center> Figure 1: Global steel prices from 2006-2012 <div>]]</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Conclusion==</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Conclusion==</div></td>
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</table>RJKolbehttps://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&diff=4596&oldid=prevRJKolbe: /* Market Effects on Process Design */2016-02-21T22:28:33Z<p><span dir="auto"><span class="autocomment">Market Effects on Process Design</span></span></p>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>A third case study conducted by the Economic Policy Institute analyzed broad world market effects in the form of trade agreements. A trade agreement is a tax, tariff and trade treaty between two or more nations that often includes investment guarantees. One prominent example of a trade agreement is the North American Free Trade Agreement (NAFTA), which was signed in 1993. NAFTA is a trilateral rules based trade bloc between the United States, Canada and Mexico. One of the biggest effects of NAFTA was the movement of chemical and manufacturing plants from the United States to Canada and Mexico. In the first decade of the act (1993-2002), approximately 880,000 U.S. jobs were lost to Canada and Mexico (Scott, 2003). As a result of the influx of jobs, real wages dropped in Mexico, causing the operation of plants and processing facilities in Mexico to be more profitable than in the United States. This in turn lead to more factories moving to Mexico, and the cycle perpetuated. NAFTA is just one example of many trade agreements which had this effect. Globally, trade agreements between developed and developing countries leads to a migration of jobs (and the accompanying lowering of wages) to the developing countries. A process engineer needs to analyze trade agreements between the country in which he works and any countries with which his country has trade agreements. Not only will he likely find cheaper labor in other countries, but depending on the trade agreement, there may be tax breaks, import deals, or a variety of other money saving clauses written in the trade agreement. Overall, regardless of whatever the process may be, a process engineer can save his company millions of dollars by simply analyzing trade agreements and optimizing plant location.</div></td>
<td class="diff-marker"></td>
<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>A third case study conducted by the Economic Policy Institute analyzed broad world market effects in the form of trade agreements. A trade agreement is a tax, tariff and trade treaty between two or more nations that often includes investment guarantees. One prominent example of a trade agreement is the North American Free Trade Agreement (NAFTA), which was signed in 1993. NAFTA is a trilateral rules based trade bloc between the United States, Canada and Mexico. One of the biggest effects of NAFTA was the movement of chemical and manufacturing plants from the United States to Canada and Mexico. In the first decade of the act (1993-2002), approximately 880,000 U.S. jobs were lost to Canada and Mexico (Scott, 2003). As a result of the influx of jobs, real wages dropped in Mexico, causing the operation of plants and processing facilities in Mexico to be more profitable than in the United States. This in turn lead to more factories moving to Mexico, and the cycle perpetuated. NAFTA is just one example of many trade agreements which had this effect. Globally, trade agreements between developed and developing countries leads to a migration of jobs (and the accompanying lowering of wages) to the developing countries. A process engineer needs to analyze trade agreements between the country in which he works and any countries with which his country has trade agreements. Not only will he likely find cheaper labor in other countries, but depending on the trade agreement, there may be tax breaks, import deals, or a variety of other money saving clauses written in the trade agreement. Overall, regardless of whatever the process may be, a process engineer can save his company millions of dollars by simply analyzing trade agreements and optimizing plant location.</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>====Example====</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>====Example====</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>The above analyses cover only a fraction of what a process engineer must consider. The analyses conducted highlight some of the major components, but there are many others that must be considered as well. Global market effects are endless, and play a large part in helping a good process engineer determine how to design a process and where to build a production facility.</div></td>
<td class="diff-marker"></td>
<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>The above analyses cover only a fraction of what a process engineer must consider. The analyses conducted highlight some of the major components, but there are many others that must be considered as well. Global market effects are endless, and play a large part in helping a good process engineer determine how to design a process and where to build a production facility.</div></td>
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<td colspan="2" class="diff-empty diff-side-deleted"></td>
<td class="diff-marker" data-marker="+"></td>
<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>[[File:ethanol.jpg|frame|center|border|<div align=center> Figure 2: Global ethanol production from 2007-2011 <div>]]</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>[[File:steel.jpg|frame|center|border|<div align=center> Figure 1: Global steel prices from 2006-2012 <div>]]</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Conclusion==</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Conclusion==</div></td>
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</table>RJKolbehttps://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&diff=4595&oldid=prevRJKolbe: /* Market Effects on Process Design */2016-02-21T22:25:45Z<p><span dir="auto"><span class="autocomment">Market Effects on Process Design</span></span></p>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #ffe49c; vertical-align: top; white-space: pre-wrap;"><div>Example</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div><ins style="font-weight: bold; text-decoration: none;">====</ins>Example<ins style="font-weight: bold; text-decoration: none;">====</ins></div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>As a final example to sum up some of these global market impacts on a process engineer’s decisions, imagine the following hypothetical process: the production of a new biofuel using ethanol as an input, a catalyzed packed bed reactor to produce the biofuel with carbon dioxide being one of the byproducts, and a distillation column required to purify the product. Let us say that the process engineer is deciding between China and the United States as a location for the plant.</div></td>
<td class="diff-marker"></td>
<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>As a final example to sum up some of these global market impacts on a process engineer’s decisions, imagine the following hypothetical process: the production of a new biofuel using ethanol as an input, a catalyzed packed bed reactor to produce the biofuel with carbon dioxide being one of the byproducts, and a distillation column required to purify the product. Let us say that the process engineer is deciding between China and the United States as a location for the plant.</div></td>
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</table>RJKolbehttps://processdesign.mccormick.northwestern.edu/index.php?title=Estimation_of_production_cost_and_revenue&diff=4594&oldid=prevRJKolbe: /* Market Effects on Process Design */2016-02-21T22:25:06Z<p><span dir="auto"><span class="autocomment">Market Effects on Process Design</span></span></p>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>A third case study conducted by the Economic Policy Institute analyzed broad world market effects in the form of trade agreements. A trade agreement is a tax, tariff and trade treaty between two or more nations that often includes investment guarantees. One prominent example of a trade agreement is the North American Free Trade Agreement (NAFTA), which was signed in 1993. NAFTA is a trilateral rules based trade bloc between the United States, Canada and Mexico. One of the biggest effects of NAFTA was the movement of chemical and manufacturing plants from the United States to Canada and Mexico. In the first decade of the act (1993-2002), approximately 880,000 U.S. jobs were lost to Canada and Mexico (Scott, 2003). As a result of the influx of jobs, real wages dropped in Mexico, causing the operation of plants and processing facilities in Mexico to be more profitable than in the United States. This in turn lead to more factories moving to Mexico, and the cycle perpetuated. NAFTA is just one example of many trade agreements which had this effect. Globally, trade agreements between developed and developing countries leads to a migration of jobs (and the accompanying lowering of wages) to the developing countries. A process engineer needs to analyze trade agreements between the country in which he works and any countries with which his country has trade agreements. Not only will he likely find cheaper labor in other countries, but depending on the trade agreement, there may be tax breaks, import deals, or a variety of other money saving clauses written in the trade agreement. Overall, regardless of whatever the process may be, a process engineer can save his company millions of dollars by simply analyzing trade agreements and optimizing plant location.</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>A third case study conducted by the Economic Policy Institute analyzed broad world market effects in the form of trade agreements. A trade agreement is a tax, tariff and trade treaty between two or more nations that often includes investment guarantees. One prominent example of a trade agreement is the North American Free Trade Agreement (NAFTA), which was signed in 1993. NAFTA is a trilateral rules based trade bloc between the United States, Canada and Mexico. One of the biggest effects of NAFTA was the movement of chemical and manufacturing plants from the United States to Canada and Mexico. In the first decade of the act (1993-2002), approximately 880,000 U.S. jobs were lost to Canada and Mexico (Scott, 2003). As a result of the influx of jobs, real wages dropped in Mexico, causing the operation of plants and processing facilities in Mexico to be more profitable than in the United States. This in turn lead to more factories moving to Mexico, and the cycle perpetuated. NAFTA is just one example of many trade agreements which had this effect. Globally, trade agreements between developed and developing countries leads to a migration of jobs (and the accompanying lowering of wages) to the developing countries. A process engineer needs to analyze trade agreements between the country in which he works and any countries with which his country has trade agreements. Not only will he likely find cheaper labor in other countries, but depending on the trade agreement, there may be tax breaks, import deals, or a variety of other money saving clauses written in the trade agreement. Overall, regardless of whatever the process may be, a process engineer can save his company millions of dollars by simply analyzing trade agreements and optimizing plant location.</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Example</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>As a final example to sum up some of these global market impacts on a process engineer’s decisions, imagine the following hypothetical process: the production of a new biofuel using ethanol as an input, a catalyzed packed bed reactor to produce the biofuel with carbon dioxide being one of the byproducts, and a distillation column required to purify the product. Let us say that the process engineer is deciding between China and the United States as a location for the plant.</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>First of all, seeing as how ethanol is the main feed, if is obviously necessary to look into the global market for ethanol. As can be seen below in Figure 2, the United States and Brazil are the two dominant players in terms of production. This would mean that, despite the relative volatility of ethanol prices, it is reasonable to expect that ethanol would be the cheapest in either of these two countries, since acquiring ethanol would not include shipping costs and/or import tariffs. This favors the United States as the location for this plantAs a quick tangent, since a large amount of ethanol is derived from corn, a process engineer should look into future expected trends for corn globally.</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>Next comes the catalyzed reactor. As highlighted previously, China dwarfs the United States in terms of control of the rare earth metals that go into producing many catalysts. Due to the dominance of China in the rare earth oxide catalysts market, this would favor China as a location for production. Based on the fact that the two important inputs for this process (ethanol and the catalyst) aren’t both cheaper in either the U.S. or China, a process engineer could alter the process to favor one location. For example, if plant production in the U.S. was desirable, perhaps a lesser quality catalyst without as many rare earth metals could be utilized, which would require a larger amount of ethanol in the feed to meet a desired product quantity. This would cut costs on the catalyst (which is much more expensive in the U.S.) while the increase in costs for ethanol (due to increased quantity) would not outweigh the savings on catalyst.</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>The two main products exiting this hypothetical reactor are product biofuel and byproduct carbon dioxide. China recently announced that they will implement a national cap-and-trade system for greenhouse gas emissions in 2017, whereas the United States currently has no policy for taxing greenhouse gas emissions. However, it is highly likely that the United States will soon implement a carbon tax policy similar to Canada’s successful carbon tax policy introduced in 2008. Let us suppose for the sake of this example that a carbon tax will be implemented in the United States in 2017, the same time as China’s policy will come into effect. The cap-and-trade system in China and carbon tax system in the U.S. are very different policies. A carbon tax imposes a flat tax on each unit of carbon dioxide emitted, whereas a cap-and-trade system sets a maximum level of pollution and sells emissions permits to companies allowing them to emit up to the maximum level. Depending on the scale of the process and the quantity of carbon dioxide being released, one policy might be much more favorable, and thusly a process engineer must look into this further.</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>A final aspect to consider is simply the costs associated with any plant. Though there are many costs associated with building and running a plant, two large costs will be analyzed here. The cost of steel required to build the plant, and the cost of labor required to operate the plant. Even though the price of steel is relatively volatile, the per unit costs in China and the U.S. have remained quite close to one another. As for labor, costs are generally lower in China overall, but a process engineer must look into specific salaries for each position at the production facility. Even though China as a whole has less expensive labor, a plant operator for biofuels production may be a much higher paying position in China than it is in the U.S. Overall, taking all of these factors into account, it may make sense for a process engineer to either favor production in one country over another, or alter the process in order to favor one country if he is not in control of where the production facility is being built.</div></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #a3d3ff; vertical-align: top; white-space: pre-wrap;"><div>The above analyses cover only a fraction of what a process engineer must consider. The analyses conducted highlight some of the major components, but there are many others that must be considered as well. Global market effects are endless, and play a large part in helping a good process engineer determine how to design a process and where to build a production facility.</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><br /></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Conclusion==</div></td>
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<td style="background-color: #f8f9fa; color: #202122; font-size: 88%; border-style: solid; border-width: 1px 1px 1px 4px; border-radius: 0.33em; border-color: #eaecf0; vertical-align: top; white-space: pre-wrap;"><div>==Conclusion==</div></td>
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</table>RJKolbe