• Title/Summary/Keyword: High Oil Price

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Value of palm kernel co-products in swine diets

  • Kim, Sheena;Kim, Byeonghyeon;Kim, Younghoon;Jung, Samooel;Kim, Younghwa;Park, Juncheol;Song, Minho;Oh, Sangnam
    • Korean Journal of Agricultural Science
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    • v.43 no.5
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    • pp.761-768
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    • 2016
  • Recently, swine production costs have increased due to increased feed cost, especially the price of corn and soybean meals. Soybean meal is traditionally an expensive ingredient, but the price of corn has dramatically increased because of increased biofuel production. This change has resulted in the swine industry looking for alternatives in order to reduce feed cost, resulting in decreased production costs. Thus, various alternatives have been used as feed ingredients to replace corn, soybean meal, or other expensive ingredients. One othercandidate may be palm kernel co-products that are a by-product of oil extraction from palm fruits. Palm kernel co-products have not been used in swine diets due to high fiber content and imbalanced amino acids compared with corn and soybean meal. However, recent studies showed that palm kernel co-products did not have any negative effects on growth performance of pigs when they replaced some proportions of corn and soybean meal. In addition, palm kernel co-products may provide some physiological properties to pigs by modifying gut microbiota and/or immunity of pigs, resulting in improvement of growth and health of pigs. Therefore, the value of palm kernel co-products were reviewed as one of the alternatives for corn, soybean meal, or other major ingredients in swine diets.

Corrosion Characteristics of Welding Zone by Types of Repair Welding Filler Metals and Post Weld Heat Treatment

  • Lee, Sung-Yul;Moon, Kyung-Man;Lee, Yeon-Chang;Kim, Yun-Hae;Jeong, Jae-Hyun
    • International Journal of Ocean System Engineering
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    • v.2 no.4
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    • pp.209-213
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    • 2012
  • Recently, the fuel using in the diesel engines of marine ships has been changed to a low quality of heavy oil because of the steady increase in the price of oil. Therefore, the wear and corrosion in all parts of the engine such as the cylinder liner, piston crown, and spindle and seat ring of exhaust valves has correspondingly increased. The repair welding of a piston crown is a unique method for prolonging its lifetime from an economic point of view. In this case, filler metals with a high corrosion and wear resistance are mainly being used for repair welding. However, often at a job site on a ship, a piston crown is actually welded with mild filler metals. Therefore, in this study, mild filler metals such as CSF350H, E8000B2, and 435 were welded to SS401 steel as the base metal, and the corrosion properties of the weld metals with and without post weld heat treatment were investigated using some electrochemical methods in a 0.1% $H_2SO_4$ solution. The weld metal welded with CSF350H filler metal exhibited the best corrosion resistance among these filler metals, irrespective of the heat treatment. However, the weld metal zones of the E8000B2 and 435 filler metals exhibited better and worse corrosion resistance with the heat treatment, respectively. As a result, it is suggested that in the case of repair welding with CSF350H and 435 filler metals, no heat treatment is advisable, while heat treatment is desirable if E8000B2filler metal is used with repair welding.

Analysis of Extreme Values of Daily Percentage Increases and Decreases in Crude Oil Spot Prices (국제현물원유가의 일일 상승 및 하락율의 극단값 분석)

  • Yun, Seok-Hoon
    • The Korean Journal of Applied Statistics
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    • v.23 no.5
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    • pp.835-844
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    • 2010
  • Tools for statistical analysis of extreme values include the classical annual maximum method, the modern threshold method and variants improving the second one. While the annual maximum method is to t th generalized extreme value distribution to the annual maxima of a time series, the threshold method is to the generalized Pareto distribution to the excesses over a high threshold from the series. In this paper we deal with the Poisson-GPD method, a variant of the threshold method with a further assumption that the total number of exceedances follows the Poisson distribution, and apply it to the daily percentage increases and decreases computed from the spot prices of West Texas Intermediate, which were collected from January 4th, 1988 until December 31st, 2009. According to this analysis, the distribution of daily percentage increases as well as decreases turns out to have a heavy tail, unlike the normal distribution, which coincides well with the general phenomenon appearing in the analysis of lots of nowaday nancial data.

Operating Performance of hair-tail angling vessel using the LED and metal halide fishing lamp combination (LED와 메탈핼라이드 집어등을 겸용한 갈치채낚기 어선의 조업 성능)

  • An, Heui-Chun;Bae, Bong-Seong;Lee, Kyoung-Hoon;Park, Seong-Wook;Bae, Jae-Hyun
    • Journal of the Korean Society of Fisheries and Ocean Technology
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    • v.48 no.4
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    • pp.337-345
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    • 2012
  • One of representative Korean fisheries, jigging and angling has 5,700 vessels for squid and hairtail. Hairtail angling is the most typical fishery in Jeju and has an enormous impact on regional economy. However, the price hike in oil and labor costs triggered the necessity of developing a high efficient and energy saving fish luring lamp in recent times. For that reason, this study aimed to analyze the fishing performance of the aircooled LED lamp targeting hairtail angling fishery. The experiment was conducted from September through October in 2009-2011 for a 9.77 ton of fishing vessel setting up 100 lamps. The fishing performance was tested compared with 6 vessels using metal halide lamps in the same waters. As the LED lamp's performance goes up, different lamps were used in 2008 for 80W, 2009 for 120W and 2011 for 180W respectively. The catch and CPUE of the experimental vessel have gradually increased respectively taking the $4^{th}$ and $6^{th}$ place in 2009, the $4^{th}$ and $2^{nd}$ place in 2010, the $1^{st}$ and $1^{st}$ place in 2011 among the 7 vessels. In summary, the LED fishing lamp showed higher fishing performance than comparison groups. It saved 33% of oil consumption and cut down on operating expenses and greenhouse gases emission.

A Study on International Market Share Expansion Based on Derived Problems from Performance Record Analysis on Overseas Construction (해외건설 실적분석을 통한 문제점 도출 및 시장 확대방안에 관한 연구)

  • Choi, Jun-Youl;Jeon, Rak-Keun;Kim, Jae-Jun
    • Korean Journal of Construction Engineering and Management
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    • v.7 no.4 s.32
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    • pp.109-117
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    • 2006
  • The domestic construction market is recovered after a foreign exchange crises but recently it's daunted again because of the sustainable real estate regulation policy by the government. The other aspect, after the WTO(World Trade Organization) system opened overseas construction is growing continuously with growth of international economy and opening of market through world. Moreover, for ballooning oil prices an orders increase by oil-producing countries, the Middle East, gives good chances to domestic construction enterprises. But, the domestic firms decrease on our domain by chases of developing country and high-technology or advanced country. This research will indicate processes of our construction business to analyze performance record about our overseas construction from the 1970s to present. Based on the results it intends to search for problems of our construction enterprises and provide useful analytic data for expansion of overseas construction market.

Techno-economic Evaluation of an Ethanol Production Process for Biomass Waste (바이오매스 폐기물의 에탄올 생산 공정의 기술경제성 평가)

  • Gwak, In-seop;Hwang, Jong-Ha;Lee, See Hoon
    • Applied Chemistry for Engineering
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    • v.27 no.2
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    • pp.171-178
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    • 2016
  • Extensive efforts from all over the world have been made to solve energy problems, such as high oil prices, global warning due to the depletion of oil. Among them, biofuel has been drawing attention as a clean energy, which can replace fossil fuels. However, conventional biofuels were often converted from eatable biomass such as sugar cane, corn and soy which should be replaced with uneatable biomass. In this study, a techno-economical evaluation of the gasification of biomass waste with mixed alcohol synthesis process was performed. Considering available domestic biomass wastes, a 2000 ton/day conversion plant were assumed to produce 533000 L/day ethanol. Also, financial data from previous studies were evaluated and used and economical sensitivities with various operation conditions were established. Economic analysis were conducted by the payback period and internal rate of return (IRR) and net present value (NPV). Sensitivity analyses of raw material costs, initial investment, the major process cost, ethanol price changes and operating costs were all performed.

Coal gasification with High Temperature Steam (고온(高溫) 수증기(水蒸氣)를 이용한 석탄(石炭) 가스화)

  • Yun, Jin-Han;Kim, Woo-Hyun;Keel, Sang-In;Min, Tai-Jin;Roh, Seon-Ah
    • Resources Recycling
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    • v.16 no.6
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    • pp.28-33
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    • 2007
  • Coal is the most abundant energy source and deposited in every area of world. Combustion process with lower efficiency has been mainly used. Therefore, implementation of more efficient technologies, involving gasification, combined cycles and fuel cells, would be a key issue in the plans for more efficient power generation. In these technologies, gasification has been studied for decades. However, coal gasification to high value combustible gas such as hydrogen and carbon monoxide is focused again due to high oil price. The gaseous product, called syngas, can be effectively utilized in a variety of ways ranging from electricity production to chemical industry (as feedstock). In this study, coal gasification with ultra high temperature steam has been performed. The effect of steam/carbon ratio on the produced gas concentrations, gasification rate and additional products like tar, ammonia and cyan compounds has been determined.

A Study on Combustion and Emission Characteristics of a Diesel Engine Fuelled with Pyrolysis Oil-Ethanol and Pilot Diesel (바이오원유-에탄올/파일럿 디젤유 이종연료 혼소를 통한 디젤엔진의 연소 및 배출가스 특성에 관한 연구)

  • Kim, Min-Jae;Lee, Seok-Hwan;Cho, Jeong-Kwon;Yoon, Jun-Kyu;Lim, Jong-Han
    • Journal of the Korea Academia-Industrial cooperation Society
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    • v.18 no.5
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    • pp.420-427
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    • 2017
  • Recently, the depletion of fossil fuels, global warming and environmental pollution have emerged as a worldwide problem, and studies of new renewable energy sources have been progressed. Among the many renewable energy sources, the use of bio fuel has the potential to displace fossil fuels due to low price, easy to handle, and the abundant sources. Pyrolysis oil (PO) derived from waste wood and sawdust is considered an alternative fuel for use in diesel engines. On the other hand, PO is limited to diesel engines because of its low cetane number, high viscosity, high acidity, and low energy density. Therefore, to improve its poor properties, PO was mixed with alcohol fuels, such as ethanol. Early mixing with ethanol has the benefit of improving the storage and handling properties of the PO. Furthermore, a PO-ethanol blended fuel was injected separately, which can be fired through pilot-injected diesel in a dual-injection diesel engine. The experimental results showed that the substitution of diesel with blended fuel increases the amount of HC and CO, but reduces the NOx and PM significantly.

Discrimination of vegetable oils by stable carbon isotope ratio and fatty acid composition (탄소 안정동위원소 비율 및 지방산 조성을 활용한 식용유지류의 판별)

  • Kim, Jae-Young;Lee, Sang-Mok;Chang, Moon-Ik;Cho, Yoon-Jae;Chae, Young-Sik
    • Analytical Science and Technology
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    • v.27 no.1
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    • pp.66-77
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    • 2014
  • This study was carried out to examine the authenticity discrimination of circulated vegetable oils by using carbon isotope ratio (${\delta}^{13}C$) and fatty acid composition. This analysis was applied to vegetable oils which we can buy in Korean markets, and the analytical instrument was measured by using EA-IR/MS for ${\delta}^{13}C$ and GC/FID for fatty acid composition. ${\delta}^{13}C$ was separated into 3 groups as $C_3$ plant including sesame oil, $C_4$ plant including maize oil, and rice bran oil. Fatty acid composition was significantly different among vegetable oils. In addition, the interval of low and high price vegetable oils was classified through the scatter plot analysis showing the correlation of the ${\delta}^{13}C$ and fatty acid composition. Therefore, through a simultaneous determination of the ${\delta}^{13}C$ and fatty acid composition, we are able to determine the majority of vegetable oils. It help to ensure food safety in Korean market by exclusion of economically modified adulteration in food.

Performance Comparison of Reinforcement Learning Algorithms for Futures Scalping (해외선물 스캘핑을 위한 강화학습 알고리즘의 성능비교)

  • Jung, Deuk-Kyo;Lee, Se-Hun;Kang, Jae-Mo
    • The Journal of the Convergence on Culture Technology
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    • v.8 no.5
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    • pp.697-703
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    • 2022
  • Due to the recent economic downturn caused by Covid-19 and the unstable international situation, many investors are choosing the derivatives market as a means of investment. However, the derivatives market has a greater risk than the stock market, and research on the market of market participants is insufficient. Recently, with the development of artificial intelligence, machine learning has been widely used in the derivatives market. In this paper, reinforcement learning, one of the machine learning techniques, is applied to analyze the scalping technique that trades futures in minutes. The data set consists of 21 attributes using the closing price, moving average line, and Bollinger band indicators of 1 minute and 3 minute data for 6 months by selecting 4 products among futures products traded at trading firm. In the experiment, DNN artificial neural network model and three reinforcement learning algorithms, namely, DQN (Deep Q-Network), A2C (Advantage Actor Critic), and A3C (Asynchronous A2C) were used, and they were trained and verified through learning data set and test data set. For scalping, the agent chooses one of the actions of buying and selling, and the ratio of the portfolio value according to the action result is rewarded. Experiment results show that the energy sector products such as Heating Oil and Crude Oil yield relatively high cumulative returns compared to the index sector products such as Mini Russell 2000 and Hang Seng Index.