ESF Vocab 3

mikegibbs's version from 2015-12-07 06:19

Ch. 13 Transportation Service and Infrastructure


Question Answer
Internal Combustion Engineignites oil/gasoline to create energy
Light Duty Vehicleboth cars and light trucks
Heavy Duty Vehicletrucks that move bulk goods and material
Co-dependencewhen the physical capital of vehicles and infrastructure have each had to develop simultaneously and now rely on the existence of the other for continued efficient operation
Complementary Goodtwo goods that have to be consumed at the same time, elasticity of demand is negative across the two goods
Investment Lock-inwhen vehicle and infrastructure owners continue to reinforce their existing choices due to the complementary nature with the other
Fueling Ratederived from the amount of energy over unit of time, it can be thought of as a "power rating" in fuel transfer from one location to the other
Total Cost of Ownership (TCO)(similar to LCOE) Fixed Costs (vehicle cost, additional fueling components, WACC, Asset Life, Scrap Value), Performance Variable (Fuel Consumption, Distance Traveled, Driving Behavior), Operating Costs (Fuel Costs, Maintenance Expense, Cost of Operation)
Scrap Value(under Fixed Cost of TCO) selling into a secondary market
Energy Efficiency Design Index (EEDI)describes the efficiency elements designed not the vehicle itself; these are generally established at the time of construction, but can also be added later through upgrading
Fuel Efficiencydistance traveled per unit of fuel
Fuel Consumptionhow much fuel is needed to travel a unit of distance
Passenger Kilometer (Pkm)how many paying passengers multiplied by the distance traveled
Corporate Average Fuel Economy (CAFE)established fuel economy standards to increase energy efficiency
Rebound Effectwhen demand drops and the subsequent price reduces, which then incentives more consumption- think oil embargo '73
Bunker Fuelsfuels stored in a ship's bunker