Modeling Oil Consumption

Team: 49


Area of Science: Economics

Abstract: We intend to model the use of oil in order to better understand world wide energy supplies and the consumption of them. Our model will be a study of how oil is used now and will be used to help understand what the future of oil as a fuel will be. Our project will be using data from preexisting studies to determine the quantity of oil remaining world wide and to determine what usage trends have been during the past century so as to project possible variables to model future consumption. The project will serve to help increase understanding of the future of energy by projecting what quantities of oil will be used in the future depending on the course of events taken. Our model will study different courses of events that could be taken and the results of each of those courses. At the end of the project we hope to better understand the relevance of numbers relating to oil consumption versus the quantity of oil thought to exist so as better understand the future of oil as a fuel and to understand how to use it most effectively.

Team Members:

  Jack Yu
  Mikhail Shashkov
  Luke Storer

Sponsoring Teacher: Diane Medford