Electra complex in “The House on Zapote Street”

Our parents are the best treasure that we could have in our life. They are the reason why we exist in this beautiful creation of God, our world. From the moment of our conception until our age of adolescence we are still under the supervision of our parents. But when the right time comes and that we are already in the right age, and we are ready to engage ourselves with relationships, we must be given the independency from them.Electra complex termed by Carl Jung refers to a girl or woman who falls in love with her father and becomes jealous of her mother and or the girl daughter and the father has an intimate relationship towards each other. â€Å"House on Zapote Street†, a short story written by one of the famous Filipino writer Nick Joaquin emphasized this concept. This concept under psychological theory then took an immense role in the story wherein it serves as the main reason of all the unhappy moments of the major character.The story revolves in the character of Dr. Leo nardo Quitangon, Lydia Cabading and her father, Pablo Cabading. The role of Electra complex in the story is a contrast of the real concept since it is the father whom we can vividly seen the said fixation. Pablo Cabading being the father of Lydia suffers Electra complex in which he became very zealous over looking to her.He even threatened to arrest young men who stared at her on the street, or pressed too close against her. The dictation he made towards Lydia had already trespass her personal life which negatively affects her. Thus, this story shows how Pablo Cabading had been affected Carl Jung’s concept of Electra complex and this is because of the closeness or intimate relationship he had with his daughter, Lydia.

Dow Chemical Case

Dow Chemical Case Question 1 Polyethylene is the world’s most widely used plastic. Polyethylene plastic’s principal application was in packaging, from trash bags to milk jugs. It was widely used in the manufacture of everything from trash bags, picnic cutlery and garbage pails, to plastic toys. Polyethylene also replaced glass, wood, and metal in certain applications. There were three types of polyethylene, Low-density polyethylene, High density polyethylene and Low linear density polyethylene. Polyethylene produced from ethylene. Ethylene is produced from oil or natural gas. Ethylene plants separated either naphtha molecules (derived from crude oil) or ethane molecules (derived from natural gas). The ethylene derived from this process was used to produce polyethylene. The critical success factors in this business were capital intensive and economies of scale. Polyethylene was a global commodity product and pricing worldwide typically fell into a narrow band. The demand for polyethylene was large because it was the world’s most widely used plastic and polyethylene customers were typically small and medium-sized plastic processing companies. The big Risks in the industry: * The raw material risk – Cracking naphtha (the raw material derived from crude oil) required much more energy, manufacturing intensity, and equipment than cracking ethane (derived from natural gas). Supply of primary materials and electricity are crucial to success of polyethylene production. * Cost risk – large plant sizes and the need for economies of scale rendered the ethylene industry highly capital intensive. A plant for cracking ethane was estimated to hundreds of millions and the cost for a plant for cracking naphtha is double. Capacity additions or reductions could significantly affect balance of supply and demand, influencing capacity utilization rates, prices, and profit margins. * Ethylene profitability was tightly links to its global operating rate. The ethylene business links to oil companies, governments, pure chemical companies, conglomerates, private investors, and joint ventures. * Competition of polyethylene industry in Argentina and in the global market. The government operator was directly or indirectly financing capital – intensive ethylene plants in order to stimulate downstream business. Some of countries, the government contribute the investment. * The margins for producers of ethylene and first-order derivatives (mostly plastics) were highly correlated because the producers for them were highly integrated. Question 2 The stages of the project: * Stage 1: involved taking control of PBB, which comprised the ethylene cracker and polyethylene plant, and then upgrading the facilities in order to make them internationally competitive * Stage 2: involved acquiring Polisur’s two polyethylene plants * Stage 3: involved building a new ethylene cracker and a polyethylene plant These three stages are closely related to each other. The next stage would be reached only if the previous stages achieved, and the followed stages ensure the success of the previous stages. Acquiring PBB offers Dow the opportunity to enter Argentina market, and this is the first step for Dow to take over control of Bahia Blanca’s polyethylene activities. Dow is bidding not only for PBB in the privatization, but also an overall plan for the development of Dow’s polyethylene business in Argentina. Dow will decide on the price to bid for PBB in the upcoming privatization, the price is based on the valuation of the entire project (stage 1, 2 and 3). The three stages are one big project. Dow’s bid for PBB should not be based solely on the value of Stage 1 of the project. Gaining control of PBB would be the first step in the project. But taking all the factors discussed above into consideration, Dow should value all the 3 stages in order to bid on the PBB project. Dow believed that it had the opportunity to become the number-one player in the Latin American polyethylene industry. To achieve this goal, Dow would also have to acquire Polisur’s two polyethylene plants (stage 2) and expand existing capacity. The expansion of its polyethylene capacity in Bahia Blanca would require the company to build a world-class competitive cracker (stage 3). Doing so would nearly triple PBB’s ethylene capacity. Therefore, Dow had to not only consider what to bid for PBB in the privatization, but also develop an overall plan for the development of Dow’s polyethylene business. Dow had to incorporate the terminal value of each stage of the project. Question 3: The followings are the arguments that support the acquisition of PBB: 1. The whole project will increase Dow shareholder’s wealth. As a public company, the first aim of the management team is to increase the shareholder wealth. The project proposed by the management team is definitely consistent with this goal. And bidding on the PBB is the first stage of the whole project. The exact increase in shareholders’ equity may be various at this point as it depends on lots of other factors ( we will discuss the risk of valuation thought the whole case. , but in general, the management team is confident in the future outlook. 2. The other important strategic purpose of acquiring PBB is that it is the first stage towards consolidating all Bahia Blanca’s polyethylene activity under Dow’s control. The 3-stage project will make Dow to be the leading company of polyethylene in Argentina, even in Latin America because of its MNC background. This will have a long term positive influence in Dow’s stock price as well as shareholders’ equity. 3. Also, as indicated in the case, the demand of polyethylene will increase in the next couple years. Argentina is an emerging market, which is facing a rapid transformation. Dow’s vice president anticipated continued improvement in standards of living, which will lead to increase demand for polyethylene in Argentina, as well as in Latin America. The expected growth in polyethylene demand made PBB a potentially attractive acquisition. 4. PBB right now is a government controlled complex which is going to privatize. For Dow, it is a perfect opportunity to build long term relationship with Argentina government. It will give Dow more opportunities in the market of Argentina and Latin America. Question 4: The followings are the mains risks of the project for Dow beyond the general industry risks discussed in Question 1: 1. Country risk. Argentina is an emerging market. It is widely agreed that when we estimate the risk of emerging market by using the traditional model like CAMP, the result also unfavorable. Some reasons are the market is highly concentrated and integrated. And also the country risk cannot be diversified. So it brings the uncertainty to Dow’s valuation. 2. Political risk. Political risk is part of country risk. It is identified as the potentially adverse impact a country’s environment has on a firm’s future cash flows. And it will affect Dow’s future expected returns and valuation measures. If there is some major political unrest in Argentina, the government expropriates PBB, Dow will face a significant loss. Also, if the Argentina government default on its debt, Dow would face the bad debt which is an huge cost and will drag down the expected cash flows. 3. Economics risk The privatization in Argentina was the progress to control the fiscal problems, like hyperinflation, stagflation and huge fiscal deficits. As an emerging country, Argentina had not developed a healthy financial market within the country. The unstable economy would lead to a huge possibility of default. Another possible aspect was the economics risk of the world. If there was an economics downturn, the huge investment of the project would worth less and Dow will facing difficulties to rise equity to finance the project. 4. Unexpected risk: (1) Unexpected shortage of energy. The industry is really energy intensive. If there is a energy shortage such as the decreased supply of oil, the whole project will face negative return. (2) Unexpected rise in variable cost, such as transportation cost. The unexpected rise in variable cost will have negative impact on Dow’s cash flow. The decrease of expected cash flow will lead the decrease value of the project. (3) There are 3 stages of the whole project. If one of them did not work well, the overall goal will be affected and the whole project would have the risk of failure. Question 5: Given in the case that Dow’s cost of capital for similar U. S. based projects is 10%, thus we chose to use NPV to evaluate the different stages of the project, by discounting each year’s expected cash flow (Exhibit 9, 10 & 11) to the base year-1995. Stage 1 Valuation Given in the case, Dow is bidding on the sale of 51% of PBB, therefore, if we calculate the Present Value of the cash flow, Dow should get 51%. Dow’s total investments for PBB Ethylene cracker and PBB Polyethylene cracker between 1996 and 2000 are $128. 9 million and $28 million in Exhibit 7 from the case. If we compare these figures with Exhibit 9A & 9B investment numbers between 1996 and 2000, they are the same (shown in Table 1); this means that the cash flow of PBB in exhibit 9A is the cash flow after only deducting the investment from Dow. So, we add back Dow’s investment to get the actual cash flow of PBB. Since Dow’s share in PBB is 51%, it gets 51% of PBB’s cash flow and we discount the cash flow. Next we calculate the sum of Present Value of Dow’s investment in each year, and subtract it from Dow’s 51% share in PBB. This number reflects the actual net cash flow been distributed to Dow. The followings summarize the steps of the thinking process: Step 1: Add back Dow’s investment to PBB’s cash flow, this gives the total future cash flow to be distributed among Dow (Dow owns 51% of PBB) and other owners. Step 2: Find the PV of total future cash flows Step 3: Distribute the 51% of the PV of total future cash flow to Dow Step 4: Deduct PV of Dow’s investment from Step 3 The value of Stage 1 is $345. 71 million as shown in Table 2. Stage 2 Valuation In Stage 2, we took polyethylene CFs directly from Exhibit 10, and discount them by appropriate discount rate, and summing up these PV of the cash flows we get the value of Stage 2, $399. 76 million. Another point worth mentioning is the calculation of the terminal value in 2010. Given in the case, the growth is 3. % constant for the project, we took the cash flow in 2010, which is $82 million; multiplied it by (1+g)/(k-g), and discounted it by 16 years to get the present value. Stage 3 Valuation Stage 3 involves building a new ethylene cracker and a polyethylene plant. We summed up the total cash flows of them and find PV of the cash flows in each year. The total of all the PV of the cash flows is the value of Stage 3, $ 993. 69 mill ion shown in Table 4. Now we have the value for each stage, and we get the total of the project, it is worth $1739. 16 million with the value of Stage 1, Stage 2 and Stage 3 are $345. 1 million, $399. 763 million and $993. 690 million respectively, under the assumption that each stage is successful just like Dow has planned. Question 6: There are two ways to do Discounted Cash Flow analysis in an international context. We can adjust the discount rate by adding a country’s political risk premium or, adjust the cash flow of the project. In this question, we will discuss the appropriate method of the project’s discount rate. In a country, the higher risk that investors perceived, the higher discount rate that should be applied to the project’s cash flows. The risks we are talking about are not diversifiable. Since November 1995, the Convertibility Law tied the peso to the U. S. dollar, even thought the market thinks the fixed exchange rate would last for several years, but as the executives of Dow, Virgnar and Marcer need to consider the possibility of future crises. Uncertainty about future currency thus will increase the discount rate of project in Argentina, which means that Dow’s cost of capital is increased. Possible impact of government policies relevant to foreign investments is another issue, example increased tax rate. This will leave Dow with a lower investment return than before. In practice it is often difficult to quantify the likelihood and impact of political risk on international investments; given US and Argentine Yields in the case, we can adjust the discount rate by adding the sovereign yield spread between U. S. and Argentina. The idea is that the bond spreads between two countries with same maturity reflects country risk. The country with the higher yield in this case is Argentina; it offers approximately 10% more than the U. S’ yield shown in Exhibit 12. The reason behind that is Argentina has a higher country risk than U. S. , so it has to offer a higher yield in order to compensate the investors for taking additional risks. Therefore Dow should take these additional risks into consideration when evaluating the project. The adjusted discount rate for the project should be 20%, 10% ( cost of capital for similar U. S projects from Q5) + 10% (Argentina’s country risk) and this change in the discount rate will have a big impact on the value of each stage in the project which we will examine later. There are two major advantages of adjusting the discount rate by adding the sovereign yield spread. One of the advantages is the countries’ bond yields are easy to find, observe and access, investors can easily calculate the country risk by subtracting the two bond yields. Another advantage is that the yield of bond is forward-looking, it does not only incorporate today’s condition, also the yield reflects the market’s future expectation of a country’s risk and return so it is a good representation of cost of equity in a particular country. Salomon Smith Barney model is similar to the model that we just described, but with additional inputs and refinements. If we have more information from S&P country sovereign ratings, country ratings, and macro variables, we could adjust discount rate for the project more accurately. Furthermore, the political risk premium that we can add to the discount rate can be scaled up or down based on subjective scores for Dow’s access to capital, susceptibility of the project investment to Argentina’s political risk and the importance of the investment for Dow. Therefore, the more relevant information we have, the more accurate discount rate we can construct to help evaluate the project. Question 7 The calculation process for is basically the same as in question 5, except here we use the cost of capital 20% instead of 10% to discount expected cash flow. Calculation shows in Table 5 (in Million U$). The project worth is $464. 734 which about only 20% of the project value if it located in US. The largely decrease in project value is due to the higher country risk in Argentina than in the US. The higher country risk was reflected in the higher discount rates which lower the present value of the cash flow. In stage 1, the present value of expected cash flow (CFs) is 160. 32 which is 54% lower than the stage 1 value in question 5. The percentage of decrease is lower than the total project value’s decrease, since most of the value in stage 1 was generate from early years cash flow. The country risk in the short run is lower than in the long run. Because in the long run there are more chances for uncertainty events to happened. In stage 2, the present value of CFs is 194. 81 and it is 51% lower than the project value in US which also less than the percentage decrease of the total project value. And this is due to the same reason as in stage 1. In stage 3, the value is $109. 837 which is 89% lower than the question 5’s value. The significant decreasing value is due to the value of stage 3 is mainly from terminal value. Since there are higher country risk and more uncertainty in the long run, stage 3’s long run cash flows ( include terminal value) are heavily discounted which lead to low present value. Question8 Dow should bid for PBB no matter the project is in US or Argentine, since the total project values and stage 1 values are both positive in these two countries. Because Dow is an American company, the shareholders care about the US returns. The Project cash flows and stage 1cash flows are discounted by the cost of capital in US and get positive present values, which mean the PPB will increase Dow’s shareholder wealth. To determining how much Dow should bid, the company should aware that there are some requirements made by the Argentina government. First, the government set the minimum accepted price is 150million U$, which is the lowest range for Dow’s bid. Second, the government requires the bidder to have a statement of net worth of at least 5 billion U$. While, Dow has two other competitors Copesul and Perez also want to bid PPB. However, Copesul only has net worth $929,538,000 and Perez has net worth $1,461,000,000. Even if Copesul and Perez combine to bid PPB, their total net worth around $2,391,000,000 will be smaller than the $5 billion requirement. Therefore, Dow should not been threatened by Copesul and Perez’s bid, and they should not affect Dow’s biding strategy. Therefore, for the bidding price: Value of the bid= Value of (stage 1+2+3)-cost of PBB- cost of Polisur The cost of stage 3 is already included in the value of stage 3. In question 3, we obtain the Value of (stage 1+2+3) equal to$464. 734 million. Since the Value of the bid>0, then cost of (PBB+ Polisur) < $464. 734million According to the government requirement, Dow could bid PBB for $150 million, then their higher range for Dow’s bid should be $ 314. 734 million ($464. 734million- $150 million). Table 1: Table 2: Table 3: Table 4: Table 5:

My Criminal Behavior Survey

1. If research were to significantly indicate that the tendency to commit crime is inherited, what should be done about or for the children of violent criminals? If research were to indicate the tendency to commit crime is inherited it would change our government significantly. A huge upheaval regarding rights of the citizens would take place. In foreign countries (population control) would be the only answer to control tendency from literally controlling the population. Children of violent criminals should be placed with family members whenever possible.Children may also need some type of therapy. Programs should be set up to monitor these children. Over the past century it has been cropped that the debate of nature verses nurture is an issue. 2. What programs should society implement and why? Programs should be implemented for our children’s needs. Children may need help from psychiatry and a social worker to help them with their problems. Our children’s needs should be kept in mind at all times to teach them good things in life. Children should be educated on how to live a better life, a crime free life.Programs to promote sports and self-confidence for children teach them how to have a better life. Our children deserve a good life. 3. What would be the social, policy, and ethical implications? Social and policy implications would be the guidelines, activities and principles that affect the living conditions of human welfare. They deal with the social issues within the public. Ethical implications would be the mortality that is implied by social issues and the policies. The ethical implications may be that children may follow in their parent’s footsteps. References www. google. com www. chacha. com www. weegy. com

EU&Middle East Essay Example | Topics and Well Written Essays - 3000 words

EU&Middle East - Essay Example â€Å"According to a recent Euro barometer poll, only one third of people in the UK feel both British and European, while two thirds think of themselves as being just British† (Figel, p.3). Jean Monnet, one of the main founders of the European Union, agrees that the cultural differences impede the EU integration; â€Å"If I could seize a fresh opportunity for the political integration of Europe, I would start from culture and not from the economy† (Dudt, p.3). There are many several different religions in European countries, including Roman Catholicism,  Orthodox Christianity, Protestantism,  Sunni Islam, Shia Islam,  Judaism and Buddhism. All of these religious entities are different in terms of their traditions, beliefs and ideologies, which has a great influence on the cultures and lifestyles of their followers. Roman Catholicism is the largest religion in Europe, with followers mostly in the countries of Latin Europe and Eastern Europe. Orthodox Christians are heavily populated in Rumania, Bulgaria, and Greece whereas Protestant Christians are found mainly in countries of Western Europe, including Denmark, Germany, Finland, Sweden etc. Despite these extreme cultural diversities, most of the European countries were able to assemble under the flag of EU, what enabled them to increase both the national economic growth and their bargaining power in the global trade activities. The countries of the Middle East, especially the Arab States of the Persian Gulf (Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain and Oman), are traditionally goof trading partners of Europe. The Gulf Cooperation Council, a political and economic union which involves all the Gulf countries, is the EU’s fifth largest export market and the European Union is for the Gulf region the second most important trading partner (Gulf region, 2010). The statistics from 2009 reveal that the total EU trade with the Gulf cooperation council amounts to 79.7 billion eu ro. The EU’s Generalized System of Preferences (GSP), which provides developing countries with reduced tariffs for their goods when entering the European market, enables all six Gulf countries to benefit from preferential access to the EU market (Gulf region, 2010). With the EU exports of goods to the Gulf region estimated at 57,8 billion euro, and EU import of goods estimated at 21.8 billion euro, both regions have developed an important economic partnership. Figure 1: GCC, Trade with the European Union Source: GCC, EU Bilateral Trade and Trade with the World, 2011. Figure 2: EU Trade with the World and EU Trade with the GCC (2009) Source: Source: GCC, EU Bilateral Trade and Trade with the World, 2011. Trade relations between the European Union and the Middle East, mostly Gulf countries, are affected by several economic, political, and cultural factors. This paper analyses the success and failures of EU’s trade tie ups with Middle East over the years. The trade relati ons between the European Union and the GCC date back to the mid-1980s. In1988, the two organizations signed the EU-GCC Cooperation Agreement, which aimed â€Å" to strengthen relations between the European Economic Community and the Gulf Countries, to broaden and consolidate their economic and technical cooperation relations, and to help strengthen the process of economic development and

Justice Antonin Scalia and the Doctrine of Original Intent Research Paper

Justice Antonin Scalia and the Doctrine of Original Intent - Research Paper Example What originalism is and the advantages of originalism as compared to other methods of constitution and statutes interpretation. He has also given reasons as to why he chooses to use the method of originalism over other methods which still prove to be efficient. Original intent is used in law as a theory that defines how the constitution and statutes should be interpreted. Original intent implies that when interpreting any text, the authors intent on that particular text, should first be determined so as to accomplish the purpose of that statute. Original intent assumes that a particular text has only one intended meaning (Scalia 23). Theoretical debates on the adjudication of the constitution have been there for a long time. There are all types of advocates who give different methods of interpreting statutes as well as the constitution and how the courts ought to do and what they ought not to do. Originalism is a method that has proved quite dominant in America (Levy 342). This metho d has been well embraced by Justice Antonin Scalia. Who is seen to fully embrace this method and further gives long justifications to help support the originalism belief. Justice Scalia Antonin insists that Original intent determines the meaning of the constitution. ... Scalia advocates for textualism with exceptional rigidity. Textualism refers to having statutes interpreted based on its normal meaning. Other critics say that textualism is more of political. All the same Justice Scalia Antonin appears to be more conservative as is evident in his service at the Supreme Court. Scalia agrees that text that is statutory is not necessarily inherent liberally neither inherently conservative as that depends on who wrote it. Originalists say that reading strictly of any text can only be found by giving an interpretation of the constitution by using the original intent of that particular constitution. Justice Scalia opts to use an originalism theory that is softer, that is to say, interpretation should be made based on the time of constitution adaptation. Scalia feels this is much stricter as compared to allowing attempts by Justices to decipher author’s intent. Textualism is what Justice Scalia advocates for since he believes that Intent ruling is a s ambiguous as a living constitution. He believes this allows greater discretion as compare to other methods of interpretation. According to the conservative originalists, rights are those made via the democratic process and written constitutionally together with its amendments. Justice Antonin Scalia does not quite agree with the living constitution idea or even agree to give power to the judiciary to even modify the constitutional. This means that Scalia’s originalist method is more of statutory interpretation of the text than the living interpretation of the constitution. Believing that the normal meaning of the statute should facilitate for

Strategy Formulation for the Long-Term Care Facility Research Paper

Strategy Formulation for the Long-Term Care Facility - Research Paper Example The formulation of strategies needs to be implemented in the association. This is to guarantee that they are executed effectively. The implementation guides the manner in which the organization creates its discussions, actions, and decisions. In the U.S., there have been long-term care facilities that have come up in the past. They are there presently to serve the citizens who might be too old to cater for themselves. Their presence has enabled old people to get cared for even in their old age (Williamson, 2009). This paper will look at one such organization, and its strategic planning in the long term of caring for the old. Veterans Affairs (VA) is a United States government funded project that is present to cater for the needs of veterans. The project was started to ensure that post-war heroes got the attention they needed after serving their time in the military. Its main function is to provide for institutional and non-institutional based care for all veterans. Institutional base d care is the kind that involves taking care of them while in nursing institutions. In the non-institutional based care, veterans are provided for and taken care of in their own homes (United States General Accounting Office, 2003). In a brief overview of their strategic formulation, it is pertinent to note that any organization needs a strong, if not perfect, budget plan to get proper funding. In the VA Organization, the cover they receive from the government needs to be outlined, and accredited. This is in order for them to realise and attain their targets through this funding (Williamson, 2009). The formulation of strategies needs to be realistic in order for them to get the response they require. In the event that the initial cover does not help realise their targets, they can ask for supplementary capital from the committee in charge of their affairs. Their strategic formulation is based on workload performance. Workload projections are what help the organization prepare a suff icient enough budget for its operations. The labour that is used to cater for the needs of veterans needs to be catered for in terms of financial security. The labour they provide enables them to get attention from the government in order to perform their functions effectively. The amount of care provided is crucial in the formulation of these strategies (United States General Accounting Office, 2003). In light of all this, it is vital to note that the growth of the VA is based on labour provided by the care-givers. One strategic formulation they consider is the proactive response they require to their immediate surroundings. The evaluation that is carried out in the organization on the grounds of maintaining the health of veterans is crucial in the running of the organization (Bascetta, 2003). It is keen on spearheading the maintenance, and awareness of good mental, physical, and spiritual health of veterans. The maintenance of healthy surroundings is a way of ensuring that they re ach some of their goals. A goal based on creating a sustainable environment for all veterans present in nursing homes, or private homes. Long-term care services provided by the VA Organization are instructed by management, and the government. This ensures that every veteran gets the required care by the care givers employed by the VA Organization. The workload strategies that the organization has for its operations are very significant. These may help the organization in a number of ways. In one of those ways, the organization can cater to everyone at the VA society. Some of the alternatives it has in place are also aimed at ensuring the growth of the organizati

Financial Reporting Essay Example | Topics and Well Written Essays - 1500 words - 1

Financial Reporting - Essay Example Each major purpose of accounting often requires a different way of presenting or reporting the information in the accounting system. In this scenario, it may be emphasized that it is a vicious circle in that there are managers in organizations who affect accounting and such accounting in turn affects people's behaviour. The impact of accounting reports on the decision making behaviour of business, government and creditors is termed as the 'economic consequences' and the world has seen the worst of such consequences because of the bad reporting as in the case of 'Enron Corporation'. It may also be observed that such external reporting had given rise to the preparation and presentation of consolidated financial and non-financial statements. Several arguments have been flowing around about the very purpose behind the merits and demerits of such consolidated statements. In this context, this paper attempts to draw an overall picture of the position of the consolidated statements in relat ion to decision making by the stakeholders vis--vis the presence of the consolidated statements as a deterrent factor to have a clear understanding of the decision making process. "Management wealth, it is argued, is a function of changes in share prices (via stocks and stock options), and changes in cash bonuses (via compensation plans). Ordinarily, managers are predicted to have greater incentives to lobby for accounting standards that lead to increases in reported earnings and thereby management wealth." (Markus J. Milne) It is more than normal that managers indulge in enhancing the reported earnings to strengthen their positions in the organizations higher echelons. Positive Accounting Theory studies the manager's accounting policy choices as part of the overall process of corporate governance. Under this theory Positive rather than Normative accounting policies are chosen strategically. 3.0 REASONS FOR FIRMS TO ADOPT CONSOLIDATED FINANCIAL REPORTING: This part of the paper analyses the various reasons why a firm may decide to resort to consolidated financial reporting. The decision may be partly due to the statuary obligations placed on the firm and partly on the managers' decision to go with the publication of consolidated statements. Statutory Regulations as a reason for publication of consolidated financial statements: Earlier studies (Whittred 1986, 1987, 1988) concluded that the regulations did not have much impact for the firms to resort to consolidated financial statements, whereas the contracting cost variables were the major determinant for publication of consolidated statements. However later it turned out that Regulations did play a major role in compelling the firms to adopt publication of consolidated financial statements. "The introduction of tax legislation permitting the presentation of consolidated returns seems to have been a significant factor in widening the profession's awareness of

The future of the US Dollar Case Study Example | Topics and Well Written Essays - 1000 words

The future of the US Dollar - Case Study Example Since the start of the crisis, economists argued that its impacts have damaged the dollar’s status across the globe. Following the crisis, there has been a lot of negative talk about the dollar. Additionally, conflicting views regarding the path of dollar have emerged. Though a considerable number of nations are still using the dollar as their exchange-rate anchor, there are arguments that the U.S. dollar might lose its position as the main reserve currency (â€Å"General Assessment of the Macroeconomic Situation†Ã‚  2009). Investors went ahead and revisited their currency reserve investment. This was due to the downward trend of the dollar in comparison with other currencies. Therefore, the dollar has been experiencing great pressure from major investors mainly due to the inflations that have occurred since the dollar became the world’s reserve currency. This paper is a critique of Warnock’s article Global Asset Allocation: Whither the U.S. Dollar? The pa per will analyze the authors’ perspective on the U.S. dollar, describe three of the most powerful arguments towards a stronger/weaker dollar, and give my opinion regarding the authors’ prospects for a stronger U.S. dollar. 1) Critique of the author’s perspective on the U.S. ... Warnock (2010) argues that though foreign central banks might start diversifying away from the dollar, this does not mean that the dollar is losing its position. This is an indication of overconfidence, given that the dollar is increasingly becoming less popular across the globe. Additionally, there has been worrying increase in inflations, which depict that the major economies will intervene. An intervention would mean possible replacement of the dollar with another currency (Chandler, 2009). a) Describe three of the most powerful arguments towards a stronger/weaker dollar.   There are several arguments towards a weaker dollar. Warnock (2010) argues that U.S. dollar is not in any danger of being displaced as the world’s reserve currency. They claim that the U.S. treasury bonds continue being the cordial and liquid fixed income market globally. This thus continues to enhance the demand for the dollar. The authors give an example of continued success of the dollar performance in the fall of 2008 when most currencies and assets decimated (â€Å"The Euro as an Anchor Currency and Core of a Currency Bloc,† 2012) The next argument is that the U.S economy remains the most competitive economy in the world. Although most critics argue that the U.S economy is still facing decline in domestic production, Warnock argues that U.S. is still the world greatest manufacturer. He refutes claims that China’s economy is outdoing the U.S economy (Warnock, 2010). The other argument is that the U.S trade deficit has been exaggerated. According to Warnock (2010), much of the trade deficit is because of overseas movement of goods and services which has happened within U.S. companies. The exchange is between U.S based

Report on the UK Petrol Market Coursework Example | Topics and Well Written Essays - 1000 words

Report on the UK Petrol Market - Coursework Example Even the retailers of petrol have declined drastically owing to this wave of competition. The fall in petrol prices is also attributed to the increased competition among dealers of petrol in the UK. But there is a notable difference in prices between the rural petrol outlets and the urban ones. This could be justified by the additional costs of distribution and the low volume of sales in the rural areas (Harrison, 2011). Objectives of the Report To explain the meaning of ‘opportunity cost’ and ‘substitution’ To show how the concepts of ‘substitution’ and ‘opportunity cost’ could be used to analyse the changes in the equilibrium price in the UK petrol market. The concepts of Substitution and Opportunity cost Opportunity cost is the value of the next best forgone alternative. It results because of the scarcity of resource required to meet people’s needs. For example if one has $100, they can buy either a book or a watch. If the y choose to buy a book, then the benefit they could have enjoyed if they had bought a watch would be an opportunity cost (Samidi et al., 2008). Opportunity cost can also result if as a result of price increase, the quantity bought reduces. For example if before price change a 100 litres of petrol at could be bought at$4,000 but only 80 litres could be bought with the same amount of money. In this case, the value of the 20 litres that is forgone after the price increase is an opportunity cost. This scenario also shows a substitution effect which is the difference between the quantity bought before and after the price change (Duguid, 2005). Substitution also results in a case where one is making a choice between two substitutes such as wheat and rice. If the price of rice is increased, the consumption of wheat is likely to be increased. Therefore, the difference between the quantity of wheat consumed before and after the price increase of rice is termed as a substitution effect. Equil ibrium Price in the UK Petrol Market The figure below shows the changes in shifts in the equilibrium position as a result of the changes in the price of petrol. The X-axis represents the quantity of petrol while the Y-axis represents the Price of petrol (per Litre). X0, X1 and X2 represent the various equilibrium positions. Q0, Q1 and Q2 represent the litres of petrol bought at various prices. D0 is the demand of petrol while S0, S1 and S2 are the supply the supply curves. The Graph of Volume of petrol and its Price per litre                S1                                                                                  S0                                        X1                Pe1                      S2 Price per Litre       X0             Pe0                                                                X2          Pe2                                                                         D0                                                                                              Q1 Q0 Q2                      Quantity (Litres)             Figure 1: Petrol Market Discussion The initial equilibrium position (where the supply curve, S0, intersect with the demand curve, D0) was represented by X0. At this equilibrium position, the consumer was able to buy Q0 Litres of petrol at a price of Pe0 per Litre. But if the price of petrol was increased to Pe1 per Litre, the consumer has to reduce the quantity consumed to Q1 litres from Q0 litres. The reduction of Q0-Q1 Litres is the volume of petrol forgone by the consumer owing to the price increase by P1-P0 dollars. The value of the foregone Litres of petrol is an opportunity cost which the consumer has

Kant philosophy Essay Example for Free

Kant philosophy Essay For this case, I will be using Kantian ethics to pinpoint the rationally correct action to take. Before discussing Kantian ethics in relation to the case, we must first explore what Kantian ethics is. Kantian ethics comes from the deontological school of thought, which focuses on the moral correctness of the act in itself (Johnson, 2013). This means that the judgment on the act is done a priori. This is contrasted to the consequentialist school of thought, which focuses on the results of an act as the factor that would qualify the rightness or wrongness of an action (Sinnott-Armstrong, 2012). A consequentialist would make a judgment on an act a posteriori. Kant utilized a concept called the Categorical Imperative, which states that that which is moral is that which is rational (Johnson, 2013). Therefore, a moral act is one that follows from a rational agent. An immoral act, as it follows, is that which is irrational (Johnson, 2013). Another significant factor to consider in Kantian ethics is that the most important value that they seek to preserve is autonomy. Contrasted to a Utilitarian, a Kantian would promote autonomy rather than happiness. The Categorical Imperative contains three main elements. One element of the Categorical Imperative is the formula of universalizable maxims. The formula of universalizable maxims states that a right action is that which can be universalizable (Johnson, 2013). The question here would be: would an action be acceptable if everyone did it? To test this, a person would need to imagine a twin world wherein that action is the norm for everyone. Then that person would need to see if such a world is conceivable and rational. Another important factor for this experiment would be to see if the universalized act would inhibit other people’s freedom. If the universalized act or maxim doesn’t infringe on other’s freedom then this act is acceptable (Johnson, 2013). Another element under the Categorical Imperative is the Humanity Formula. This concept states that humanity is a means in itself and should never be treated merely as a means to an end (Johnson, 2013). This means that each human being must be respected because he or she has his or her own inherent autonomy and dignity (Johnson, 2013). This formula stipulates that a person may not be manipulated by another as a means to achieve a particular goal. Realistically, though, you cannot help but use people as means to an end (Johnson, 2013). This happens everyday, for example, when we use shop clerks to purchase food. In this example, we are using the shop clerks as a means to get the ends, which is food. The reason as to why this particular case of using a person as a means to an end is acceptable is because of the idea of consent. A shop clerk has freely chosen to pursue his or her own line of work and this entails being a means through which people can purchase food. Thus, the shop clerk consents to being a means to this particular end. The third element under the Categorical Imperative is the Kingdom of Ends Formula. This formulation states that an agent exists in a community that is made up of equally rational agents who have just as much say in the maxims that become universalized (Johnson, 2013). The universalized maxims become the law and every agent in this community agrees to conform his or her actions to the law. B. DISCUSSION OF CASE For this particular case, we are dealing with the maxim of taking cognitive enhancing drugs to increase productivity output. If we were to test this particular maxim using the formula of universalizability, we would have to imagine a world wherein every person would do this particular action. In this world, everyone would use cognitive enhancing drugs to meet deadlines or to finish their work faster. In the face of stress, instead of overcoming the obstacle through the person’s own hard work and will, he would only merely need to pop a pill. As mentioned in the case, this kind of accepted behavior could create a new kind of neuro-society. This new neuro-society would be filled with people popping pills like Adderall or Ritalin to focus on their work on hand. There is essentially nothing wrong with increasing the ability of a person to focus on a particular task. The downside of this kind of society would be that it would become a society of drug dependency. Designer drugs like the ones previously mentioned would act as a quick fix for people. Instead of relying on their own wills and capacities, people would be relying merely on the drug to be able to produce an output. This dependency goes against the value the Kantian holds above everything else: autonomy. By allowing a drug-dependent society to prosper, we would be limiting our own freedom by slowly becoming more dependent on drugs. In this world where using cognitive enhancing drugs is the norm, imagine if the drug would suddenly be taken away. People would not know how to focus or get their work done without the drug. In the face of stress, people wouldn’t know how to act since they have lost the drug that previously did all the work for them. This is because they supplemented their own shortcomings with the drug instead of developing themselves into becoming fully functioning and autonomous adults who could deal with their problems. This maxim being universalized would stunt our own development and would, in turn, create an infantilized society. This thought experiment aims to show that the maxim of using cognitive enhancing drugs does not pass the test of universalizability. Secondly, in this world with this universalized maxim, the using of cognitive enhancing drugs may become a norm not only for college students or adults, but also for children. Children are vulnerable in the sense that their autonomy is still limited. Because a Kantian would uphold autonomy as the most important value, he or she would feel an obligation to protect vulnerable parties who have limited autonomy. In this world, there may be over-achieving parents who want their children to be competitive in the world of academics. If the using of cognitive enhancing drugs becomes the norm, then these kinds of parents might try to get their children to take these kinds of drugs to get ahead in their studies. A Kantian would see that the children must be protected from these kinds of actions since they cannot utilize their autonomy in the full capacity. Another point for this argument is that if children are put on cognitive enhancing drugs from an early age, then they will grow up never knowing what it is like to function without these drugs. Furthermore, they will become extremely dependent and they will never be able to realize their own full potential and capacity. This means that their autonomies will always be somewhat limited. Therefore, a world wherein cognitive enhancing drugs are the norm, not just for adults but also for children, must be avoided. Therefore, based on the twin world test, the use of cognitive enhancing drugs should not become a norm since it creates a dependent society and it creates an opportunity for vulnerable parties to remain vulnerable and never reach their full autonomies. Thirdly, another reason as to why this particular maxim would not be acceptable for a Kantian is because it goes against another element of the Categorical Imperative: the Human Formula. As previously stated, this formulation asserts that humans should not be used merely as means to an end. This formulation includes disallowing agents in using themselves as a means to an end (Manninen, 2006). The act of taking cognitive enhancing drugs reduces the person to merely a means to an end. Instead of respecting one’s own capacity to achieve one’s full potential, a person merely reduces himself to something akin to a machine that will produce output in the quickest way possible. Instead of the person using his or her own capacity in facing the challenge, the act of using a cognitive enhancing drug will circumvent the process of self-development and will skip the opportunity for personal growth. In this manner, the person will accomplish the short-term goal of churning out an output without actually developing his or her own talents. As noted in a journal article by Manninen (2006), when drugs are treated as a miracle solution to the stressful emotions an agent is feeling, this stops the agent from growing and overcoming the stress by himself or herself. This sacrifices an important aspect of being human: the capacity to engage in personal development. This stunts personal growth and, in turn, society is left with people who do not know how to deal with problems by themselves. Instead, they turn to using drugs as an emotional crutch. In conclusion, we see how a Kantian would view the maxim of using cognitive enhancing pills in response to stress or a heavy workload. Since the most important value for the Kantian is autonomy and the development of this, he or she would see this maxim as something that limits and stunts autonomy. Therefore, to make this maxim into a universalized law would be irrational. In my opinion, I think that Kantian ethics did pinpoint the morally correct response in this case. This is because the using of cognitive enhancing drugs would reduce the agent to a mere means. This is not morally correct since human beings are not mere means nor machines but rather rational agents who deserve respect and the chance to grow. References: Johnson, R. (2013). Kant’s Moral Philosophy. In E. Zalta (Ed. ), The stanford encyclopedia of philosophy. Retrieved from http://plato. stanford. edu/entries/kant-moral/ Manninen, B. A. (2006). Medicating the mind: A kantian analysis of overprescribing psychoactive drugs. Journal of medical ethics, 32(2), 100-105. Sinnott-Armstrong, W. (2012). Consequentialism. In E. Zalta (Ed. ), The stanford encyclopedia of philosophy. Retrieved from http://plato. stanford. edu/cgi-bin/encyclopedia/archinfo. cgi? entry=consequentialism.

The mechanics of pipeline reeling

The mechanics of pipeline reeling An Insight Into The Mechanics Of Pipeline Reeling Abstract : Written here is a paper devoted to the mechanics of pipeline reeling. It contains an initial background into the various techniques used for rigid pipe lay, as well as a brief insight into the vessels used. The mechanics of pipeline reeling is discussed in detail, with the effect of pipeline ovalisation as well as a detailed understanding of the moment/curvature response and D/t ratios being defined. An insight into the material selection stage is given, before introducing one to the Recommend Practice for flaw control, involving Engineering Critical Assessment (ECA) as well as specimen testing. Finally the paper will be rounded off with an insight into future concepts and studies being carried out by the industry. 1. Introduction The aim of this paper is to address the mechanics of the ridged pipe reeling process, as used frequently in the offshore oil and gas industry. The use of pipelines to transfer goods or product is highly proven, having been utilised since the late 20th century where the potential for oil was first realised. The relentless demand for oil meant that the need to look past existing onshore reserves was realised, with experimentation into the offshore environment inevitable. Today, pipelines are considered to be one of the most economical ways to transfer petroleum products such as oil, gas and water, in large quantities and over vast distances both reliably and safely. The steady growth of the oil and gas industry ensures that boundaries are constantly widening regarding pipeline installation, with ever-greater challenges of water depth and location becoming apparent. Pipelines are highly versatile in this respect, aided greatly by the many devised pipe lay methods. The J-lay, S-lay, and reel barge allow installation of rigid pipelines in a vast array of different water depths, at different lengths and speeds. The reeling method of installation differs from the others in that it puts the pipe under reverse plastic strain deformation, resulting in increased potential for enhancing induced defects. This lay technique will receive the majority of report analysis. Reel lay of rigid pipelines is now a well-proven method of installation in the offshore environment. The issue of fracture control due to plastic strain under installation is generally very well understood, indeed to such an extent that it is already well standardised for both actual pipeline design and the treatment of fracture control during plastic deformation. These standards take the form of the DNV RP-F108 and DNV OS-F101 respectively. Whilst fracture itself in todays offshore pipeline installations is now unheard of, ductile tearing does indeed occur, especially in laboratory and finite element testing. There also appears to be no recent published accounts of in-service leaks as a result of fabrication flaws to date. An attempt will be made to analyse and understand these relevant topics through the mechanics of pipe reeling. As a final aspect to the report, an insight into future aspects regarding rigid pipe reeling will be given. As an example, flaw tolerances due to the introduction of new pipeline materials and the ever-increasing exposure to H2S (sour service) environments are known to cause material stress cracking. 2. Pipeline Installation And Field Overview Offshore pipelines come in many different forms, dependant on their location in the field. The further downstream they are located, the larger their potential diameter as more flow streams connect. Pipeline design is dependant on the findings of 3 main stages of design, namely conceptual, preliminary and detail engineering. Within the first stage the concept is evaluated for feasibility and all restraints are identified. Preliminary engineering focuses on the defining of the project parameters and goes into enough detail to order the pipeline. The final detail engineering breaks everything down to the finest detail for submitting as work tender to the client. Improved welding techniques, survey capabilities, anchor handling techniques and procedures have all helped contribute towards more fast and efficient installations. The main loading considerations during pipeline installation are hydrostatic pressure, tension and bending. Three main lay methods exist for the installation of offshore pipelines. These are the J-lay and S-lay methods, as well as the technique of reeling. S-lay/Steep S-Lay The S-lay pipelay configuration offers the ability to install pipeline in typically shallow to intermediate water depths. It gets its name from the ‘S shape, formed from the overbend at the vessel stinger to the sagbend before contact with the ocean floor. This can be seen in the following Figure 1. S-lay of pipeline involves a normal or semi submersible vessel with an attached stinger. The stinger, used to minimise curvature and thus bending stress, supports the pipe as it is being offloaded, housing rollers to allow smooth movement of the pipe as it moves off. Tension is typically provided in the form of track loop deck tensioners, and varies depending on waterdepth, submerged pipeline weight, departure angle and sagbend and overbend curvatures respectively. A ‘firing line is installed on the vessel, containing the welding stations and relevant inspection stages for pipeline assembly. S-Lay is ultimately limited in deeper waters due to tension capacity and thus high overbend strains. As water depth increases the stinger length required becomes unfeasible, with more buoyancy being required to support the longer pipe length for the steeper lift off angle. J-lay The J-lay configuration allows for the installation of rigid pipeline in water depths of over 500ft. The term ‘J comes from the shape the pipeline takes up during the lay, as seen in Figure 2, below. The J-lay method works via the use of a barge with an installed tower, used to provide the required vertical drop and lower the product. Due to its configuration, the J-lay method requires no stinger and thus overbend stresses are eliminated and lay tension is reduced. The setup typically suffers from slower productivity than a comparable S-lay due to the vertical setup on the vessel. This can often result in the method being more cost prohibitive. It is however easier to utilise smaller vessels such as smaller barges and support vessels due to the relatively compact tower arrangement. Improved motion characteristics of the majority of J-lay vessels also results in lower dynamic pipe stresses. Reeling Reeling of pipeline is a configuration often utilised for offshore pipelines as well as catenary risers. It differs from the previous two installation methods in that the pipeline itself is first welded together and insulated as required, before being spooled onto a large drum on a reel lay vessel, all onshore. Upon loading the pipeline onto the reel, plastic strain deformation occurs. Once the lay vessel is in location, the pipe is then unreeled and straightened using a straight ramp, before being layed via either of the above J-lay and S-lay methods, typically dependant on conditions such as water depth and vessel configuration, namely horizontal or vertical reel. Throughout the lay, the pipe is tensioned and anchored to prevent sagging. Once complete a pullhead is attached to the tail end, before an abandonment cable guides it to the seabed, with an attached buoy used as a location marker. Reeling can typically be used for pipe diameters of up to 16†, as well as for pipe-in-pipe installations. As the pipeline is not being created during the lay, reeling offers the advantages of short installation times which can be particularly advantageous in short weather windows. Reeling of pipelines also tends to be more cost effective for this reason, offering the potential for better safety as well as a better quality product as a whole, that can be fabricated from exotic steels, coatings and internal liners as required. Weld joints can suffer from fewer flaws due to enhanced onshore inspection, often from Non Destructive Testing (NDT) via X-ray methods before the pipeline is reeled. A possible downside to the reel lay method is that the pipe radius tends to restrict the length of pipe layed, typically around 3 to 15km. Because of this, if the pipeline is made up of multiple segment lengths, connecting the set can prove challenging after their initial lay, and multiple segments being layed many miles offshore can result in undesired transit time. The pipeline also comes under plastic strain deformation, potentially resulting in ovalisation of the pipeline as well as affecting maintenance and monitoring of the product. Buckling can also occur, being time consuming to correct and due to the occurring deformation throughout the reel lay process, traditional coatings such as concrete cannot be used. Reeling Ships/Barges Typically, reel lay vessels often take the form of barges, as well as modified drillships and bulk carriers. Purpose built vessels also exist, examples being the 1978 CSO Apache pipelay vessel, seen below in Figure 3. Depending on the vessel configuration, reeling can be horizontal or vertical. Horizontal reeling is typically used with the S-lay configuration, with the vertical setup used mostly with J-lay. The CSO Apache vessel however, is an exception to this rule, being a vertical setup for use with S-lay. 3. Mechanics Of Pipe Reeling The pipe reeling method produces high levels of bending strain on the product, often just slightly below pipe shell buckling strain values. The primary concern is that because of this reverse plastic strain from reeling on and off, the pipeline is being ‘degraded, being downgraded below that of conventional J-lay and S-lay an so producing a greater failure risk. This, along with the aligning and straightening processes required, modifies the pipe material properties resulting in uncertainty to its performance. Pipe reeling also produces uncertainty with regards to burst, collapse, and fracture of the pipeline. Collapse in particular is directly linked with pipeline ovality, a result of the installation process. Despite all this it is fairly obvious that if plastic reeling strains were such a concern then we wouldnt be installing flowlines with them! The reality is that there is no reduction in performance provided that certain items are carefully considered during the design, procurement and fabrication processes. As an example, poor understanding can result in a greater pipe wall thicknesses, but with the reeling method now extremely well understood, to such an extent that there are detailed standards for it, there are nearly always relevant procedures to follow. Pipeline Ovalisation The method of rigid pipe reeling is such that the inducing of ovalisation to the pipe is inevitable. Ovalisation is the deformation of the pipe from a near perfect circle to an elliptical cross section due to plastic strain deformation. The challenge with such an installation method is maintaining an ovality that is within acceptable limits during the pipe lay. Ovalisation can be increased with bending and external overpressure and also decreased with bending and internal overpressure. It is a non-linear effect that greatly increases as the material reaches its elastic range. Ovality is strongly influenced by material properties such as rate of strain hardening, as well as the pipe diameter over thickness ratio, D/t and the reeling geometry configuration. Also of particular concern, is the relationship that a variation in material properties between pipes can bring, mostly over the required welded connections. The concept of ovalisation is not concerned with the materials yield stress itself but depends on the material yield anisotropy, that is the ratio of yield stress in the hoop to the axial direction. In order to ensure that the pipe does not collapse during installation, it is important to ensure ovality is kept within set parameters, as defined in the DNV-OS-F101 Offshore Standards. This is based around the characteristic resistance for external pressure collapse, pc and can be seen below in Equation 3.1. afab is the pipe material fabrication factor and is used for manufacturing processes that introduce cold deformations, giving different strength in compression and tension. The maximum value this can represent is a value of 1 for a seamless manufacturing process. This reduces to as low as 0.85 depending on the fabrication method used, for example the UOE bending, forming and welding process. The ovality value, fo is outputted as a percentage and from the DNV standards is not to exceed 3% in a reeling application. It is critical in the selection of wall thickness during design stages and must be of large enough value to take into account not only the expected ovality but localised peaks. Too large a fo value will result in a pipeline being of thicker wall thickness than required. When a pipe is bent plastically to a positive curvature (i.e. when spooling) and back again (coming off the reel), most ovalisation is recovered when the pipe is straightened. If too high an amount of ovalisation is still present however, then external forces in the form of rollers can encourage straightening, though this itself can be disadvantageous due to the potential to damage any linepipe coating. Ovalisation is disadvantageous for certain tasks that will be carried out throughout the pipelines lifespan, such as pigging and through flow line (TFL) tools. Pigging, a form of linepipe maintenance for cleaning and inspection, can be carried out without halting product flow by using the pressure of the flow to carry the pig from its launcher to its receiver. However as they are designed to fit snugly in a round pipe, excessive ovalisation would cause potential blockage or incompatibility. Moment Curvature Another aspect for consideration in order to gain a further in-depth understanding of the reel lay process is the relationship between moment and curvature during pipeline installation. The moment/curvature relationship is based round that of the pipes physical geometry, as well as the relationship of stress and strain in the material. An example of a moment/curvature diagram can be seen below in Figure 4. The pipeline is initially spooled onto the reel resulting in plastic deformation, and thus is taken past the material yield point (A) to the extent that the maximum installation curvature (B) is experienced by the pipe. This curvature will be dependant on the radius of the reel being utilised, with the radius increasing as pipe is overlapped. From its reeled state, the pipeline is transported to the lay destination for unspooling. It is unreeled to the pipeline aligner, a stage that due to the pipeline weight and applied back tension from the reel, results in reverse plastic deformation (C). With the pipe now resting between these two points, it sits visually straight in its span. Passing the pipe through the aligner of radius (E) and towards the straightener, bends it in the same direction to that is was initially spooled. The 3-point straightener itself exerts a further reverse plastic bend (F) on the pipe. Taking it slightly past its initial curvature results in it sitting physically straight on the seabed when all tension upon it is relaxed. The delivery state to the seabed location will correspond to the relevant standards as denoted in DNV-OS-F101. It is generally considered that the maximum moment to be sustained by the pipe during reeling will be around that of (B), with this moment being less than the plastic moment. This is due to the fact that at this point the bending behaviour of the pipe is stable and so buckle is unlikely to occur, with moment still increasing with curvature. The plastic moment at any point of the pipeline is a function of the pipes diameter, wall thickness and yield strength respectively, with the post yield strain hardening as well as the section ovalisation also playing a less extreme factor. One issue that tends to arise with pipeline reeling regarding moment and curvature occurs with the use of different pipe grades during production. When pipe is requested by a supplier, it is done so by grade. The supplier will create batches of pipe to the specified specification, but due to manufacture no two batches will be exactly alike i.e. some pipe will be weaker than others and vice versa. Despite all batches of pipe adhering to a minimum specification, the mismatched material specifications each react slightly differently during reeling, potentially resulting in high local curvatures and in extreme cases, local buckling. In the case of a pipeline being reeled, the moment required to spool a pipe onto the provided reel is provided by that of the following 12m section in line. Should this pipe be of weaker grade than the initial one, the potential that the moment will not be sufficiently supported arises, resulting in a localised increase in curvature, producing the greater pot ential for local buckling. D/t Ratio The pipe diameter over thickness ratio (D/t) is of high importance in pipe selection, being directly related to that of buckling. Typically, as the D/t ratio decreases the pipe can withstand a higher strain before buckling. However this comes at the expense of a large increase in ovality to the extent that it may go over desired limits, affecting such procedures as pigging of the pipeline. This can be seen below in Figure 5. Figure 5: Plot of Allowable Strain and Ovalisation at Allowable Strain As a further example to the relation to the D/t ratio to ovalisation, research carried out on pipe of API steel grade X65 gave the following results, as found in the following Table 1. Material Selection Material selection for pipelines is highly important for several different factors, and can determine the standards to follow and installation procedure. For a carbon steel for example, the requirements for a reeled pipeline are not that far removed from the requirements of national standards, but for other materials such as high strength pipe grades, careful review may be required. All materials require a certain level of constraints to be effective, with control typically needed on factors such as tensile ranges, maximum diameter to thickness ratio (D/t) and inner diameter (ID) tolerances. By working with suppliers who understand the installation process, a the chance of a suitable product is greatly increased. DNV standards dictate several basic requirements for pipe reeling. A maximum yield strength value of no greater than +100MPa of the Specified Minimum Yield Strength (SMYS) is to be used, with a yield spread no greater than 100MPa. Wall thickness tolerance is considered to be dependant on the pipes actual wall thickness and a yield to tensile ratio of no greater than 0.90 is to be used. Strain aged testing of parent pipe material must also be carried out to the expected levels experienced during the reeling process. For the reeling of rigid pipeline, the choice of pipe material is strongly influenced by the manufacture method, both in terms of properties and geometry. Two main manufacturing methods exist, being submerged arc welded (SAW) and seamless (SMLS). SAW pipe is created by rolling a plate and welding the seam. It is a closely controlled method of fabrication offering tighter dimensional tolerances and better availability than seamless pipe. Seamless pipe involves the driving of a billet over a piercing rod, creating a hollow shell. This method typically offers better availability than welded pipe, at the expense of poorer tolerances in properties, in particular geometrically. Technip made an attempt to explore the variation of wall thickness in four 10km length pipelines of 6†, 10† and two 12† diameters, with stated wall thickness from 12.7 to 21.3mm. Measurements were taken at various points of each pipeline through their circumference, building up a broad cumulative distribution function for the thickness of each pipe. It was found that there was large variation in the wall thickness values throughout each pipe. Despite initial concerns, it was said to be almost impossible for a large to thin extreme of wall thickness to occur at a weld connection, due to the large variation of possible thicknesses in each pipe. It was concluded that the plastic moment capacity of seamless pipe was dominated primarily by the variation in average wall thickness through a pipes cross section. A highly exaggerated illustration of the deviance of each outside diameter (OD) for each type of pipe manufacture can be seen in the following Figure 6. The variation in OD of any pipe is closely related to ovality of the linepipe and can be obtained from additional analysis. An additional issue that tends to arise with pipeline reeling, regarding material selection, occurs with the use of different pipe grades during production. When pipe is requested by a supplier, it is done so by grade. When a grade is selected as being suitable for use, a supplier will ensure that the material supplied exceeds the grade, often level with the next grade up, in order to prevent rejection of the pipe due to it being under specification, which could cost them vast amounts of money. This results in welding issues as higher grade materials are more difficult to weld to standard, requiring overmatching (where the weld is stronger than the pipe itself) with the surrounding material. In order to prevent this, companies have been known for requesting material in the form of a YS/UTS ratio, yield strength over ultimate tensile strength, described in more detail below, keeping tighter control on what is produced. This comes at a disadvantage to suppliers due to the finer toleran ces involved. Reeling can also cause unacceptable strain hardening in certain materials, as well as large work hardening in higher grade steels. Strain hardening can be described as the increase in material resistance after previously exceeding its yield point from plastic strain. In ratio form it is YS/UTS, with lower ratio values indicating a greater material resistance after yield, and thus greater material stability under plastic deformation. A typical graph of strain hardening in a material can be seen below in Figure 7. The increase in material resistance can be seen from the positive slope produced. Work hardening, the increase in yield from repetitive straining is also of concern, but happens in fewer materials. Corrosion is an issue for pipelines in such areas as sour service. In areas such as hydrocarbon production pipelines, an inner liner, often of high-density polyethurene, is inserted as a form of corrosion prevention. This greatly enhances the life of the pipeline but issues have arisen with such a setup, including liner collapse. Liner collapse can occur when gas that is travelling through the liner becomes trapped between it and the outer pipe. During service this has little effect due to the pipeline operating pressure, but when the pipeline is depressurised, it can expand and collapse the liner. It has been shown that certain materials can experience increased resistance to fracture due to a growth in micro cavities and other such defects that can initiate ductile crack propagation. Due to the nature of the reeling method for pipeline installation this effect is given less attention however, instead aiming to reduce the chance of fracture via carefully selected material grade. This is due to the fact that reeling produces much smaller plastic strain levels than is ideal for the theory to work to great effect. Plastic Strain Effects On Materials And Welding The majority of load carrying structures in an engineering environment have cracks present in their construction, through either the linepipe material itself or the welding that was carried out through construction. It is more or less unheard of to have a pipeline with no defects at all, and it would be highly uneconomic to repair every flaw found. As such it is important to develop an acceptance criteria in order to establish defects that are acceptable and those that are not and have the potential to cause failure one that states a guaranteed fitness for purpose and integrity of the pipeline. Considering the two possible lay methods in terms of strain, that is plastic strain and elastic strain installation respectively, each has different assessment criteria to carry out. The standard procedures for elastic loading are not equal to plastic loading, being modified to suit. The severity of a flaw is dependant mostly on its size, location, loading and the material properties. As an example, installation methods involving significant plastic strain normally require high toughness materials in order to allow acceptance of realistic flaw sizes in the girth welds. An acceptance criteria must be carefully considered to ensure that it is not over cautious. It must be ensured that no unnecessary work is carried out with regards to weld repair, inspection and pre-weld treatments, and that no weld methods, materials or design are wrongly disqualified throughout the process. The industry as a whole accepts that flaws in structures are acceptable as long as they are accounted for and cannot cause failure. Modern pipeline design is based on a limit state design, with each failure mode designed for independently. One of the main failure modes in rigid pipelines for reeling is the fracture of girth welds. For girth welds, it is important to ensure that the strength and fracture toughness are well optimised, as this will help to prevent any present flaws from extending and thus affecting the overall pipeline integrity. It needs to be demonstrated that the pipeline has adequate resistance against crack extension by tearing and unstable fracture during its installation, as well as operation. This is done via an Engineering Critical Assessment (ECA), which was devised in order to help determine acceptable flaw sizes in girth welds. Recommended Practice For Flaw Control The standards by the DNV give a Recommended Practice to be used for cyclic plastic deformation as found in rigid pipe reeling. The Practice is made up of 3 key elements, namely a procedure for fracture resistance testing, an Engineering Critical Assessment (ECA) procedure and finally a validation testing procedure. Each of the three stages is expanded on below. The purpose of the initial element of the procedure is to characterise the pipe materials fracture resistance as well as the fracture resistance of the girth welds. This is done to help determine acceptable flaw sizes in the pipeline. There are two ways of carrying out such analysis according to the utilised BSI BS 7448, namely via the use of either a SENT (Single Edged Notched Tension) or a SENB (Single Edged Notched Bend) specimens. Due to the loading characteristics of reeling, the SENT specimen is the most frequently utilised, as it is considered to be the more representative of the two with regards to the crack tip constraint of girth weld flaws. Use of the SENB specimen results in conservative results. With regards to cyclic loading effects regarding fracture resistance, research carried out by both TWI and DNV has shown, through both small and large scale testing, that cyclic loading does little to affect the fracture resistance of both the pipe material and its welds. Due to this, the DNV standards recommend that the fracture resistance values are determined for later ECA analysis through the use of one-directional monotonic testing of the SENT specimens, before later being verified by small scale testing of Segment specimens, used to resemble conditions of a girth weld during linepipe installation. Characterise The Pipe Materials Fracture Resistance To begin with, monotonic testing of the SENT specimens was carried out, in order to characterise the materials fracture resistance values by J-R (or CTOD-R) curves. For this application the BS 7448 standard is followed, with exception to the use of the SENT specimen in order to account for obtaining a loading mode and thus crack tip constraint similar to that of a pipe circumferential surface or embedded flaw. No set standard is currently available for this configuration of SENT testing. The typical SENT specimen, as seen above in Figure 8, is of recommended dimensions B = 2W and contains a surface notch that is used to represent the relevant orientation for defects in girth welds. The aim of this testing stage is to evaluate results for all possible defect locations on a reeled rigid pipeline. The sample is to be either clamped in position or pin loaded for testing, with both methods being deemed acceptable for comparison of flaws in pipe girth welds. A minimum of 6 specimens will be tested, with each loaded to a tearing length of anything from 0.2mm to 3mm, in order to obtain an accurate J-R or CTOD-R curve. It must be ensured that no brittle fracture occurs before attainment of the expected maximum load value, or that of a stable crack extension of at least 1.5 mm, for the results to be effective. Testing is done at the lowest predicted install temperature the pipeline will foresee, with consideration also made for install temperatures of over 50 °c due to the p ossibility of a reduced stable crack tearing resistance. The J-integral is obtained from the relationship where Je represents the elastic area of the J-integral and Jp the plastic respectively. Perform An Engineering Criticality Assessment (ECA) The second stage of the procedure is based around an ECA assessment. An ECA assessment is used in order to help determine acceptable flaw sizes that will not cause failure during linepipe installation and later operation. It can be broken down into 3 basic stages, those being material properties, flaw data and material stresses. Having any two of the three available allows the third to be found, but the most common method utilised is establishing the maximum tolerable flaw size from material properties and applied stress information. In 2007, the DNV-OS-F101 standards had an Appendix A added, based on the BSI BS 7910 standards, in an attempt to clarify all existing information relating to ECA calculations. The previously found fracture properties, established from testing of SENT specimens, are used to ensure that no weld flaws will cause failure during installation. Failure itself is defined as a preset crack extension and final crack size being exceeded, as well as the occurrence of plastic collapse and unstable fracture. The crack size definitions are mostly recommended for study in the installation phase, giving desirable information on flaw size after installation, that itself being during the pipeline operation. The ECA assessment itself is described in the BSI BS 7910 level 3 tearing instability analysis, but for the purpose of pipe reeling is modified to suit. The method is fairly in-depth, but a summery will be given to illustrate what is involved. The initial requirement is to adjust the found stress/strain and curve data from the SENT in order to help create a Failure Assessment Diagram (FAD), used to help distinguish between acceptable results and those that would cause possible failure. This is done by plotting both brittle fracture Kr against plastic collapse Lr. A cutoff value for plastic deformation must be found, as the FAD cannot account for arbitrary large plastic deformations. An example FAD diagram can be seen below in Figure 9. Figure 9: Failure Assessment Diagram (FAD) It is also required to calculate the actual stress and strain concentration of the pipeline. The act

The Symbolic Function of the Sambo Doll in Ralph Ellison’s Invisible Ma

In 1952, Ralph Ellison published the only novel of his career: Invisible Man; telling the story of an unnamed â€Å"invisible† narrator. Early on, the narrator delineates his invisibility to â€Å"people refus[ing] to see [him];† society neglects to see him as a result of his black lineage (Ellison 3). Ellison incorporates several objects, frequently appearing and reappearing throughout the novel, to expose social and intellectual issues imposed on the black community. Amid the â€Å"procession of tangible, material objects† moving â€Å"in and out of the text† is the dancing Sambo doll whose purpose is to symbolically represent cruel stereotypes and the destructive power of injustice that blacks fall victim to (Lucas 172). Ellison’s rendering of the small paper dolls, representing obedient black slaves, â€Å"unveils an astonishing correspondence between the past and the present† and functions as a force to the narrator’s most essent ial consciousness of his environment and identity (Lucas 173). The Sambo, whose sole purpose was to entertain the white community, further functions to symbolize, through its stereotype, the power whites have to control the movements of African Americans. Ellison immediately introduces readers to the Sambo stereotype at the beginning of the novel when the invisible man becomes the source of entertainment for the white man at the battle royal, engaging in a fighting match with other black men. Out of pure desperation to be accepted by these men, the narrator; like the obedient Sambo, moves in accordance to what he hears the crowd instructing him to do because â€Å"only these men [can] judge [his] ability† (Ellison 22). To further validate the narrator’s Sambo-like behavior, following the match, a blond man winks at the narrator... ...pulls its strings. For the narrator and the black community, the Sambo dolls are a constant reminder that they are unable to neither form their own identity nor control their very movements. Ellison’s incorporation of the Sambo dolls educates us on an important lesson in life, that it is important to be ourselves and choreograph our own choices and movements in life. We must not allow others to hold reign of our strings and steer us in the direction they feel is right. â€Å"Life is to be lived, not controlled;† our full potential in life lies within our ability to control our movements and decisions in life (Ellison 577). Works Cited Ellison, Ralph. Invisible Man. New York: Vintage International, 1995. Ebook Reader. Morel, Lucas E. Ralph Ellison and the Raft of Hope: A Political Companion to Invisible Man. Lexington: University of Kentucky, 2004. Print. The Symbolic Function of the Sambo Doll in Ralph Ellison’s Invisible Ma In 1952, Ralph Ellison published the only novel of his career: Invisible Man; telling the story of an unnamed â€Å"invisible† narrator. Early on, the narrator delineates his invisibility to â€Å"people refus[ing] to see [him];† society neglects to see him as a result of his black lineage (Ellison 3). Ellison incorporates several objects, frequently appearing and reappearing throughout the novel, to expose social and intellectual issues imposed on the black community. Amid the â€Å"procession of tangible, material objects† moving â€Å"in and out of the text† is the dancing Sambo doll whose purpose is to symbolically represent cruel stereotypes and the destructive power of injustice that blacks fall victim to (Lucas 172). Ellison’s rendering of the small paper dolls, representing obedient black slaves, â€Å"unveils an astonishing correspondence between the past and the present† and functions as a force to the narrator’s most essent ial consciousness of his environment and identity (Lucas 173). The Sambo, whose sole purpose was to entertain the white community, further functions to symbolize, through its stereotype, the power whites have to control the movements of African Americans. Ellison immediately introduces readers to the Sambo stereotype at the beginning of the novel when the invisible man becomes the source of entertainment for the white man at the battle royal, engaging in a fighting match with other black men. Out of pure desperation to be accepted by these men, the narrator; like the obedient Sambo, moves in accordance to what he hears the crowd instructing him to do because â€Å"only these men [can] judge [his] ability† (Ellison 22). To further validate the narrator’s Sambo-like behavior, following the match, a blond man winks at the narrator... ...pulls its strings. For the narrator and the black community, the Sambo dolls are a constant reminder that they are unable to neither form their own identity nor control their very movements. Ellison’s incorporation of the Sambo dolls educates us on an important lesson in life, that it is important to be ourselves and choreograph our own choices and movements in life. We must not allow others to hold reign of our strings and steer us in the direction they feel is right. â€Å"Life is to be lived, not controlled;† our full potential in life lies within our ability to control our movements and decisions in life (Ellison 577). Works Cited Ellison, Ralph. Invisible Man. New York: Vintage International, 1995. Ebook Reader. Morel, Lucas E. Ralph Ellison and the Raft of Hope: A Political Companion to Invisible Man. Lexington: University of Kentucky, 2004. Print.

Comparing the Humility of Kings in Shakespeares Richard II through Henry V :: comparison compare contrast essays

The Humility of Kings in Richard II through Henry V  Ã‚  Ã‚  Ã‚  Ã‚   Though Shakespeare was a conservative, he believed in the humility of Kings. The plays Richard II through Henry V assert Shakespeare's idea that a King must understand the common man to be a good ruler. These four plays chronicle the history of three Kings' ability to recognize, relate to, and be part of the humanity he rules. Shakespeare advocates his belief with the falling of Richard II, who could not or would not understand his subjects; the constancy of Henry IV, whose combined humility and strength won him the thrown; and Hal, whose raucous behavior led his father to worry and his country to victory. King Richard II is Shakespeare's example of a king who removes himself from the reality of the common people. Richard views his position as a source of amusement. His "cares" as King, other than an opportunity for an agreeable audience, are merely a burden. Instead of investigating the accusations of treachery from Henry and Mawbrick, he exiles both men as an easy way out. Richard was born a King, and knows no life other than that of royalty. Unfortunately the lesson that must know men to rule them costs him the thrown. Richard's lesson influences his usurper and his usurper's heir to the thrown, demonstrating to them both the value of humility. After exiling Henry, Richard takes the opportunity to criticize his "courtship to the common people." His speech at first seems to merit Henry for his sociability, but it quickly becomes clear that, to Richard, commoners are not fit for royal consumption: How he did seem to dive into their hearts With humble and familiar courtesy, What reverence he did throw away on slaves, Wooing poor craftsmen with the craft of smiles (I.iv.25-8) Shakespeare is of course establishing Henry's ability to gather support from the masses, the very key to his victory over Richard later in the play. The speech also clarifies Richard's position on the subject to underline this contrast between the two men. To fine tune Richard's character, Gaunt gives a revealing and unbridled description of Richard to his face just before dying. After Richard exiles the soul heir to his estate, Gaunt is bitter and fed up with his weak and pompous qualities: A thousand flatterers sit within thy crown, Whose compass is no bigger than thy head,

Chinese Violation of the United Nations Nuclear Non-Proliferation Treat

In this day and age, society operates in constant threat of terrorism, war, and nuclear fallout; the rapid growth of international militaristic power contributes to the ever-present fear in the back of all of our minds. None of us can go through the day without hearing a newscaster or radio personality talking about the growing threat that Iran or Afghanistan or North Korea poses to the global community, but there is one State that we hear of. This threat works in a much vaster environment, and shrouds itself in cloaks of secrecy and deception – China. Although the Chinese tend to evade the mass media frenzy that constantly reports on foreign threats, their underrated affairs are nothing less than lethal. Perhaps the most disturbing aspect of the People’s Republic remains to be their nuclear incubation programs – a violation of the Nuclear Non-Proliferation Act of the United Nations that they agreed to nearly twenty years ago. The Chinese deny any kind of nu clear programs they have attained domestically, and refuse to affiliate themselves with supposed partnering nations such as Iran. While the Chinese attempt to cover up any trace of their nuclear enhancement programs, the country has a long history of nuclear development. During his Great Leap Forward, Chinese Communist leader Mao Zedong made attempts to attain nuclear arms and create a nuclear program for his people that would help them in the future (Terrill 14). China currently acquires 13 nuclear reactors, with 25 more in the works that will quickly be followed by more, all growing in sophistication and innovation; the country will probably become self-sufficient in nuclear design and construction in the years to come (WNA 1). The Chinese have contracts with severa... ...on in modern society. Doesn’t quite sound like the country that agreed to stop the spread of nuclear technology and propaganda, does it? The Chinese struggle to keep a faà §ade of indifference and innocence when it comes to nuclear affairs, but the facts tell a different story. Over the past decades, China has accumulated millions of nuclear arms, enhanced its nuclear capabilities through the creation of scores of sophisticated nuclear facilities, and forged powerful and hazardous relations with increasingly volatile nations in the Middle East. The China of today is a far cry from the country (or illusion of a country) that promoted pacifistic, diplomatic means – their poorly hidden nuclear programs and their alliances with dangerous counterparts has clearly put them in violation of the Nuclear Non-Proliferation Act that they signed nearly half a century ago.

Personal Worldview Essay

Agave may be one of the most popular natural sweeteners today, but its rise in popularity in the U. S. didn’t begin until around 2003. Now it’s commonly used as an alternative to sugar, honey, or maple syrup for cooking, baking, and sweetening everything from coffee to oatmeal. Agave nectar (or syrup) is produced from the agave plant – the same plant used to make tequila. It tastes similar to honey with a hint of molasses and is manufactured by extracting the juice from the plant’s core, which is then filtered, heated or treated with enzymes and concentrated until it becomes a syrupy liquid.Proponents of this natural sweetener claim that it’s a healthy alternative to sugar, honey, and other sweeteners because of its low glycemic index. It’s advertised as ideal for people who are watching their weight or folks with diabetes who are working to lower their blood sugar levels. But before you add agave nectar to your grocery list, here’s wh at the heck you need to know. Agave nectar contains up to 90 percent fructose. That’s significantly more than table sugar, which is 50 percent fructose (and 50 percent glucose) once it’s broken down by your body.A gave’s high fructose content gives it advantages and disadvantages. The good part first: Because fructose has a low glycemic index, agave doesn’t cause your blood sugars to spike as rapidly after eating it, which means it can temper the sugar rush that occurs after eating something sweet. And even though agave and white sugar contain approximately the same number of calories, agave is markedly sweeter. That means you can get away with using less to flavor your coffee, morning oatmeal, or baked goods and potentially save yourself a few calories. Now for the bad part.The high fructose content in agave can have some undesirable health effects. Studies have shown that large amounts of fructose can increase blood-triglyceride levels, and high triglyc erides are a known risk factor for heart disease. In addition, some people have trouble absorbing fructose, so eating it can cause bloating, gas and abdominal discomfort. Agave can be especially problematic for people with irritable bowel syndrome (IBS). The Verdict: Should You Switch to Agave? As with so many issues in nutrition, the health-related pros and cons of agave aren’t clear-cut.My feeling is, if you’re only using a few teaspoons of sweetener a day, the differences are negligible and you can choose whichever one you prefer. In other words, limiting the total amount of sweetener you’re using will have a much bigger impact on your health than altering the type of sugar you use. With that in mind, don’t use agave as an excuse to pump more sweet stuff into your diet just because it has a lower glycemic index. Most of us consume far more sugar in all forms than we should. And if agave is your sweetener of choice, just remember to keep your intake to no more than one tablespoon (that’s three teaspoons) TOTAL per day.

The Hunters: Phantom Chapter 29

I will not die – not again, Elena thought furiously as she writhed in pain, the invisible vise clamping down even harder on her. Bonnie fel to the grass, even paler than before, clutching her stomach in a mirror image of Elena. It cannot take me! And then, just as suddenly as it had started, the deafening roar ceased and the crushing pain lifted. Elena col apsed to the ground, air whooshing back into her lungs. It's finished grinding bones to make its bread, Elena thought semihysterical y, and almost giggled. Bonnie gasped loudly, letting out a smal sob. â€Å"What was that?† Elena asked her. Bonnie shook her head. â€Å"It felt like something was getting pul ed out of us,† she said, panting. â€Å"I felt it before, too, right before you showed up.† â€Å"That pul ing feeling.† Elena grimaced, her mind whirling. â€Å"I think it's the phantom. Damon says that it wants to drain our power. That must be how it does it.† Bonnie was staring at her, her mouth just a tiny bit open. Her pink tongue darted out and licked her lips. â€Å"Damon says?† she said. She frowned anxiously. â€Å"Damon's dead, Elena.† â€Å"No, he's alive. The star bal brought him back after we'd already left the Dark Moon. I found out after the phantom took you.† Bonnie made a little noise, a sort of eep! that reminded Elena of a bunny, of something soft and smal and surprised. Al the blood drained out of her face, leaving her usual y faint freckles vivid spots against the white of her cheeks. She pressed shaking hands to her mouth, staring at Elena with huge dark eyes. â€Å"Listen, Bonnie,† Elena said fiercely. â€Å"Nobody else knows this yet. Nobody but you and me, Bonnie. Damon wanted to keep it a secret until he could figure out the right way to come back. So we need to keep quiet about it.† Bonnie nodded, stil gaping. The color was rushing back into her cheeks, and she looked like she was caught between joy and total confusion. Glancing over her shoulder, Elena noticed that there was something in the grass at the foot of a rosebush beyond Bonnie, something motionless and white. A chil went through her as she was reminded of Caleb's body at the foot of the monument in the graveyard. â€Å"What's that?† she asked sharply. Bonnie's expression tipped over into confusion. Elena brushed past her and walked toward it, squinting in the sunlight. When she got close enough, Elena saw with amazement that it was Matt, lying stil and silent beneath the rosebush. A sprinkle of black petals was scattered across his chest. As she came close to him, Matt's eyes twitched – she could see them moving rapidly back and forth under the lids, as if he was having an intense dream – and then flew open as he took in a long, rattling gulp of air. His pale blue eyes met hers. â€Å"Elena!† He gasped. He hitched himself up onto his elbows and looked past her. â€Å"Bonnie! Thank God! Are you okay? Where are we?† â€Å"The phantom caught us, brought us to the Nether World, and is using us to make itself more powerful,† Elena said succinctly. â€Å"How do you feel?† â€Å"A little startled,† Matt joked in a weak voice. He looked around, then licked his lips nervously. â€Å"Huh, so this is the Nether World? It's nicer than I'd pictured from your descriptions. Shouldn't the sky be red? And where are al the vampires and demons?† He looked at Elena and Bonnie sternly. â€Å"Were you guys tel ing the truth about everything that happened to you here? Because this place seems pretty nice for a Hel dimension, what with al the roses and everything.† Elena stared at him. It's possible too many weird things have happened to us. Then she noticed the hint of panic on Matt's face. He wasn't unnatural y blase about what was going on; he was just being brave, whistling to keep up their spirits in this newest danger. â€Å"Wel , we wanted to impress you,† she joked back with a tremulous smile, then quickly got down to business. â€Å"What was going on when you were back home?† she asked him. â€Å"Um,† Matt said, â€Å"Stefan and Meredith were questioning Caleb about how he summoned the phantom.† â€Å"Caleb's not responsible for the phantom,† Elena said firmly. â€Å"It fol owed us home when we were here before. We have to get home right away so we can tel them they're dealing with one of the Original ones. It'l be much more difficult for us to get rid of than an ordinary one.† Matt looked at Bonnie questioningly. â€Å"How does she know this?† â€Å"Wel ,† Bonnie said, with a hint of the glee she always got from gossip, â€Å"apparently Damon told her. He's alive and she saw him!† So much for keeping Damon's secret, Bonnie, Elena thought, rol ing her eyes. Stil , it didn't real y matter if Matt knew. He wasn't the one Damon was keeping the secret from, and he wasn't likely to be able to tel Stefan anytime soon. Elena tuned out Matt's exclamations of wonder and Bonnie's explanations as she scanned the area around them. Sunshine. Rosebushes. Rosebushes. Sunshine. Grass. Clear blue sky. Al the same, in every direction. Wherever she looked, velvety black perfect blooms nodded serenely in a clear midday sun. The bushes were al the same, down to the number and positions of the roses on each one and the distances between them. Even the stems of grass were uniform – al stopping at the same height. The sun hadn't moved since she'd arrived. It al seemed like it should be lovely and relaxing, but after a few minutes the sameness became unnerving. â€Å"There was a gate,† she told Bonnie and Matt. â€Å"When we were looking into this field from the Gatehouse of the Seven Treasures. There was a way in from there, so there must be a way to get out to there. We just have to find it.† They had begun to clamber to their feet when, without warning, the sharp tugging pain struck again. Elena clutched her stomach. Bonnie lost her balance and fel back to a sitting position on the ground, her eyes clenched shut. Matt gave a choked-off exclamation and gasped. â€Å"What is that?† Elena waited for the pain to fade again before she answered him. Her knees were wobbling. She felt dizzy and sick. â€Å"Another reason we need to get out of here,† she said. â€Å"The phantom's using us to increase its power. I think it needs us here to do that. And if we don't find the gate soon, we might be too weak to make it home.† She looked around again, the uniformity almost dizzying. Each rosebush was centered in a smal circular bed of richlooking dark loam. Between these circles, the grass of the field was velvety smooth, like the lawn of an English manor house or a real y good golf course. â€Å"Okay,† Elena said, and took a deep, calming breath. â€Å"Let's spread out and look careful y. We'l stay about ten feet apart from one another and go from one end of this rose garden to the other, searching. Look around careful y – anything that's at al different from the rest of the field could be the clue we need to find the way out.† â€Å"We're going to search the whole field?† Bonnie asked, sounding dismayed. â€Å"It's huge.† â€Å"We'l just do one little bit at a time,† Elena said encouragingly. They started in a spread-out line, gazing intently back and forth, up and down. At first there was only the silence of focused concentration as they searched. There was no sign of a gate. Step by step through the field, nothing changed. Endless rows of identical rosebushes stretched in al directions, spaced about three feet from one another, enough room between them for one person to easily pass. The eternal midday sun beat down uncomfortably on the tops of their heads, and Elena wiped a bead of sweat from her forehead. The scent of roses hung heavily in the warm air; at first Elena had found it pleasant, but now it was nauseating, like a too-sweet perfume. The perfect stalks of grass bent under her feet, then sprang up again, uncrushed, as if she had never passed. â€Å"I wish there were a breeze,† Bonnie complained. â€Å"But I don't think the wind ever blows here.† â€Å"This field must come to an end sometime,† Elena said desperately. â€Å"It can't just go on forever.† There was a sickening feeling in the pit of her stomach, though, that suggested to her that maybe it could go on forever. This wasn't her world, after al . The rules were different here. â€Å"So where's Damon now?† Bonnie asked suddenly. She wasn't looking at Elena. She was keeping up the same steady pace, the same careful, systematic gaze. But there was a note of strain in her voice, and Elena broke her own search to glance at her quickly. Then one possible answer to Bonnie's question hit Elena and she stopped dead. â€Å"That's it!† she said. â€Å"Bonnie, Matt, I think Damon might be here. Or not here, not in the rose garden, but somewhere in the Nether World, in the Dark Dimension.† They looked at her blankly. â€Å"Damon was going to try to come here to look for the phantom,† Elena explained. â€Å"He thought it fol owed us home from here when we came back to our own world, so this is probably where he'd start searching for its physical body. The last time I saw him, he told me that he thought he would be able to fight it better from here, where it came from. If he is here, maybe he can help us get back to Fel ‘s Church.† Damon, please be here somewhere. Please help us, she begged silently. Just then, something caught her eye. Ahead of them, between two rosebushes that looked just the same as any other two rosebushes in the garden, there was the slightest shift, the tiniest distortion. It looked like the heat shimmer that would sometimes appear over the highway on the hottest, most stil days of summer as the sun's rays bounced off the asphalt. No asphalt here to radiate back the sun's heat. But something had to be causing that shimmer. Unless she was imagining it. Were her eyes playing tricks on her, showing her a mirage among the rosebushes? â€Å"Do you see that?† she asked the others. â€Å"Over there, just a little to the right?† They stopped and peered careful y. â€Å"Maybe?† Bonnie said hesitantly. â€Å"I think so,† Matt said. â€Å"Like hot air rising, right?† â€Å"Right,† Elena said. She frowned, estimating the distance. Maybe fifteen feet. â€Å"We should take it at a run,† she said. â€Å"In case we have any trouble getting through. There might be some kind of barrier we have to break to get out. I don't think hesitating wil help us.† â€Å"Let's hold hands,† Bonnie suggested nervously. â€Å"I don't want to lose you guys.† Elena didn't take her eyes off the shimmer in the air. If she lost it, she'd never find it again, not with the sameness of everything in here. Once they got turned around, they'd never be able to tel this spot from any other. They al three took one another's hands, staring at the smal distortion that they hoped was a gate. Bonnie was in the middle and she clutched Elena's left hand with her thin, warm fingers. â€Å"One, two, three, go,† Bonnie said, and then they were running. They stumbled over the grass, wove between rosebushes. The space between the bushes was barely wide enough for three to run abreast, and a thorny branch caught in Elena's hair. She couldn't let go of Bonnie and she couldn't stop, so she just yanked her head forward despite the eye-wateringly painful tug on her hair and kept running, leaving a tangle of hair hanging from a bush behind her. Then they were at the shimmer between the bushes. Close up, it was even harder to see, and Elena would have doubted that they were at the right spot except for the change in the temperature. It might have looked like a heat shimmer from a distance, but it was as cold and bracing as a mountain lake, despite the warm sun right above them. â€Å"Don't stop!† Elena shouted. And they plunged into the coldness. In an instant, everything went black, as if someone had switched off the sun. Elena felt herself fal ing and clung desperately to Bonnie's hand. Damon! she cried silently. Help me!