Other Project Updates

US EPA estimates that the average acre of U.S. forest annually sequesters 1.22 MT CO₂. We used US EPA’s “Greenhouse Gas Equivalencies Calculator” website (https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator) to calculate the total presented here. Background information on this estimate is provided by US EPA on their website: “GHG Equivalencies Calculator - Calculations and References” here: https://www.epa.gov/energy/ghg-equivalencies-calculator-calculations-and-references#seedlings


US EPA estimates that the average U.S. passenger vehicle emits 4.75 MT CO₂ per year. We used US EPA’s “Greenhouse Gas Equivalencies Calculator” website (https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator) to calculate the total presented here. Background information on this estimate is provided by US EPA on their website: “GHG Equivalencies Calculator - Calculations and References” here: https://www.epa.gov/energy/ghg-equivalencies-calculator-calculations-and-references#vehicles

The local and state economic benefit of produced oil is estimated using the following approach: a. The average price for a barrel of oil is roughly estimated from a 12-month chart developed by the Michigan Gas Buddy showing actual and US average prices for crude oil. See: http://www.michigangasprices.com/crude_chart.aspx. We selected $35/barrel to be a representative point but recognize the actual price and hence the actual economic value will be different. b. A 2006 report from Western Michigan University’s Michigan Geological Depository for Research and Education estimated that in 2006 private royalty owners received roughly 12.5% and the State of Michigan received roughly 16.7% of the total wellhead val ue of oil and gas combined. We lumped these two numbers together and rounded down to the nearest percentage to obtain a factor of 18%. [see: http://wsh060.westhills.wmich.edu/MGRRE/oilgas.shtml] c. We multiplied the total number of barrels of oil produced by the average price per barrel of $35 by the economic benefit factor of 18% to estimate the local and state economic benefit.
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