oil drop experiment

Examples of oil drop experiment in the following topics:

• Millikan's Oil Drop Experiment

  • The oil drop experiment calculated the charge of an electron using charged oil droplets suspended in an electric field.
  • In 1909, Robert Millikan and Harvey Fletcher conducted the oil drop experiment to determine the charge of an electron.
  • The figure below shows a simplified scheme of Millikan's oil drop experiment.
  • Ordinary oil would evaporate under the heat of the light source, causing the mass of the oil drop to change over the course of the experiment.
  • Robert Millikan and Harvey Fletcher used the oil drop experiment.

• The Millikan Oil-Drop Experiment

  • The Oil-Drop Experiment, otherwise known as the Millikan Oil-Drop Experiment, is one of the most influential studies in the history of physical science.
  • Millikan designed his experiment to measure the force on oil droplets between two electrodes.
  • The top and bottom of the chamber were attached to a battery, and the potential difference between the top and bottom produced an electric field that acted on the charged oil drops.
  • The calculated value from the Oil-Drop Experiment differs by less than one percent of the current accepted value of 1.602176487(40)×10−19 C.
  • Special oil for vacuum apparatus is sprayed into the chamber, where drops become electrically charged.

• Energy and Environmental Reform

  • Carter's Energy Crisis responses included deregulation of American oil production, leading to an increase in American oil production.
  • Deregulating domestic oil price controls allowed U.S. oil output to rise sharply from the Prudhoe Bay fields, although oil imports fell sharply.
  • After 1980, oil prices began a 20-year decline down to a 60 percent price drop in the 1990s.
  • The oil crisis had mixed effects in the United States, due to some parts of the country being oil-producing regions and other parts being oil-consuming regions.
  • Graph of Top Oil Producing Counties, showing drop in Iran's production

• Cartel Example

  • However, if the cartel collapses because of defections, the firms would revert to competing, profits would drop, and all would be worse off.
  • In 1973 members of OPEC reduced their production of oil.
  • Because crude oil from the Middle East was known to have few substitutes, OPEC member's profits skyrocketed.
  • From 1973 to 1979, the price of oil increased by $70 per barrel, an unprecedented number at the time.
  • Discovery of new oil fields in Alaska and Canada introduced new alternatives to Middle Eastern oil, causing OPEC's prices and profits to fall.

• Futures and Forward Contracts

  • Seller will deliver the oil within six months.
  • You could either sell your futures contract for a higher price or wait until you receive the oil and sell the oil for $10 per barrel profit.
  • If investors and savers believe the price of oil will be $70 per barrel, then the market value of your futures contract drops.
  • Speculators buy derivatives because the market value of the derivatives could experience wide swings.
  • Thus, speculators could earn enormous profits or experience massive losses from the derivatives markets.

• Present Sources of Energy

  • Oil was the most popular energy fuel, and oil and coal combined represented over 60% of the world energy supply in 2008.
  • However, with the advent of the automobile, airplanes, and the growing use of electricity among consumers, oil became the dominant fuel during the 20th century.
  • The growth of oil as the largest fossil fuel was further enabled by steadily dropping prices from 1920 until 1973.
  • However, after the oil shocks of 1973 and 1979, during which the price of oil increased from $5 to $45 per barrel, there was a shift away from this particular resource.
  • Japan, which bore the brunt of the oil shocks, has also made spectacular improvements to its technology.

• Options Contract

  • On the day of delivery, if the price of oil equals $70 per barrel, you do not exercise the options contract.
  • If oil is $90 per barrel on the day of delivery, then you will exercise your options contract.
  • Investor who sold you this contract must sell the oil for $80 per barrel to you.
  • Thus, Option A has a larger option premium because investors experience more uncertainty in its asset's prices.
  • Scenario 2: If the exchange rate drops lower than $0.8 US / euro, then the investor exercises the put option.

• Issue Identification and Agenda Building

  • For example, Obama's planned policy to loosen restrictions on coastal drilling was dropped after the BP oil spill occurred in the Gulf of Mexico .
  • The BP oil spill is an example of a crisis that changed the national policy agenda by reversing Obama's planned policy to loosen restrictions on coastal drilling.

• Education and the Professions

  • Oil became an important resource beginning with the Pennsylvania oil fields.
  • Kerosene replaced whale oil and candles for lighting.
  • Rockefeller founded the Standard Oil Company to consolidate the oil industry—which mostly produced kerosene before the automobile created a demand for gasoline in the 20th century.
  • The new technology was hard for young people to handle, leading to a sharp drop (1890–1930) in the demand for workers under age 16.
  • Rockefeller built Standard Oil into a national monopoly; then he retired from the oil business in 1897 and devoted the next 40 years of his life to giving away his fortune using systematic philanthropy, especially to upgrade education, medicine and race relations.

• Impacts of Policies and Events on Equilibrium

  • One extreme case of a supply shock is the 1973 Oil Crisis.
  • When the U.S. chose to support Israel during the Yom Kippur War, the Organization of Arab Petroleum Exporting Countries (OAPEC) responded with an oil embargo, which increased the market price of a barrel of oil by 400%.
  • This leads to an increase in the supply of the local currency and is usually accompanied by a sharp drop in the exchange rate of the affected country.