A Question of Power - Western Kentucky University

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///Entrepreneurs in Action!



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Learning in Action!

A Cross
-
disciplinary Problem
-
Based Learning
Environment for Entrepreneurship


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A Question of Power

(Oil Related Case)


Test Version 1.0

(A Work in Progress)


R. Wilburn Clouse, PhD

Western Kentucky University



Terry Goodin, EdD


Middle Tennessee


State University




2

TABLE OF CONTENTS


INTRODUCTION

................................
................................
................................
.............

3

LEARNING VIGNETTE
--

A
QUESTION OF POWER

................................
....................

4

THE CHALLENGE

................................
................................
................................
..........

5

CORE CONCEPTS

................................
................................
................................
........

6

LEARNING OBJECTIVES

................................
................................
..............................

6

GUIDING QUESTIONS

................................
................................
................................
...

7

RESOURCES

................................
................................
................................
.................

7

O
IL
H
ISTORY

................................
................................
................................
.....................

7

O
IL
P
RICING
................................
................................
................................
......................

7

O
IL
P
OLICY

................................
................................
................................
.......................

8

S
OURCES AND
P
RODUCTION OF
O
IL

................................
................................
...................

8

G
OVERNMENT

................................
................................
................................
...................

9

E
NVIRONMENTAL
I
SSUES

................................
................................
................................

10

P
RINT
M
ATERIALS


R
ESEARCH
A
RTICLES
,

B
OOKS AND
P
APERS

................................
.......

10

R
ESEARCH
P
APERS ON
F
UEL
C
ELLS

................................
................................
................

11

B
USINESS
S
UPPORT
M
ATERIALS

................................
................................
......................

12

O
NLINE
E
XPERTS

................................
................................
................................
...........

14

O
NLINE
R
ESOURCES AND
V
IDEO
C
LIPS

................................
................................
............

14

IMPLEMENTATION

................................
................................
................................
......

14

INTRODUCING CASES

................................
................................
................................

15

STUDENT ACTIVITIES

................................
................................
................................
.

15

PRODUCTS

................................
................................
................................
..................

15

P
HASE
O
NE


D
OING THE
R
ESEARCH

................................
................................
...............

16

P
HASE
T
WO


F
IND A
S
OLUTION

................................
................................
......................

16

P
HASE
T
HREE


T
AKING IT
P
UBLIC

................................
................................
...................

16

ASSESSMENTS

................................
................................
................................
...........

16

F
ORMATIVE

................................
................................
................................
.....................

16

S
UMMATIVE

................................
................................
................................
....................

17

REFERENCES

................................
................................
................................
..............

17


A Question of Power

(Oil Related Case)



Introduction


Like all developed nations, the United States is heavily dependant upon oil as a major
source of energy. Indeed, it can be said that the U.S. economy “runs on oil.” Oil provides
power for transportation and manufacturing systems and raw materials for plast
ics,
building and road
-
paving industries, to name a few. The United States is a leader in both
oil production and consumption, with U.S. companies providing technical knowledge for
producing high
-
grade oil products and the American public leading in the co
nsumption of
such products. Without a dependable supply of oil, at reasonable prices, we could face a
major economic upheaval in this country.


While some argue that there really is no looming oil shortage (Maugeri, 2004), it cannot
be argued that oil pri
ces are steadily rising, which is in itself a cause for concern. As
demand for oil has increased we have seen crude oil prices rise from a few dollars per
barrel to forty dollars and more. Gasoline at the pumps now hovers at about two dollars
per gallon (E
nergy Information Administration, 2004). This phenomenon drags at the
economy because it results in the average American family having less disposable
income to spend on other goods and services.


Many believe that we are on the brink of a global oil crisi
s brought about by a world
-
wide increase in demand as developing countries like China and India begin to tap into
the global oil supply. The obvious answer seems to be to increase production. However,
that decision is no longer ours to make. During the 193
0s, 40s and 50s, much of the U.S.
oil supply was produced and refined in the United States, especially Texas. Gasoline
refined from this oil was sold at the pumps for 20
-
35 cents per gallon during this time
period. During the 1960s and in succeeding decade
s, the Middle East gradually replaced
the U.S. as the primary source of oil supply (Skinner, 1995). It was discovered that oil
could be extracted, refined and shipped from the Middle East cheaper than it could be
developed from U.S. sources. Now, the Unite
d States, like other developed countries, is
heavily dependant upon oil from the Middle East. In fact, at present the U.S. imports an
average of 56.2% of its total oil from Middle Eastern sources (Energy Information
Administration, 2004). This “oil addicti
on” has resulted in some rather disturbing
consequences, including the transfer of some 7 trillion dollars of assets from America to
potentially unfriendly states in the Middle East (Economist, 2003). This political reality
shows no sign of change in the n
ear
-
term, as the Middle East maintains a chokehold on
supply. For example, between them, Saudi Arabia and Iraq account for some 35% of the


world’s known oil reserves. Given the geopolitical uncertainty of this region of the world
a stable and reliable supp
ly of oil remains a constant concern.



Solutions for this problem run the gamut from demand reduction via discovery and
development of alternative fuels to supply increases via drilling in such areas as the
Arctic National Wildlife Refuge (Bishop, 2004).

Alternatives such as hydrogen fuel cells
and electric (battery) powered engines are being explored as options for automobiles
(Dunn, 2002; McLean & Lave, 2003). So
-
called “hybrid” engines are being offered as a
transition from gasoline
-
powered to hydrogen
-
powered vehicles and still other engine
options are being investigated (Ogden, Williams, & Larson, 2004). Finally, there are
efforts underway to find ways to produce new fuels from plants and waste products.
These fuels would power existing engines with f
ew, if any, modifications (Zhang, Dubé,
McLean, & Kates, 2003).


Whatever the solution, whether a single new technological breakthrough or a series of
innovations and policies that result in a change in the balance of supply and demand
forces, it seems cle
ar that America must find a way to solve the problem of oil
dependence. Not to do so seems to be fundamentally shortsighted and will leave our
nation truly teetering “on the brink.”



Learning Vignette
--

A Question of Power


Jason, a senior football player

at Tech University, pulled into the local Exxon Service
station and minimarket. His gasoline tank on his SUV was at “empty.” Jason carefully
selected the gasoline grade and began to fill his gas tank. The dollar meter flew by
rapidly. For the past several

months Jason had watched the price of gasoline move up
rapidly from just over a dollar a gallon to close to two dollars a gallon. In a history class,
Jason had just been reading about the Gulf War of 1992 where Iraq invaded Kuwait and
took over and destro
yed many of the oil fields. Jason had learned that much of the oil
consumed in the United States comes from Middle Eastern countries such as Saudi
Arabia, Iraq, Iran and Kuwait.


His research and study in this area made him realize that we could be on a pa
th to disaster
in this country. In order to drive his SUV, Jason had already found it necessary to make
some changes in his spending habits. Since a tank of gas now cost almost fifty dollars,
this increase in fuel costs was forcing him to change his econom
ic standards.


Jason goes into the minimarket to pay his bill and sees the headlines of the USA Today
concerning a terrorist plot uncovered at a oil refinery. Jason had been following the
current Iraqi War and began to wonder about his future.



Later that d
ay, Jason was sitting around the table with some friends at the student center.
They were discussing the world situation which had been the subject of an
interdisciplinary project that they were taking this semester. The students had been
assigned to teams
, the purpose of which was to come up with ideas that could be used to
address America’s dependence on oil, specifically on foreign oil suppliers. The
conversation had turned to the latest developments in the Middle East. Alex, a political
science major, w
as talking about the balance of power and the problems associated with
attempting to establish a democracy in a Muslim world like Iraq. She pulled out the same
newspaper article that Jason had seen at the minimart. Heads really began to spin when
these stu
dents realized the potential impact of oil on their life and on their future. If
another country should attempt to take over yet another country with heavy oil resources,
this could be devastating to the United States and the world oil industry. Even if te
rrorists
develop a systematic approach to destroying large number of oil refineries this also could
have a devastating attack on the world economy.


In addition to Alex, the political science major, and Jason, the engineering major, other
students at the t
able included Jared, an economics major, Donna, a business major, and
Mary, an education major. All of a sudden, this group of students realized that what they
were studying was not history and was not static, but was dynamic and would have a
tremendous im
pact on their future. Jason spoke up and said, “Listen, we’ve got to think
of something


some way of reducing our need for oil. Now, let’s put our heads together
and make it happen!”




The Challenge


Entrepreneurs in Action! c
ases are written to be
open
-
ended, flexible learning
experiences for students. The case provides an introduction and a learning vignette to set
the stage for the students. The student groups should carefully read the introduction and
the learning vignette. After reading these ar
eas, students should discuss the major issues
outlined in the introduction and learning vignette. The students are then faced with the
opportunity to develop possible solutions to the problems and opportunities outlined in
the case. In some cases, students

may find it necessary to seek information from some of
the resources listed in the case and are to contact Online Experts early in the opportunity
identification. There are no right or wrong answers in these exercises and it is expected
that multiple solu
tions will be developed by different groups. It is also suggested that
students not only look at the political, economic and social issues, but to dream about
future inventions and/or business opportunities that can derive from the case. The
challenge begi
ns with the following questions:


1.

What do you think?



2.

What solutions would you recommend if you were a member of this student
team?

3.

What new business ventures can be developed from this case?

After raising these questions, the students are free to begin
deliberations on possible
solutions to the case.



Core Concepts


Some of the concepts to be covered in this case are as follows:

1.

History of the oil business

2.

Sources of oil throughout the world

3.

Rate of oil consumption

4.

Politics of oil

5.

Price and allocation o
f oil

6.

Oil and world politics

7.

Power and influence

8.

Economic impact

9.

Oil and transportation

10.

Oil and war

11.

Other sources of energy




Learning Objectives


1.

Students will develop an understanding of the early history and development
of the oil discovery and
development process.

2.

Students will be able to identify major sources of oil reserves.

3.

Students will compare and contrast the economics of the oil production
process.

4.

Students will investigate and study the political ramifications of oil and the
role it pla
ys in the world.

5.

Students will investigate and understand the role of oil as a power negotiator.

6.

Students will understand the social, political and economic impact of offshore
drilling and of drilling in environmentally sensitive areas.

7.

Students will displ
ay an understanding of the business planning model,
including market research, product or service development, industry analysis,
organizational mission and vision, financial, and entrepreneurial thinking.

8.

Students will see the need to develop new sources
of energy.






Guiding Questions


1.

What would be in impact of a reduction in foreign oil supply in the United
States?

2.

What are the current sources of oil?

3.

What factors play a part in the price of oil?

4.

Are there alternatives to the use of oil in our economy? Wh
at are they, and
what are the economic, social and political impacts associated with each?

5.

What types of products and services would lower our consumption of oil?

6.

What is involved in bringing a new product or service to market?



Resources


The following r
esources are provided to help the student develop solutions to the case.
The student may also find it necessary to supplement these resources with additional
sources. The resources help connect the learning to the latest established research
literature.



O
il History


http://www.oilhistory.com



Petroleum History Institute

The Institute was founded in 2003 as a not
-
for
-
profit organization 501(c)(3). It is the
successor to the Drake Well Foundation which in its past
was a successor in 1951 to an
earlier operating committee formed by the American Petroleum Institute at the Drake
Well Museum. The Institute is dedicated to furthering public awareness of the history of
the oil industry through research, documentation, arc
hival activities, presentations and
other outreach activities. The Institute publishes an annual journal, Oil
-
Industry History
and reprints old and rare books on the industry. The Institute also holds symposiums on
oil history, conducts field trips and p
repares guidebooks.


http://little
-
mountain.com/oilwell



Blake Malkamaki

This index is a link to early petroleum history sites. It is an excellent resource for
historical review and impact and covers oil
development in several states and foreign
countries.



Oil Pricing



http://www.bloomberg.com/markets/commodities/energyprices.html



Bloomberg

This site provides regular update
s of energy prices, along with
instant access to real
-
time
and historical financial data. Bloomberg clients include the world's central banks,


investment institutions, commercial banks, government offices and agencies,
corporations and news organizations.


http://www.wtrg.com



WTRG Economics

This site presents analysis, planning, forecast and data services for energy producers and
consumers.


http://www.conoco.com/buy/postings/index.asp



Conoco

Crude Oil price tables

are presented.



Oil Policy


http://api
-
ec.api.org



American Petroleum Institute

The API was established on March 20, 1919, with the following stated goals:



to afford a means of cooperation with the government in all

matters of national
concern;



to foster foreign and domestic trade in American petroleum products;



to promote in general the interests of the petroleum industry in all its branches;



to promote the mutual improvement of its members and the study of the
arts and
sciences connected with the oil and natural gas industry.

With information about oil and natural gas for the general public, researchers,
newspersons and policy
-
makers, this is a good general starting point for research that can
go in multiple dir
ections.


http://www.oilhistory.com



Petroleum History Institute (See description above.)


http://www.csis.org/sei/event991208sAlNaimi.html



Cente
r for Strategic and

International Studies

For four decades, CSIS has been dedicated to providing world leaders with strategic
insights on


and policy solutions to


current and emerging global issues.



Sources and Production of Oil


http://www.pge.utexas.edu/reading/


Petroleum & Geosystems Engineering Reading
Room

at the University of Texas (Austin) College of Engineering

This is a collection of links and references from a broad range
of petroleum
-
related
topics.






http://www.chevron.com/explore/frame.html



Chevron USA

All aspects of oil exploration and production are clearly explained at this learning site
(excellent information).


HTTP://WWW.CHEVRON.COM/about/learning_center/crude/



Chevron/Texaco Oil

The many facets of oil production are explained here.


Oil Production in Other Countries


http://www.omc.rgu.ac.uk



Offshore Management Centre

The Offshore Management Centre is part of the Aberdeen Business School at the Robert
Gordon University in Aberdeen, UK. The Centre was established in 1993, to create a
knowledge
-
based resource for managers in the oil and gas i
ndustry.


http://www.apcrc.com.au



Australian Petroleum Cooperative Research Centre

The APCRC is a consortium of industry, government and universities that provides the
Australian oil and gas industry with ready a
ccess to cost effective problem solving in key
sectors of exploration and production.


Middle East Oil Production


http://www.arab
-
oil
-
gas.com



Arab Petroleum Research Center

The APRC, founded in 1965, is an in
dependent center for studies and publications on the
oil and gas industry covering the Middle East, North Africa, Sub
-
Saharan Africa and the
Caspian Sea region. APRC acts as consultant to Arab oil producing countries and
international oil and gas companies
.



Government


http://www.mms.gov/



The Mineral Management Service

MMS
-
Gulf of Mexico


http://www.gomr.mms.gov/homepg/offshore/deepwtr.html


http://www.gomr.mms.gov/navigation.html

(Gulf of Mexico)

MMS
-
Alaska


http://www.mms.gov/alaska/


http://www.mms.gov/alaska/kids/index.htm

(Alaska)




Environmental Issues


http://www.greenpeace.org/



Greenpeace

This site contains information about the environmental effect of oil
spills, such as that of
an oil platform that sank in deep water off the coast of Brazil.


http://greenpeace.org/pressreleases/arctic/1999oct21.html



Greenpeace

This article about dr
illing in the Arctic lays out the environmental consequences of such
actions.


http://www.greenpeace.org/~climate/arctic99/html/content/oldnews/news11.04.2
000.htm
l



Greenpeace (see above).



Print Materials


Research Articles, Books and Papers


Campbell, C. J. (2000).
The coming oil crisis.

Brentwood, England: Multi
-
science

Publishing Co.
-

This source provides the history and current status of the
importan
t oil industry and reviews the geological origins of oil and gas.
Assessments of how much oil and gas have been produced and what remains are
also discussed. Middle East impact is also discussed.


Lerche, I. ().
Economics of petroleum production, vol.1.

Br
entwood, England:

Multi
-
science Publishing Co.
-

This source is concerned with hydrocarbon
production economics and explores how risk should be managed so that desired
levels of profits can be maximized.


Odell, P. (1999).
Fossil fuel resources for the 21
st

century.

London: Financial Times

Energy.
-

This text provides a survey of the energy resources for the foreseeable
future and argues that there is not a supply crisis.


Odell, P. (2001).
Oil and gas: Crisis and controversies 1961
-
2001, vol. 1. (Global

Issues).

Brentwood, England: Multi
-
science Publishing Co.

-

This volume of
collected papers and essays charts the sequence of significant developments over
the past 40 years of gas and oil. The book also explores the economic and political
inputs to the g
lobal oil and gas industry’s organization and markets.








Odell, P. (2001).
Oil and gas: Crisis and controversies 1961
-
2001, vol. 2. (Europe’s

Entanglement).
Brentwood, England: Multi
-
science Publishing Co.
-

This second
volume looks at issues
surrounding oil and gas and a succession of fundamental
changes in European energy economy during the last 40 years. Reasons are
examined for why imported oil replaced indigenous coal as the primary energy
source in the early post World War II period.



Res
earch Papers on Fuel Cells


Some of the following are available on the Internet, as noted.


Haile, S. M., (November 25, 2003). Fuel cell materials and components.
Acta Materialia,


51
(19), pp. 5981
-
6000. AVAILABLE AT:
http://www.sciencedirect.com
.


Doran, P., Robeson, S., Wright, D., et. al. (July, 2003). Finance and the fuel cell industry:

A review of the current financing climate.
International Journal of Hydrogen
Energy, 28
(7), pp. 713
-
715. AVAILABLE AT:
http://www.sciencedirect.com
.


Mehta, V & Cooper, J. S., (February 25, 2003). Review and analysis of PEM fuel cell

design and manufacturing.
Journal of Power Sources, 114
(1), pp. 32
-
53.
AVAILABLE AT:
http://www.sciencedirect.com
.


Ormerod, R. M. (January, 2003). Solid oxide fuel cells.
Chemical Society Reviews,

32
(1), pp. 17
-
28. AVAILABLE AT:
http://www.rsc.org/CFmuscat/intermediate_abstract.cfm?FURL=/ej/CS/2003/b10
5764m.PDF


Stambouli, A. B., Traversa, E., (October, 2002). Solid oxide fuel cells (SOFCs): A review

of an environmentally clean and efficient source of energy.
Renewable and
Sustainable Energy Reviews, 6
(5), pp. 433
-
455. AVAILABLE AT:
http://www.sciencedirect.com/
.


Acres, G. J. K., (NOV 30, 2001). Recent adv
ances in fuel cell technology and its

applications.
Journal Of Power Sources, 100
(1
-
2), pp. 60
-
66. AVAILABLE AT:
http://www.sciencedirect.com
.


Carrette, L., Friedrich, K. A., &

Stimming, U. (December 15, 2000). Fuel cells:

Principles, types, fuels, and applications. Chemphyschem 1 (4), pp. 162
-
193.
AVAILABLE AT:
http://www3.interscience.wiley.com/cgi
-
bin/jtoc/72514732/2000
.




Business Support Materials


These sources are non
-
technical and will provide the student with information about how
to build a business plan around their ideas for case solutions.


Allbusiness.com


http://allbusiness.com/

One of the most comprehensive sites on the Web for small and growing businesses, this
site offers over 2000 articles, “how
-
to’s,” forms, agreements, questions
-
and
-
answers,
solutions, and services useful to those starting a n
ew business venture.


Bloomberg.com


http://www.bloomberg.com

One of the leading sites for breaking financial news, investor tools and data,
Bloomberg.com gives access to business information, including the latest

data and
analytical tools.


Bplans.com


http://www.bplans.com

Bplans.com offers a large collection of free sample business plans online and helpful
tools and know
-
how for managing a business. The site includes prac
tical advice on
planning, interactive tools, and a panel of experts available to answer specific questions.


The Business Forum Online



http://www.businessforum.com

This service springs from a weekly newspaper

column addressing issues and questions of
specific interest to entrepreneurs and emerging businesses. Each column focuses on the
immediate consequences

of the issue to the owner/manager of the emerging business.


MoreBusiness.com


http://www.morebusiness.com


MoreBusiness.com, a comprehensive resource for small businesses, contains tips,
articles, ideas, templates, worksheets, sample business plans, tools, financial benchmarks,
sample contracts, and websites.


These business sites may offer some ideas and provide some review articles. Some sites
may require a fee. Or you may wish to use the Library for paper copies of current and
past articles.


Wall Street Journal
-

http://www
.wsj.com/



Fortune
-

http://www.fortune.com/



Harvard Business Review
-

www.harvardbusinessreview.com/





Businessweek.com
-

http://businessweek.com/

The website of the weekly business magazine, this site offers news and related
information for the entrepreneur. An archive of articles is also provided. Some services
may require subscription.


www.uspto.gov

-
Patent and Trademark Office


www.sba.gov/ADVO/stats
-

SBA Office of Advocacy
---

Economic Statistics and Research


http://w
ww.sba.gov/

-
SBA Small Business Administration
---

SBA Support in starting, financing and managing a business


www.bizoffice.com

-
Small and Home Based Business Links

Provides support services for home
-
based companie
s.


www.sbaer.uca.edu
-

Small Business Advancement National Center
---

Resources include newsletters, archives, SBA and other Government sites and related
affiliates.


www.bizp
lan.com
-

Strategic Business Planning Co.
---

The mission of the Strategic Business Planning Co. is to help organizations define their
mission and achieve their objectives by developing business and strategic plans and by
periodically conducting a comprehens
ive review of the environment in which they
operate.


www.business.gov
-

U.S. Business Advisor
---

U.S. Business Advisor


a one
-
stop electronic link to the information and services
government provides for the
business community

Laws and regulations, forms and
support services.


www.census.gov
-

U.S. Census Bureau
---

Resources include population census, economic data, Business surveys, and other related
Bureau statistics.


http://www.dowjones.com

-

Dow Jones


Latest financial information about stock
market performance.






www.benlore.com

-

The Entrepreneur's Mind

The Entrepreneur's Mind is a W
eb
-
based resource that presents an array of real
-
life
stories and advice from successful entrepreneurs and industry experts on the many
different facets of entrepreneurship and emerging business.


www.entrepr
eneurmag.com
-

Entrepreneur Magazine
---


Provides solutions for growing businesses


www.engeniussolutions.com
-

Engineering projects

Provides information about new products and ideas (some student developed).



Online Experts


The Online Experts play an important part in the PBL model, because they connect the
learner with an experienced person in the field related to the case. Selecting these
individuals is critical to the success of the program, in that they

must be willing to
respond to students’ e
-
mails, telephone calls, and/or have meetings with students. Online
Experts will be selected at the time the case is implemented in order to be current and to
connect to the local environment.


Professors of Engine
ering

Marketing Professional

Legal Advisor

Accountant

Government Environmental Officials

Mayor of Anchorage, AK

Oil Company Representative

Oak Ridge National Labs



Online Resources and Video Clips

(Under development) Available at:
http://entrepreneurship.vanderbilt.edu





Implementation


Usually the class is divided up into teams of 4
-
5 people, who are given an opportunity to
review the
Entrepreneurs in Action!

exercise and to dev
elop strategies for solving the
situation or to see new ventures. Thus, students work together in small groups and learn a
wide variety of skills related to teamwork development, problem identification, resource
analysis and synthesis, product or process i
dentification, potential market development,
the application of cross
-
disciplinary thinking, product and process cost analysis, and


written and verbal presentation skills. In this model, the case presents the students with an
unresolved issue, provides som
e resources and permits the students to take charge of their
own learning and to develop a new business venture out of the given situation.



Introducing Cases


Several methods may be used to introduce the
Entrepreneurs in Action!

cases to the class,
as fol
lows:


1.

Divide the class into groups and to present the case to each group and permit
limited discussions between groups.

2.

Permit a selected number of students to role
-
play the scenario as a way of
introducing the case.

3.

Fishbowl. A small group of students
may be requested to sit in the middle of the
room and to discuss topics related to the case. The other students would observe
and would synthesize the events afterwards.

4.

Students may also be shown selected video clips to start the entrepreneurial
thinking
process. Some video clips are “The Triumph of the Nerds” series, the
“Apprentice” show, the “October Sky” movie, “Pirates of Silicon Valley” movie,
the “Seabiscuit” movie, or the Public TV version.



Student Activities


Students are expected to participate
actively in their groups and to contribute to
developing creative ideas for possible business ventures. In doing so, students may be
required to learn through reflections. Students can be required to keep a journal of the
activities of each group meeting a
nd to record his or her thoughts and comments about
the process. Students may also use concept mapping to study the issues and track
progress development. IHMConcept Map Software is available free at
http://cmap.coginst.uwf.edu/docs/.



Products


The final
products to the cases are usually a written business plan and a final oral
presentation. The final oral presentation can be given to different groups, such as the
local Chamber of Commerce, other business and civic groups, a panel of Online Experts
and/or
to the class. A rubric is used to judge the creative and entrepreneurial ventures and
grades are assigned based on the rubric evaluation. The development of the final product
usually follows the outline below.





Phase One


Doing the Research

Write a positi
on paper on the role of oil in energy policy, with particular emphasis on the
current national and international problems of shortages and rising prices. Discuss the
societal and market forces that have an effect upon the issue. Identify a certain area o
f
the problem space that interests you.



Phase Two


Find a Solution

Working in groups, brainstorm the development of a range of products, services and
policies that would contribute to the solution of the problem issue. Your group should
then choose one
product or service for further development as a contributor to the overall
solution of the problem. Fully expand upon the product or service, explaining in detail its
design rationale, creation and implementation. Keep in mind that the project must be
ma
rketable and must be financially self
-
sustaining. Develop your group’s business plan
and presentation format.



Phase Three


Taking it Public

Present your group’s solution to a team of peers, educators and experts in the field. You
will submit to their e
valuation, just as you would do in actual practice. You should
employ a variety of presentation techniques, including a written business plan, handouts,
and computer
-
based presentation.



Assessments



Formative


1. Weekly logs


Students will submit a
summary of their activities on a regular basis, the frequency of
which will be decided by the instructor. The students should include a concise
description of the activities and an analysis of their effectiveness. It is suggested that the
summary of activ
ities be part of a computer managed instructional program such as
Prometheus, Blackboard or others. This allows the instructor and student groups to
monitor their weekly progress.


2. In
-
class observations


Instructors will observe group work and interact

in the role of facilitator as needed.






3. Position Paper


The paper required in Phase One will be graded for critical thinking and analytical
substance. Instructors will also use the papers to assist in forming like student groups.


4. Teams of peers

and visiting experts will evaluate the final presentation for content and
appearance of the final product.



Summative


1. Business Plan Evaluations


Instructors will evaluate the completed business plans for accuracy, content, breadth,
depth, and profess
ional appearance.


2. Presentation Evaluation


Instructors will assess the professionalism of the final presentation, taking into account
the content and appearance of the final product.



References


Bishop, S. (June 17, 2004). ANWR has left the house
.
Fairbanks News
-
Miner
.

AVAILABLE AT:
http://www.newsminer.com/Stories/0,1413,113~7244~2218255,00.html



Economist. (October 25, 2003). The end of the oil age; The future of energy.
Economist,


v. 369
, p. 12.


Energy Information Administration (May, 2004). Monthly Energy Review.


AVAILABLE AT:
http://tonto.eia.doe.gov/oog/info/twip/twip_gasoline.html


Dunn, S. (2002). Hydrogen futures: Toward a sustainable energy system.
International


Journal of Hydrogen Energy, 27,
pp. 235

264.


MacLean, H. L.& Lave, L. B. (2003). Evaluating automob
ile fuel/propulsion system


technologies.
Progress in Energy and Combustion Science, 29
, pp. 1

69.


Maugeri, L. (May 21, 2004). Oil: Never cry wolf


why the petroleum age is far from


over.
Science, v. 304
, pp. 1114

1115.




Ogden, J. M., Williams, R. H.
& Larson E. D. (2004). Societal lifecycle costs of cars with


alternative fuels/engines.
Energy Policy, 32,
pp. 7

27.


Skinner, C. W. (August, 1995). Measuring dependence on imported oil.
Monthly Energy


Review, August, 1995
, pp. ii

iii.


Zhang, Y., Dubé, M.A., McLean, D.D. & Kates, M. (2003). Biodiesel production from


waste cooking oil: 1. Process design and technological assessment.
Bioresource


Technology 89
, pp.1

16.



This work is part of the Forum for Entrepreneurship Education at Vanderbilt
University and was support in part by The Coleman Foundation Inc.
--

Grant number
4446
--

Entrepreneurs in Action!, and The National Science Foundation under Grant
No. 0091632 and ot
her related funds. (Any opinions, findings, and conclusions or
recommendations expressed in this presentation are those of the author(s) and do not
necessarily reflect the views of the National Science Foundation).
wil.clouse@vanderbilt.edu