Electronic Money and Its Impact on Central Banking and Monetary Policy

Electronic Money and Its Impact on Central Banking and Monetary Policy â€Å"The term [electronic] money refers to various proposed electronic payment mechanisms designed for use by consumers to make retail payments. Digital money products have the potential to replace central bank currency† (Berentsen 1). This quote indicates that the advent of electronic money will have an impact on the banking system and monetary policy. While this topic is controversial it seems obvious that some changes will result and that there is no prefect answer to predict this new instruments affect on monetary aggregates and the role of central banks. Its growth will be based on many things: future technology, increased security, regulation, and ease of conversion. It can impact such variables as monetary supply, exchange rates, the money multiplier, velocity of money and seignorage. Increased reliance on electronic money as a substitute for currency will directly affect the central bank and its control over monetary aggregates and policies. Electronic money is the money balance recorded electronically on a â€Å"stored-value† card (Ely 1). These cards, â€Å"smart cards,† have a microprocessor embedded which can be loaded with a monetary value. Another form of electronic money is network money, â€Å"software that allows the transfer of value on computer networks, particularly the internet. Like a travelers check, a digital money balance is a floating claim on a private bank or other financial institution that is not linked to any particular account† (Berentsen 1-2). This money is issued by both public and private institutions worldwide and is raising concern about the future ability of central banks to set money supply targets. It is widely used in... ... Money and Monetary Policy: Separating Fact from Fiction.† The Future of Money in the Information Age, CATO Institute’s 14th Annual Monetary Conference. 23 May 1996. CATO Institute, 25 Nov. 2002 http://www.cato.org/moneyconf/14mc-2.html Seign, George. â€Å"E-money: Friend or Foe of Monetarism.† The Future of Money in the Information Age, CATO Institute’s 14th Annual Monetary Conference. 23 May 1996. CATO Institute, 25 Nov. 2002 Rahn, Dr. Richard W. â€Å"On the Future of Electronic Payments.† CATO Congressional Testimony. 19 Sep. 2000. CATO Institute, 25 Nov. 2002 Berentsen, Aleksander. â€Å"Digital Money, Liquidity, and Monetary Policy.† 1997. First Money, 25 Nov. 2002 http://www.firstmonday.dk/issues/issue2_7/berentsen/

Analysis of two poems; Prayer Before Birth and Easter Monday Essay

Analysis of two poems; Prayer Before Birth and Easter Monday In this essay I will be analysing two poems. Both poems reflect upon the theme of war. I will be analysing them through their meanings, forms and show how the poets use language to express their ideas and feelings. I have decided to look at the poems Prayer Before Birth by Louis MacNeice and Easter Monday by Eleanor Farjeon. Louis MacNeice was born in 1907, he died in 1963. His mother died when he was young and her death got to him deeply. He studied at Oxford and was one of a group of poets here who became famous. He was intensely affected by the political events of the 1930’s and also by the Second World War. This poem is about an unborn child praying that it should be born into a good world. The only verse which provides images of this good world is verse number three and the images of goodness are linked to nature; water, grass, trees, sky and a white light to guide him. All the other verses are filled with images of a world of hostility, repression, distraction and many of them refer to things that ...

Financial aid Essay

REGISTRATION ?THERE IS A COMPULSORY FIRST YEAR SEMINAR THAT ALL FIRST YEAR STUDENTS MUST ATTEND PRIOR to the date of registration. The first year seminar dates will be communicated to you during November 2014. Failing to attend the first year seminar may lead to your space being allocated to another applicant. ?YOUR DATE OF REGISTRATION WILL BE COMMUNICATED TO YOU DURING NOVEMBER 2014. YOU need to register before or on the specified registration date. If you miss this specific registration date, your study space can no longer be guaranteed as we may then  allocate the space to another applicant. Registration dates can also be found on the UJ website at www. uj. ac. za from December 2014 onwards. NATIONAL BENCHMARK TESTS You are required to complete the National Benchmark Test. For more information please go to http://nbt. ac. za or contact the NBT Call Centre at 021 650 3523. FEES Information on tuition and other fees due for 2015 will be available during November 2014. Please visit the UJ website at www. uj. ac. za for more information. BURSARIES Academic merit bursaries are awarded on the grounds of exceptional grade 12 results. Please visit the UJ website at www. uj. ac. za for more information. NSFAS (NATIONAL STUDENT FINANCIAL AID SCHEME) The closing date for the NSFAS loan applications is 1 October 2014 and all enquiries in this regard can be made to nsfas@uj. ac. za RESIDENCE Admission to the University does not guarantee admission to the residences. If you applied for admission to a residence, you will receive a separate letter in this regard. AGREEMENT AND INDEMNITY  ?YOU WILL BE REQUIRED TO COMPLETE, SIGN AND SUBMIT A FORMAL AGREEMENT (INCLUDING AN exemption and indemnity) with the University when you register. ?IF YOU ARE UNDER THE AGE OF 18, A PARENT OR GUARDIAN MUST SIGN THE REQUIRED FORM. ?YOU WILL BE REGISTERED ON THE STRICT UNDERSTANDING THAT YOU AGREE TO ABIDE BY THE Student Charter rules and the Academic Regulations of the University of Johannesburg and of the faculty. ? YOU UNDERTAKE TO PAY THE PRESCRIBED FEES AND ACCEPT THAT YOU ARE BOUND BY THE provisions of the formal agreement. Sincerely, Student Enrolment Centre 011 559 4555.

Philosophy Reflection Paper Essay

The Oxford English Dictionary defines philosophy as â€Å"Knowledge, learning, scholarship; a body of knowledge; spec. advanced knowledge or learning.† By this definition we can gather that philosophy is, essentially, the pursuit of knowledge or understanding on a much higher level than usual. In the following paper I will present my views on philosophy as a whole by examining what I believe philosophy is supposed to do, as well as how it can benefit the life of any individual willing to invest time in it and the societies that promote such thoughts. Ever since its very beginnings in 6th century BCE, philosophy has been used as a tool to help better understand complex questions regarding logic, knowledge, truth, and even human existence itself. I have long considered philosophy to be a method of deeper understanding when it comes to the human life. Why is this? Perhaps it is because a large part of philosophy is focused on argument, debate, and overall interaction with fellow humans, as opposed to other methods that do not focus on these aspects. It is my belief that if we were to attempt to answer by ourselves the difficult questions life poses, then our lives would be very dull and difficult to properly question. Allow me to expand on what I briefly mentioned at the end of the previous paragraph. Each and every one of us is, in my opinion, a prisoner of our respective perception. From birth our minds are plagued by outside influences that shape our mind regardless of how much we try to avoid it. These influences can take on many different forms such as: media, parents, teachers, etc. What ideologies these influences plant in our minds also depends on a number of variables such: nationality, class, race, etc. This, in turn, leads to bias and prevents anyone from being 100% subjective in any matter. We cannot know any one thing or pass off one of our perceptions as absolute truth. In fact, what you are currently reading is only my interpretation of what I have perceived. Therefore, the only way to truly gain an improved understanding of our life and the world we live in is to explore our different perceptions by sharing and challenging these views with others in debate and/or argument. As Socrates once said, â€Å"The unexamined life is not worth living.† In other words, if you are not going  to break out of your own prison of perception, then your life will be bland and very difficult. Approaching matters in a philosophical fashion is great for people as individuals, but it is also extremely important in societies as a whole. When members of a particular society strive to be thoughtful of their own views instead of just bashing the views of others, then there is an increase of tolerance and open-mindedness. Through this tolerance the society can then obtain a higher sense of fraternity and respect for one another. Societies that promote debate and an open-minded outlook tend to be more democratic and infringe on the rights of the people less. Take Ancient Greece for example, Ancient Greece is where philosophy was born and just also happened to be unlike any other society at the time. Slavery did exist and the women were not considered true citizens, but when compared to other, much more tribal cultures at the time, the Greek people experienced a freedom unheard of in any other part of the world. Modern countries would do well to incorporate philosophy in areas such as: government/politics, education, etc., and thankfully many do. Given the topics discussed in this paper, I find it hard to believe that the introduction of philosophy into one’s life would not be beneficial in many ways. Analysis and consideration of all views, the careful contemplation of oneself and the environment around them, and the intellectual freedom and open-mindedness that such a practice lends to the societies it is promoted within. I can say with confidence that I believe philosophy is an integral part of human life and should be promoted on an international scale in order for countries to work together to logically solve global problems. â€Å"Philosophy is the highest music.† – Plato â€Å"Philosophy.† Def 1. Oxford English Dictionary. 2nd ed. Draft Revision Sep. 2010

BrownGirl Brownstones

The prose fiction Brown girl, brownstones by Paula Marshall, is a bloodcurdling with autobiographical elements, tracking the life and experiences of the main protagonist, Salina Boyce and the family and friends in her life. Marshall uses various elements and techniques in the prose, to bring about different themes, characteristics and aspects in her novel. The text is set mainly in the sass's Brooklyn, New York, at a community of brownstone houses occupied by the Baja immigrants.Though there are various perspectives of other personae in the prose, Marshall uses a third person reiterative to show the first person perspective of Salina. The story begins with Salina at ten years old and continues until she is no longer a minor. It shows the theme of identity as Salina is trying to find who she is amongst members in her family. â€Å"But they have taken no photographs†¦ † Was one of the first time Saline's loneliness can be seen in the text. She is Jealous of the fact her par ents took photographs of the family before the death of her infant brother, yet took no keepsakes of hers.Then it goes on to where Marshall is a very descriptive narrator, using a cinematic effect in her story ailing. The scenes shift continuously to suggest simultaneous action which produces a dramatic effect that helps to build conflict and suspense. She also uses devices and diction to bring about various themes and symbolic elements in her text. She uses the technique of epigraph to start each chapter, it is a type of foreshadowing, hinting of what will happen throughout the chapter. It also helps to characterize individuals in the story.Contrast is also a reoccurring technique in the text, as characters such as Sills and Tighten, Nina and Salina, have contradictory personalities. There is also introduction in the symbols and diction in the text. Words such as ‘winter' and ‘Sun', ‘darkness' and ‘light', are contradictory symbols referring to the character istics of individuals such as Saline's parents in the text. The writer involves the use of the Baja dialect as well as English, as if trying to incorporate the reader in the culture of Barbados and also add credibility and realism to the story.It suggests pride in the Baja culture. The author uses various figurative devices in the text. There is a heavy focus on the use of personification and architectural imagery. Symbolism is evident n the prose; using colors such as red to represent romance and sexual relationships; and white, and brownstones to represent upward mobility, status and unattainable goals. Land in the text is also symbolic of independence and opportunity. The use of conflict, such as; mother-daughter, husband-wife, black-white, is brought out by the symbols and conflicting elements in the prose.It shows the destruction in relationships, and accentuates climatic moments, such as when Tighten, used the money Sills stole from him, or when Silent told the whole Baja asso ciation, she'd tricked them. Marshall uses devices such as; imagery, epigraph, motif, reasoning, pathetic fallacy and biblical allusion, to show racism, identity, women in society, family, deceit, and various other themes in the prose fiction. The denouement, begins with Silent recognizing who she is and making final decisions for herself.After all her trials and lost relationships, she finally covers her identity, accepting who she has become, the trials she is yet to face and the people in her past who has made her who she is today. Especially her mother, whom she had always fought against. Rational The life of Tighten Boyce, was the subject chosen for the poem between many view Tighten as a problem in the text Brown girl, brownstones, giving him no sympathy. The poem was intended to convey sympathy for Tighten.His life in the poem is specifically intriguing as though he causes many shifts in characteristics of others in the text, his own life is not emphasized. The poem will hope fully give an explanation of the circumstances surrounding the issues of Tighten death, and his life. Mocking Jay I saw a song bird fight a bird of prey, Beautiful-ugly, he was, filled with sorrow, was she. Night and day, He sang a tune of love and wonder, She sang back of vices and plunder, I tried to save that mocking Jay, But the night stole him away.Where are you my mocking Jay? Trapped in the tomb of brown stones? Your young are calling, where are you? Won't you fight the snow away? Don't you hear the light's moans? Has she trapped him too? No longer perched on your window sills They've clipped your wings You've destroyed their prison The flock screams their Baja banter Fly away home my mocking Jay Swim home my song bird But, mocking Jay's never dive†¦ I'll send a new light your way†¦ For you to see through winter's clock†¦ To save your flock†¦ To blind your eyes†¦And save you from the dark†¦ Shattered tunes of my broken song bird Remember your pra yers Eulogy. The sad broken memory. The life you ran away. Dead like marrow staining the asphalt. Staining corals a sea away. Songs long dead, I'll sing them to you. I'll pray your tarnished soul away. Tighten, my mocking Jay. Analysis The poem â€Å"mocking Jay†, is a kind of stanza elegy, in tribute to a character in the prose text â€Å"Brown girl, Brownstones†. The poet uses the mimicking bird, mocking Jay, to represent the character Tighten in the prose text.Not only do mocking Jays have a gift in music, which was one of the professional genres Tighten attempted, but hey repeat everything sung to them in a mocking manner. Tighten, like these birds, reflects a mocking version of the negatives surround him; from using the money his wife stole from him, to purchase frivolous gifts to spite her; to changing his course of study every time he is confronted with racism or barriers. Tighten also has the dream like (surreal), and fun loving attributes common to these birds .The poem comprises of four sestets, a couplet a single line and a septet. The stanza formation, is quite symbolic. The first stanza is the first of the four sestets. At the end of each sentence in this sestets is a comma. This represents the fact that this relatively pleasant chapter in his life is not yet complete, it won't end in a ‘happy ever after'. It is as if to say that the beginning of their relationship was an unfinished dream. The second sestets ends in a question within, as if questioning the relationship, not understanding the change in the relationship and in Sills.The third sestets ends without punctuation is representative to all the times Tighten and the audience were waiting to see Sill's response to sightings behavior. The final sestets concludes with â€Å"structured-chaotic† punctuation, of when Sill's revenge unfolds it was chaotic n the circumstances of deportation, but structured in that it was her plan all along. Combining with the lack of punct uation, the couplet of stanza five signifies his never ending pain. It symbolizes that, as the lack of punctuation prevents the sentence from truly being complete, his pain and suffering will not end even in the afterlife.The single line consists of one word â€Å"Eulogy†, this refers to the speech given at a funeral or a recollection of the past doings of an individual after he is dead. This word being the shortest stanza, represents the lack of quality and memorabilia Tighten has left behind with his children. The final stanza a sestets can be tied to the biblical representation of the day God rested. The number seven represents the change that occurs after an accomplished cycle. Tighten, accomplices all he could so the last stanza represents his death the final rest he accomplished after his life cycle.The poem has a steady rhythms. Though not all stanzas have a structured rhyme scheme, the poem still flows as if it does. It is like the steady yet unusual flow of life, Jus t as the poem is a depiction of Digestion's life as was represented in the rose fiction. The first stanza contains a set of rhyming couplets, repeating the first rhyme in the last stanza (an â€Å"a, a b, b a, a† format). The last rhyme however is a forced rhyme, this is there to show that leaving the omnipresence was not something the Jay wanted, but was what was forced on him.The second stanza consists of alternate rhymes that emphasize the questioning in this stanza, that he is running alternate scenarios in his mind as to why the wife who used to love him hates him so much now. The fourth sestets has the last rhyme, â€Å"clock† and â€Å"flock†. This symbolizes hat the time he has left with his children is limited as his death is nearing. The rest of the poem is rhyming going parallel to the pores fiction as explanations are revealed in the story, the confusion and rhyming stops.The poem commences with the omnipresent narrator giving a visual imagery of the meeting between two contradicting birds. The â€Å"song bird† represents something happy, passive and peaceful, while â€Å"bird of prey† represents something sly, dominating and warlike. The story continues with oxymoron inverted syntaxes of line two, that helps to emphasize that the creatures have contradicting personae and that their union could ever last as it was based on confusion. Just as in the prose fiction, Sills thought she could turn Tighten into someone he wasn't, and failed.The diction used in the first stanza such as; â€Å"vices†, â€Å"Jay† and â€Å"Night†, aid in displaying the theme of conflict in relationships. ‘Vic's' is the Latin word for change, in reference to the context it highlights Sill's need to change her husband's persona and fight to create a life for them that he never wanted. The capitalization dif words such as Jay and Night, personify these nonhuman objects, in the case of the Jay it helps to emphasize th is Ewing a character trait of Tighten, while the Night highlights Sill's character as bright cold and heartless, but at that time seeming beautiful and peaceful.Lines three and four of the first stanza also help to concretion the theme of contradictory persons in relationships, displayed in the first stanza. Stanza two is a rhetorical question sestets, it constantly asks questions the Jay' is obviously unable to answer, and these are symbolic of the time where the relationship between Sills and Tighten was confusing. He didn't know where she stood, whether still in love with IM or hating h for the injustice she believes he did to their son, the first line emphasizes this.It follows with a reference to the brownstone house Sills spent a majority of the text fighting to obtain. The use of diction such as â€Å"prison†, â€Å"brown†, and â€Å"stones† was a slight pun as a Jay would find a house made of stones a prison, and Juxtaposed with the text, it can be said that Tighten saw the house his wife fought so much for was like a prison to him, and a symbol of his failures in his relationships and providing for his family. Line two is the first and only mention of their children in the poem.This is symbolic as it shows that not only did Tighten not spend enough time with them and focused more on himself, but he also failed as a father in that he couldn't protect them from the â€Å"snow† which is a personified symbolism of his wife. The personification of the ‘light', at the end of the stanza references all the happiness and innocence still in the family. When the persona asks about the moaning light that ‘she' has trapped it means that he was unable to prevent the happiness and life from leaving their family, this aids in uncovering the themes of failing one's family and loosing things that are important.The third stanza has the most textual allusions, the stanza opens with a pun, â€Å"window sills†. As a bird a sil l is somewhere you can rest, be at peace like a home, in this means Tighten no longer feels at home in the browns stones. Sills is also the name of his wife so it can mean that he is also no longer feeling happy in his marriage, as shown in the text queen he began going you the house form his mistress in the nights. â€Å"They've clipped your wings† line two of the stanza refers to when he almost got his arm amputated due to his indolence.This is symbolic as it is a physical representative ND slight foreshadowing of how his time was ending. The next line refers to the song they sang to him at the wedding. The ‘f†, ‘s', ‘the' and ‘b' fricative and plosive so funds of the fourth line in the third stanza, emphasizes the running and the drama happening in that scene of the text. The ‘swim home' in the last line of that stanza references the Caribbean since Islands in the Caribbean are surrounded by water. The last sestets refers to the last act ions before Digestion's death.It starts with a pun, on Digestion's childhood, as he dived for the coins white men through at him, and also an allusion to him diving to his death. The ‘new light' is symbolic for Digestion's religious period, where the movement of the new light helped him to finally discover himself, though completely swiping his personality. Winter's clock' is symbolic for Digestion's attempts at going back in time to rectify the problems mainly caused by his relationship with his wife.The couplet, single line and septet, is after his death. People have pained cries due to morning Digestion's death. The mansion of Prayers refer to his newfound beliefs and Eulogy is the speech given at a funeral. The final stanza is technically the omnipresence's eulogy for Tighten, though it shows that he s not someone people will remember with respect. It speaks of how he could have had a life if he'd made different choices. It gives an image of his death at sea, and its conne ction to his past in the Caribbean.It then shows the general sadness surrounding his death, and accentuates the theme of death in the text. The poem changes from a tone of observation, to unease, to sadness. Hopefully bringing out an overall sympathy for the persona. Though it is not a total rhyming poem, it still has a flowing rhythms that showcases the life cycle of Tighten, as shown in the text. Conclusion The text Brown girl, brownstones, is an excellent depiction of women and men in immigrant communities.Most persons generally sympathize with the women of these communities, however this poem has hopefully garnered a positive response to men in these communities, and those shown in the text. This may help persons to recognize that women were not the only ones with problems in the text. The blame for these conflicts also, should not be solely the fault of males like Tighten, in the prose, but equally shared between each individual, and characters in the prose fiction.

History of Work Force Monitoring and Surveillance Essay

The extent to which organizations monitor their employees reflects a lot about how the organization perceives its employees. Workforce surveillance entails email and internet monitoring, gathering of personal data, biometrics, local tracking as well as covert surveillance. Studies show that surveillance has been a part of organizational routine since time immemorial and that surveillance can take technological and social forms. There are varied reasons as to why companies would want to monitor their employees (Adams, et al. 200). Technological advancement has over time revealed many loopholes through which valued company records such as client data can be accessed illegally. On the other hand, the Federal Trade Commission of the United States established the Safeguard Rules that seek to protect client information against any physical and technical threats so to retain confidentiality, integrity and privacy of such data. Most companies thus install surveillance systems to help them comply with the federal law since it is hard to trust every employee. Workforce surveillance also helps in protecting the organization against legal liabilities. Monitoring facilitates for the individual protection of employees by eliminating or reducing any occurrence of harassment in the work force. Electronic surveillance has for instance enabled organizations to protect their assets, reduce misuse of company resources an in avoiding any legal liabilities. According to a 2001 work place surveillance and monitoring report by the American Management Association, 82% of organization use electronic surveillance and that close to 14 million employees in U. S are under surveillance (American Management Association, 2001). Some legal procedures have been put forward to justify surveillance. The Defense Counsel Journal argues for surveillance by outlining employer rights for monitoring such as: work quality; use of the employer’s equipments; fraud and theft concerns; and the fact that the employee is within the company vicinity (Kirstie, 2010). Surveillance could have consequences on employees and some of the consequences could be detrimental to the organization. Surveillance can affect the work culture, the well being of employees, productivity, motivation and creativity. However, reasonableness is paramount in the whole process of workforce surveillance. The question of respect for employee rights to privacy disqualifies surveillance to some extent such that the whole process seems to be unethical. Legal advisors note that it is extremely important that employees get to know that the surveillance is part of the company routine and that employee consent matter a lot. Reasonable monitoring and surveillance protects important company information, enhances compliance with federal law, protects employee rights, and improves productivity and the work environment. However, it is essential that organizations balance between their monitoring needs and employee privacy.

Mass and Energy Balance Essay

Abstract The objective is to produce a proposal for a chemical process plant which will be able to produce 550,000 tonne/year ammonia using LPG as the raw material. Different processes where researched and then finally one was picked, steam reforming. This was decided to be the most viable and cost effective process using the raw materials we had available. The report explains in detail how the process works and all aspects of how the plant will work including the mass and energy balance across the plant. What is Ammonia Ammonia (NH3) is a stable compound and is used as a starting material for the manufacture of many important nitrogen compounds and can also be directly used as fertilisers. It is produced by reacting hydrogen and nitrogen. It is a colourless gas with a sharp odour. The boiling point is -33.35oC and its freezing point is -77.7oC.1 Care must be taken when handling ammonia as can cause deep burns in the skin; irritation in the eyes and nose and when inhaled can cause coughing, sore throat and headache.2 There are different methods for the manufacture of ammonia. The three main methods are steam reforming, partial oxidation and electrolysis. Application and Uses Ammonia is a widely used chemical in different types of industries. One of the main user of ammonia is the agricultural industries for fertilisers. Around 80% of ammonia produced is for fertilisers such as urea, ammonium sulphate and ammonium nitrate.3 It is also used as a building block for nitrogen containing compounds like nitric acid (HNO3). It is also used in the fibres and plastics industry for the production of acrylonitrile, melamine etc., and manufacture of explosives. Ammonia is also used in water treatment such as pH control and also in combination with chlorine to purify industrial and municipal water supplies. Less commonly uses include as a refrigerant in compression and absorption systems, manufacture of household ammonia, in the food and beverage industry 4. Figure 1: Pie chart showing the uses of Ammonia. Market Trends Globally ammonia prices have been headed up due the large demand of fertilisers that are needed in the crop production to obtain high yield6. The current selling price of ammonia in Europe goes up to $600 per tonne7. Figure 2: Shows the global demand for Ammonia (D.a.NH3- Direct application of Ammonia) As we can see from the chart the trend of ammonia demand globally is upward. It is said that the global ammonia market is to generate revenues of approx. US$102 billion in 2019. As there is continous growth in population in the developing countries the likely to cause demand for foodstuffs are to increase even further. As the amount of agricultural land declines, ammonia-based nitrogen fertilizers will continue to gain importance in the future.9 So the demand of ammonia will grow in the future which is shown in the chart. Processes There are many different processes involved in the ammonia production. The most common processes for ammonia are partial oxidation, steam reforming and electrolysis. From these 3 processes the best process route is then selected and that process would be most economical and that meetes the design brief. Partial Oxidation Partial oxidation involves the reaction of oxygen with fuel to produce hydrogen. The following equations represent the partial oxidation of ethane, propane, butane and pentane. 10 C2H6 + O2 2CO + 3H2, C3H8 + 1.5O2 3CO + 4H2, C4H10 + 2O2 4CO + 5H2, C5H12 + 2.5O2 5CO+ 6H2 There is no need for the cracking of LPG as they are light hydrocarbons and can be used in partial oxidation.11 See Partial Oxidation flow sheet (Reference 1: Partial Oxidation Flow Sheet) Hazards and Environmental Impact The main emission is carbon dioxide which is a greenhouse gas and Partial Oxidation process emits more carbon dioxide compared to Steam Methane Reforming. Carbon dioxide emissions can be reduced by recycling it and selling it to urea and nitro-phosphate plants.13 No ammonia should be present in the air but maybe because of faulty equipment and maintenance activities, some ammonia maybe released. Ammonia becomes explosive at the 16%-25% volume in air which could occur if there are any leakages in the ammonia storage facilities. It is also toxic by inhalation and pulmonary oedema can occur up to 48 hours after exposure and could be fatal.12 Nitrogen dioxide that is released is a toxic gas can be harmful when inhaled but can be avoided as can be detected because of the smell. The large amount of waste water from this process is another problem but there is a river near the Milford Haven site. Also water pollution is a concern which may occur because of the suspended and dissolved impurities. It could also affect the aquatic life. Therefore the water must be treated in a full three stage water treatment plant before disposing it. 13 The disadvantage of partial oxidation is that the capital costs are higher for partial oxidation compared to any other process. It is estimated to be  £100-120 million for an annual production of 7.7 million GJ while for SR it will only be  £70 million. 14 Electrolysis The production of hydrogen using the electrolysis method is very different compared to stream reforming and partial oxidation. Electrolysis produces hydrogen by splitting water into hydrogen and oxygen using volts of current to separate the hydrogen to one electrode and oxygen at the other in a cell. Oxygen is the by-product in the process of producing ammonia which is valuable because it can be used in other chemical processes or sold to other companies for profit. In electrolysis there is no CO2 produced therefore there is no pollution. Standard electrolytic ammonia production energy consumption historically has been about 12 megawatt-hour. The fuel cost alone of making ammonia is $600 metric ton, and including capital and operating expenses that metric ton of ammonia cost about $800 to make. Compare electrolytic and using uses of natural gas as raw material the economically, for the past 100 years the cost of natural gas has not been higher than $1 and the fuel cost for a metric ton of ammonia from natural gas has been $30-$40. Figure [ 3 ]: Ammonia Manufacturing Process Figure 3: Ammonia Manufacturing Process Steam Reforming Gas purification Syngas of a mixture of hydrogen, carbon monoxide, carbon dioxide and water can be broken down in to individual components and further cleansed through purification. The syngas will enter a shift reformer, which breaks down the carbon monoxide in to hydrogen and carbon dioxide using steam (H2O). Carbon dioxide is much more environmentally friendly than CO and can either be released in to the atmosphere or used in other steam reforming processes in the future. Desulphurisation Sulphur is a problem when carrying out steam reforming as it acts as a poison for the catalysts involved. It is important that this is removed prior to the syngas entering the system. The process is carried out in the presence of a catalyst, which is usually nickel. This nickel acts as an absorber for the sulphur, and so several catalyst-filled tubes within the system with a large internal surface area will allow the sulphur to collect to be disposed of suitably. The Process Hydrocarbons usually contain sulphur which needs to be removed. The purification section is the first bed of the whole steam reforming process. Feed is passed through tubes containing zinc oxide. The sulphur in the feed reacts with the zinc oxide to produce zinc sulphide. This is to ensure that the feed travelling to the steam reformer does not poison the catalysts in this section in any way. The catalysts used in the steam reforming process are nickel-based. These are easily poisoned by sulphur species. The purified feed is mixed with steam and then is passed to the primary reformer, which involves a nickel-based catalyst where the steam reforming process is carried out. Once the hydrocarbon is cleansed of sulphur, the reforming process can begin. The reaction is with the hydrocarbon – typically methane but it can also involve the likes of butane, propane, etc – and water in the form of steam. The reaction for methane (CH4) is shown below. CH4 + H2O 3H2 + COΔH = +251kJmol-1 C3H8 + 6H2O 3CO2 + 10H2 C2H6 + 4H2O 2CO2 + 7H2 C4H10 + 8H2O 4CO2 + 7H2 C5H12 + 10H2O 5CO2 + 16H2 Reactions for other hydrocarbons, such as ethane (C2H6), propane (C3H8), butane (C4H10) and pentane (C5H12) are also shown, with their respective steam amounts required and the products gained. Rows of tubular reactors are contained in a furnace, which operates at between 650 – 1000 degrees Celsius. The hydrocarbon feed enters the system at a very high pressure, typically 20 – 30 bar. The process is carried out in the presence of a nickel-based catalyst which is packed into cylindrical tubes through which the steam/hydrocarbon gas mixture is passed. The catalysts act as surface for which the hydrocarbon will absorb and the steam. (Reference 2: Steam Reforming Flow Sheet) Justification Steam reforming is the most viable proposition as we have all of the raw materials available within easy access, whereas if we were to use other processes, then we would have to source other materials e.g. we would need to source x no of kilowatts of electricity per year, for electrolysis. Mass Balance Cp Values Energy Balance Material Costs Simple Plant Cost Using a base of around  £410 per ton of ammonia, and output at 550,000 tonnes, it would be assumed that the plant would produce  £225,500,000 a year of ammonia. The Burrup plant in Australia was built at a cost of  £457 million and produces roughly 800,000 tonnes a year of ammonia. Using the 2/3 power rule, as follows, will allow the costs of the new 550k p/a plant to be shown. C = Cref(S/Sref)2/3 C = 457000000 * (550,000/800,000)2/3 C =  £355,984,702 The output of the new plant is  £225,500,000, but the plant costs  £355,984,702 to build, so it would take around a year and seven months for the plant to be profitable, based on an estimation without including the costs of the raw materials. Taylor Method Pay Back Time Sustainability The environment is constantly changing, whether by nature or by human led processes. Sustainability is about trying to manage this change through balancing social, economic and environmental needs, both locally and globally for present and future generations. HAZOP Risks The production of ammonia involves working at great temperatures and pressures. As such, it is vital that the equipment used in the plant is designed to withstand these conditions to function properly. The high temperatures and pressures involved in the production of ammonia can potentially put tremendous amounts of strain on the pipes and vessels used. The risks associated with this are: * Explosions from sudden release of pressurised gases from ruptured vessels * Fragmentation from rupture of the pipes * Fire * Poisoning from exposure to leaked materials * Chemical or thermal burns, again from exposure to leaked materials Not only are these hazards life-threatening, they would also be very expensive to put right for the production company. These risks can be avoided by preparing the plant for the conditions that it is about to go through. It is more economically viable to run the steam reformer at as high a temperature and pressure as possible. Magnesium oxide-lined furnaces, MgO, has a melting point of around 2800 degrees Fahrenheit, making it ideal for lining the furnaces used in the production of hydrogen. Hydrogen itself will cause some materials to become brittle and eventually break. Hydrogen features an active electron and thus will behave like a halogen, causing erosion in the metals that it comes into contact with. This can be avoided by using high-purity stainless steel in the sections of the plant which will come into contact with the hydrogen. This steel must have a maximum hardness of 80 HRB on the Rockwell Scale. Ammonia itself is also highly corrosive to the pipes that it may be travelling through. For this reason, it is recommended that stainless steel is also used here, at a similar hardness of that shown above. Most ammonia plants use centrifugally cast high-alloy tubing to hold the nickel-base catalyst in the primary reformer furnace. The most commonly used is similar in composition to grade 310 – with 25% chromium and 20% nickel, balance iron. This has a carbon content in the range of 0.35 – 0.45% for improved high-temperature creep and rupture stress. Thermal protection of piping involves fire brick owing to the high temperatures involved.