The Question of Whether We Have Passed the Peak of Availability

question 18

Essay

The question of whether we have passed the peak of availability for oil continues to be debated among energy experts. However, if we define availability to mean oil that can be extracted by conventional technologies and low prices, there is no debate. With this knowledge, discuss two specific oil- use strategies that could be employed to move toward a more sustainable lifestyle.

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Definitions:

Residual Value

The estimated value of an asset at the end of its useful life, relevant in depreciation calculations and lease contracts.

150%-Declining-Balance

A method of accelerated depreciation which computes depreciation expense at 150% of the straight-line rate.

Depreciation

The accounting method of allocating the cost of a tangible or physical asset over its useful life.

Residual Value

The projected worth of an asset upon the completion of its lifespan.