If We Are to Continue Using Conventional Oil at the Projected

question 20

Essay

If we are to continue using conventional oil at the projected rate of increase, we will need to discover oil reserves equivalent to those of Saudi Arabia every five years.Considering this is an unlikely reality: (A) what are our options, and (B) which option is likely to come about?

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Definitions:

Consolidated Statement

Financial statements that reflect the combined operations, assets, and liabilities of a parent company and its subsidiaries.

Comprehensive Income

The total change in equity for a reporting period other than transactions from owners.

Equity Method

A method of accounting where an investor recognizes its proportionate share of the associate or joint venture's income, losses, and dividends within its own financial statements.

Ownership Percentage

The fraction of an investment or business enterprise owned by an individual or entity, usually expressed as a percentage.