Category: Financial / Legal / Administrative / Political

For income tax purposes, the costs of capital expenditures which may be recovered by deduction against income (through depreciation and depletion). Spending on equipment including buildings and machinery. In the energy economy this terms refers to the cost of field development and plant construction and the equipment required for industry operations

Namely, If governments around the world continue with energy policies in place to date. International Energy Agency says 2050 baseline scenario is for oil demand to rise 70% – equivalent to five times today’s production of Saudi Arabia. IEC’s business as usual baseline scenario, oil demand rises from its present level of 87 mmb/d in 2008 to 135 mmb/d by 2050. Regarding climate change, business as usual is a scenario used for projections of future emissions assuming no action, or no new action, is taken to mitigate the problem.