Bush vs. Gore Presidential Election 2000 Information

The U.S. presidential election of 2000 is remembered for many things, including pregnant chads, a desperate  appeal to the Supreme Court, and most Americans questioning the integrity of their voting system. In light of all the unexpected events, its interesting to take a step back and look at the contest from a more objective perspective. For example, when was the last time a candidate won the presidency after losing the popular vote (before it happened again in 2016)? 2000 Presidential Election Trivia Before the 2000 election, the last time the president won the electoral vote without winning the popular vote was in 1888. Grover Cleveland beat Benjamin Harrison by 0.8% in the popular vote, but Harrison won the election.Bush won 1,803 more counties than Gore won.One of the electors from DC abstained from voting for Gore.Because of the controversy over the recount in Florida, the Gore campaign sued to have a manual recount.The recount in Florida taught Americans the difference between a hanging chad (a ballot punch-out that was hanging at one corner) and a pregnant chad (a dimple in the ballot paper).  The results of the 2000 and, later, the 2016 election have led many Americans and legislators to support  alternative voting systems, such as the  National Popular Vote Plan, that would ensure that the winner of the most popular votes would also win the election. The Candidates The 2000 election was uncommon not just for the close contest, but also the presence of a significant third-party candidate. Ralph Nader garnered a sizable, if proportionately small, vote, convincing many voters that there were no longer substantial differences between the Democrats and Republicans in contemporary politics. Here are the candidates for the leading parties on the ballot:   Republican Party:  George W. Bush and Richard CheneyDemocratic Party: Albert Gore Jr. and Joseph LiebermanGreen Party: Ralph Nader and Winona LaDukeReform Party: Patrick Buchanan and Ezola FosterLibertarian Party: Harry Browne and Art Olivier The Issues Was Ralph Nader right, or did the Republicans and Democrats represent markedly different sides of the major election issues? Here are just of few of the hottest topics of debate in the election:   EducationBush:  Comprehensive package calling for more choice and accountabilityGore:  Smaller class sizes with rigorous methods for hiring and retaining teachersSocial SecurityBush:  Personal retirement accounts with SS moneyGore:  Give parents raising children SS creditHealth  CareBush: Strengthen Medicare with private sector alternativesGore: 1/6 of the budget surplus over 15 years used to strengthen Medicare The  Results Memorably, Al Gore won the popular vote but lost the election. Thats because American presidents are elected by the Electoral College rather than the overall number of votes.  The popular vote was won by Gore-Lieberman by 543,816 votes. The results of the popular vote: Bush-Cheney:  50,460,110Gore-Lieberman:  51,003,926Nader-LaDuke: 2,883,105Buchanan-Foster: 449,225Browne-Olivier: 384,516 The results of the electoral vote: Bush-Cheney:  271Gore-Lieberman: 266Nader-LaDuke: 0Buchanan-Foster: 0Browne-Olivier: 0 The number of states won: Bush-Cheney: 30 statesGore-Lieberman:  20 states plus the District of Columbia Sources Bishin, Benjamin G., Daniel Stevens, and Christian Wilson. Character Counts?: Honesty and Fairness in Election 2000. Public Opinion Quarterly 70.2 (2006): 235–48. Print.DeSilver, Drew. Trump’s victory another example of how Electoral College wins are bigger than popular vote ones. Pew Research Center, December 20, 2016.Electoral College Box Scores 2000-2016. U.S. Electoral College, 2016.Kritzer, Herbert M. The Impact  of Bush V. Gore on Public Perceptions and Knowledge of Supreme Court Judicature 85 (2001). Print.Norpoth, Helmut. Primary Colors: A Mixed Blessing for Al Gore. PS: Political Science and Politics 34.1 (2001): 45–48. Print.

Essay about Negotiating Thanksgiving An Animal Rights...

For every vegetarian or vegan, Thanksgiving is a logistical and emotional minefield. Of course, the centerpiece of the traditional American meal is the turkey, and quite often older relatives, especially relatives whose identity revolves around their cooking like my grandmother, feel hurt and offended if vegetarians do not partake of their cooking. In past years, I tried a number of strategies to hold true to my beliefs about living a cruelty-free existence, while still treating my meat-eating relatives with respect. My first strategy was to suffer in silence, and try to eat as little as possible, focusing on the non-meat entrees. However, this presented several difficulties: firstly, many of the side dishes were cooked with meat†¦show more content†¦This year, I decided to talk with my grandmother about the issue. She always hosts the event and I knew that my veganism caused her a great deal of angst. I wanted a chance to discuss this important part of my identity rationall y with her, in a context far away from the dinner table where her own identity as a cook and provider for the family might be threatened. The pre-negotiation process involved my explaining to my grandmother that I wanted to honor her on Thanksgiving and make a contribution to the meal, so I could feel fully a part of the event. Both of us had a need to feel affirmed as family members, and had a mutual stake in avoiding tensions during the family meal. We set a time, and agreed to talk about what she would be serving. She opened the negotiation by saying that she did not understand why I could not eat what everyone else was eating, because Thanksgiving came only once a year. I pointed out that vegetarianism is not like being on a diet, where you ‘cheat’ every now and then. I do not like to consume animals, and do not regard my eating habits as an act of self-denial. I said I wanted to cook and share some of the foods that I liked with the rest of the family. This would be a way to show everyone that vegetarian food could be tasty. However, because my grandmother would be cooking turkey and other meat-based items, they could sample my vegetarian and vegan food in addition to her food. ThisShow MoreRelatedProject Mgmt296381 Words   |  1186 Pagestechniques 6.1 Define activities 9.1.2. 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Performance And Specifications Of Power Pumps Engineering Essay Free Essays

Introduction Background: The agencies of pumping is the most of import manner of fluid transportation for 1000s of old ages. Ancient Egyptians used water wheels with hoppers for the motion of vehicle marked with H2O for irrigation intent. In the 3rd century BC ; the Grecian scientist Stisebeos Alexandria invents the reciprocating pump to pump H2O. We will write a custom essay sample on Performance And Specifications Of Power Pumps Engineering Essay or any similar topic only for you Order Now The about the same clip discovered the Grecian mathematician Archimedes the prison guard pump, called the composit of mandolins with a coiling traveling on inside the cylinder. Till that clip the there was no much development occurs until the late 17th century, where the Gallic adventurer Denis invent a pump with consecutive blades. Then the British adventurer John Oblad invents the centrifugal pump with curving blades in 1851. Thereafter, the first usage of compressors with axial-flow turbo jet engines where found in the mid-fortiess of the 20th century AD. Reciprocating Pump Positive supplanting pumps are that type of machines which is common for applications that require a really high Pressures and comparatively low flow. In this machine, the liquid flows into a contained infinite, such as a cylinder, speculator, or rotor. Then a traveling Piston forces the liquid out of the cylinder, increasing the force per unit area. The usage of positive supplanting pumps is common in applications that require high discharge force per unit area and comparatively low flow. The discharge force per unit area generated by a positive supplanting pump is – in theory – space. If the pump is dead headed, the force per unit area generated will increase until either a pump portion fails or the driver stalls from deficiency of power. The Reciprocating Pump – besides known as Power Pump- is one type from the Positive Displacement Pump. In his book, Pollak illustrates that the Reciprocating pump has a random-access memory, speculator, Piston or other cylindrical component working backwards and forwards within a cylinder or pump barrel ; this gesture is normally delivered from a grouch go arounding unvarying velocity, and linking rod. Automatic valve control the flow of liquid into the cylinder, and out once more. A Piston or a speculator moves back and Forth in an enclosed cylinder. A reciprocating pump besides has a power terminal and a liquid terminal. Most piston pumps are individual playing ; plunger pumps are dual moving. The diameter of the Piston, the length of the Piston shot and the speed of the Walter pistons determine the pump capacity. See fig Power Pumps: As mentioned by Igor Karassik in his book that the power pump does non develop force per unit area ; it merely produces a flow of fluid. The downstream procedure or shrieking system produces a opposition to this flow, thereby bring forthing force per unit area in the piping system and dispatch part of the pump. The flow fluctuates at a rate proportional to the pump velocity and figure of cylinders. The amplitude of the fluctuations is a map of the figure of cylinders. Karassik added that greater the figure of cylinders, the lower the amplitude of the flow fluctuations at a specific revolutions per minute. It is ever possible for the power pump to bring forth different capacity as they are capable of operating over a broad scope of velocities. Each pump has maximum suction and discharge force per unit area limits that ; when combined with its maximal velocity, find the pump ‘s power evaluation. The pump can be applied to power conditions that are less than its maximal evaluation but at a little lessening in mechanical efficiency Operating Principles: In his paper, Samuel explains the pump operation as follows ; the reciprocating pump uses a crankshaft-connecting rod mechanism. The crankshaft-connecting rod mechanism converts the rotary motion of the crankshaft to a reciprocating additive motion of Pistons. The Piston motion creates volume alterations. As a pit opens when a Piston retracts, the fluid is admitted through an recess cheque valve. When the Piston reverses, the recess look into valve stopping points, and the pit reduces when the Piston extends. The mercantile establishment look into valve clears and the fluid is forced out by the Piston. Despite that of the fluid being pumped, the discharge volume is fixed for each crankshaft revolution. Pressure is determined by the system flow opposition and pump building. The Speed decrease is so needed for diminishing high velocity from the driver to low pump shaft velocity. Applications for Power pumps are: †¢ Oil well clay pumps †¢ Reverse osmosis charge pumps †¢ Auxiliary boiler provender pumps †¢ Pipeline pumps †¢ Oil field H2O injection pumps †¢ Slurry pumps †¢ Process pumps Performance and specifications: In his paper, David Parker negotiations about the specification illustrating that the quality and measure of information on suction conditions will find the ultimate success or failure of any pump installing. The bulk of pump jobs, start at the suction. There must be a minimal sum of absolute force per unit area available to provide fluid to the pump suction. PD pumps by and large require less absolute force per unit area. Net Positive Inlet Pressure Required ( NPIPR ) , at the pump suction rim, is the evaluation of entire recess losingss within that pump at rated conditions. Unit of measurements are force per unit area footings ; PSI, Kg/cm2, Bar, KPa. These losingss include the unstable clash loss along the internal suction way, the alteration in lift from the suction rim to the enclosed volume, the unstable clash loss of come ining the enclosed volume, and the acceleration to the speed of the enclosed volume. For any given size, NPIPR will increase with increased viscousness or fl ow ( increased flow = increased velocity ) . Volumes of gas are normally specified comparative to standard temperature and force per unit area ( STP ) of 680F and atmospheric force per unit area ; 14.7 psia ; 200C, 1.034 Kg/cm2 absolute. By stipulating the standard volume of gas and stipulating the suction force per unit area and temperature, the volume of gas nowadays at the pump suction can be calculated. This capacity must be added to the liquid capacity in order to size the pump for the needed liquid flow rate. If suction force per unit area is below atmospheric force per unit area, even little sums of entrained gas will spread out in volume necessitating a larger pump. Capacity should be defined for the rated status. If there is an acceptable scope of capacities, the lower limit and maximal acceptable should be stated. This allows pump providers to offer standard merchandises without holding to modify for specific capacity demands. Efficiency: In the reciprocating pump, merely two efficiency losingss need to be considered ; volumetric and Mechanical. Volumetric efficiency loss is provoked by slippage through valves, ratio of liquid chamber volume at terminal of shot to plunger/piston supplanting volume, and liquid squeezability. Mechanical efficiency loss occurs while get the better ofing mechanical clash in bearing and velocity decrease. The overall efficiency of a reciprocating pump unit is by and large above 85 % throughout its full operating scope. However, in the reciprocating pump can run over 90 % because many pumps and decrease units operate at a mechanical efficiency of 98 per centum, and the volumetric efficiency can frequently be above 95 per centum. Viscosity: Viscosity of a fluid is the ratio of shear emphasis to the rate of shear strain. It is a step of its opposition to flux. High viscousness fluids, like gum elastic, adhesives, or molasses, are really immune to forces applied to travel them. Low viscousness fluids, like kerosine or H2O, have really small opposition to coerce. Viscosity is reduced as temperature is increased ; hot fluids flow more readily than cold fluids. Viscosity should ever be given at a specified temperature. Typical units for viscousness are centipoises, centistokes, and SSU. Positive Displacement pumps maintain high efficiencies throughout the viscousness scope. Entrained gasses can be handled in big measures by most Positive Displacement pump designs ; nevertheless care must be taken in stipulating measure of gas entrained and flow required. Positive Displacement pumps are used to keep the changeless flow rate as nozzle force per unit areas change due to choke offing and gnawing. Precise control of fuel add-on rates increases the operators control over burning conditions. This in bend leads to cut down air emanations, a really critical concern in a extremely regulated industry. The reciprocating pump provides a about changeless flow rate over a wider scope of force per unit area ; the centrifugal pump gives unvarying force per unit area over a scope of flow, so it drops dramatically as the flow rate additions. On a reciprocating pump, fluid viscousness has small consequence on the flow rate as the force per unit area increases. However, unstable viscousness has a large impact on the centrifugal pump ‘s force per unit area and flow rate. The efficiency besides drops well. Advantages: Efficiency is rather high even though there are alterations in the needed caput. It can be up to 85 % to 95 % or even more. Merely with high velocity it tends to diminish somewhat. Reciprocating pumps run at much lower operating velocities than centrifugal pumps and therefore is better suited for managing viscose fluid. For a given velocity the flow rate is changeless regardless of caput, the pump is limited merely by the power of the premier mover and the strength of the pump parts. The fluid flow from the reciprocating pump is well high. It is start automatically. No demand to make full the cylinders before get downing. Disadvantages: There are poorer in managing liquids incorporating solids that tend to eat valves and seats. Because of the pulsating flow and force per unit area bead throw the valves they require larger suction force per unit area at the subdivision rim to avoid cavitations. Due to mechanical quivers, the pulsating flow require a particular attending to subdivision and discharge piping design Hovering gesture of the nozzle creates perturbations that travel at velocity of sound from the pump cylinder shrieking system. These perturbations cause the force per unit area degree of the system to fluctuate with regard to clip. It is hard to pump syrupy liquid in the reciprocating pump The cost of bring forthing Piston pumps is high. This is due to the really accurate sizes of the cylinders and Pistons. Besides, the geartrain needed to change over the rotary motion of the thrust motor into a reciprocating action involves excess equipment and cost. Discharge flow problems: Care cost a batch considered with its handiness, because throbing flow and big figure of traveling parts, as the atoms can acquire into the little clearances and cause terrible wear. The Piston pump therefore, should non be used for slurries. The throbing features of the fluid fluxing into and out of power pumps are significantly affected by the figure of Pistons. Discharge flow pulsings are the most critical because of the high energy potency generated when the system opposition reacts with the flow to make force per unit area. Since the magnitude of the discharge pulsing is largely affected by the figure of cylinders, so we can get the better of the pulsing flow by increasing the figure of cylinders. Besides, we can cut down the discontinuity by utilizing an collector at the terminal of the nose which will provides a continues flow. How to cite Performance And Specifications Of Power Pumps Engineering Essay, Essay examples

Financial Analysis of Woodside Energy Ltd.

Question: Discuss about theFinancial Analysis of Woodside Energy Ltd. Answer: Introduction: Woodside Energy Limited is an oil and gas company based in Australia catering to the exploration, development, production, marketing and selling of hydrocarbon products. The products include LPG, LNG, pipeline natural gas and crude oil. The company operates five floating vessels which cater to production, storage and offloading of oil. The exploration portfolio of the company comprises of Australia and Asia-Pacific region, the Atlantic Margins, Sub Sahara Africa and Latin America. The company has grown its capabilities through collaborations in the North West Shelf, one of the worlds most premier LNG facilities. Woodside caters to 85% of the total global supply of LNG. (Woodside, 2016). The company operates both nationally and internationally with its head office in Perth, Australia and additional offices in Australia, Canada, Tokyo, UK, Ireland and New Zealand. (Bloomberg, 2016) Statement of Financial Position The balance sheet reflects the financial position of a company on a particular date. The various items included in the balance sheet of Woodside for the year 2015 are presented below: Item 2014 ($m) 2015($m) %Change Total current assets 4042 1079 (73.3%) Total non-current assets 20040 22760 13.6% Total current liabilities 1941 1304 (32.8%) Total non-current liabilities 5482 7510 37% Total stockholders equity 16659 15025 (9.8%) (Woodside, 2015) Total Current Assets The total current assets of the company comprises of cash and cash equivalents, receivables, inventories, tax receivables, and other assets. There has been a fall in the current assets by a whopping 73.3%. This is majorly on account of a fall in cash and cash equivalents from $3268 million to $122 million. The money market deposits amounting to $3142 million has become 0 in 2015. The company spent cash on acquisition and development of Wheatstone, Kitimat LNG and Balnaves Oil. Also the exploration activity increased resulting in higher cash spending. Payments of dividends amounting to $1730 million also lead to a fall in cash balance. The inventories also fell to the extent of 31%. Total Non-Current Assets The non -current assets comprise of exploration and evaluation assets, receivables, inventories, oil and gas properties, other plant and equipment, other financial assets and deferred tax asset. The non -current assets have increased by 13% in 2015 on account of exploration and evaluation assets and oil and gas properties. The company spent on new acquisitions as well as the existing ones. $4873 million were spent on exploration and development of Kitimat LNG, Balvanes oil and Wheatstone. Also $436 million spent on drilling activity. This investment in properties in oil and exploration assets will help the company in increasing its sales as the capacity has been expanded. Total Current Liabilities The current liabilities comprise of payables, interest bearing liabilities, provisions, taxes payable, and other financial liabilities. The current liabilities have decreased by 32%. This is majorly as a result of a decrease in interest bearing liabilities and the taxes payable have become nil in 2015. The interest bearing liabilities had become payable as they had matured and as such the debt reduced. This has lead to increased short term liquidity as there are less short term obligations. The payables have also increased which constitute both trade payables and interest payable on short term debt. The provisions have been made for restoration of operating locations, employee benefits and other provisions. There has been a decrease in provisions for restoration of operating locations. Total Non- Current Liabilities The total noncurrent liabilities have increased by 37% in 2015. The noncurrent liabilities comprise of interest bearing liabilities, deferred tax liabilities, provisions and other finance liabilities. The increase in noncurrent liabilities has increased on account of interest bearing liabilities which has increased by 123%. The company has increased its debt to finance its acquisition and investment expenditure. This has increased the gearing to 23%; however the gearing ratio is within the range of the companys targeted gearing. The new debt was also raised to refinance the existing debt portfolio. The debt of $4100 million has been raised through 10 year corporate bond, syndicated loan facility and bilateral debt facility agreements. However, the cost of debt of the company is very low at 2.9% which means it has great support from banks and debt market. Total Stockholders Equity The stockholders equity comprises of issued and fully paid shares, retained earnings, shares reserved for employee share plans, other reserves and non controlling interest. The stockholders equity decreased by 10% due to a fall in retained earnings. Retained earnings are profits available to equity shareholders which are not paid as dividends rather retained by the company to fuel future growth. There has been no change in the issued equity capital. There was a purchase of shares reserved for employee share plans, however an almost equivalent shares vested during the year had negligible effect on the total shares reserved for employee share plans. Stockholders Equity Item 2014 ($m) 2015($m) %Change Total stockholders equity 16659 15025 (9.8%) Weighted average number of shares 822,771,118 822,943,960 0.2% (Woodside, 2015) The total stockholders equity has decreased in 2015 due to a fall in retained earnings as a result of low profits available to equity shareholders. The issued share capital has remain unchanged, however, the weighted average number of shares also makes allowance for shares reserved for employees share plans. Since the employees share plans shares have increased, the weighted average numbers of shares have increased. Statement of Profit and Loss Item 2014 ($m) 2015($m) %Change Total operating revenues 7435 5030 (32.3%) Cost of goods sold 2883 3073 6.6% Total expenses (before income tax) 1089 1642 50.8% Any non-operating (extraordinary) gains or losses (26) (153) More than 100% Earnings per common share 293.4 3.2 (99%) (Woodside, 2015) Total Operating Revenues The total operating revenues have decreased by 32%. Based on the geographical locations, the highest revenue comes from Asia, followed by Australia and USA. The revenue has declined due to the increasing oil prices in the world. There is a major fall in revenue from LNG and oil segments of the company. There is over supply of LNG in the markets which has led to fierce competition and hence lowered the total revenue. The change in air quality and climate change is also shaping the demand for LNG. Along with a low oil prices, there has been a reduction in volume of sales resulting in a further decline in revenue. Cost of Sales The cost of sales has increased by 6.6%. The increase in cost of sales is on account of increased depreciation and amortisation costs of oil and gas properties. Even though the revenue has fallen, but the cost of sales has not increased much due to improved operating expenditure as a result of initiatives of the productivity program and favourable exchange rates. There is also a decrease in royalty and excise as a result of lower realised prices. The cost of sales have also increased due to a increase in onerous lease provision made in order to compensate for the difference in look forward value of the Balnaves assets and the lease obligations. The shortfall is due to lower oil prices resulting in lower performance expectations from the asset. Total Expenses The total expenses have increased by more than 50%. Impairments of oil and gas properties account for the majority of expenses for the year 2015 amounting to $1083 million. The largest impairment has been done for Wheatstone assets followed by NWS oil. The impairment was done as a result of dramatic fall in oil prices which compelled the company to take lower price assumptions for short term and long term, thus resulting in a decline in asset values. Other expenses of the company include exploration and evaluation expenditure, general, administrative and other costs, depreciation of other plant and equipment and other costs. Non Operating Extraordinary Loss There was an increase of $96 million in the write off of exploration and evaluation assets which included unsuccessful wells in Australia, Republic of Korea and Cameroon. Earnings Per Share The earnings per share decreased by approximately 99%. (LNG world news, 2015). EPS is the profit per share available to the equity shareholders. The EPS reduced as a result of a fall in profits in 2015. There was no change in the weighted average number of shares. The profits have been very low in 2015 due to lower revenue as a result of significantly lower oil prices and also a fall in sales volume. With lower revenue, the operating expenses were also high as compared to 2014 due to assets impairments done on account of lower oil prices. Lower sales combine with higher operating expenses resulted in lower net profits available to the equity shareholders. Statement of Cash Flows Item 2014 ($m) 2015($m) %Change Net cash inflow(outflow) from operating activities 4785 2376 (50.3%) Net cash inflow(outflow) from financing activities (3119) (58) 98% Net cash inflow(outflow) from investing activities (617) (5456) (784%) Net increase (decrease) in cash during the year 1049 (3138) (399%) (Woodside, 2015) Net Cash Inflow (outflow) from Operating Activities There is a decrease in net cash flow from operating activities by 50%. The profit after tax is the cash component left with the company after deducting all expenses from the revenue. There is a sharp fall in the net profits. Further there is an increase in income tax paid. However, even after a low net income, the company still has high cash from operations of $2376 million. This is because of the non cash items amounting to $2600 approx... The non cash expenditures majorly include impairment of assets and depreciation and amortisation. Other non cash items include loss on disposal of exploration and evaluation assets, gain on sale of oil and gas properties, change in fair value of derivative financial instruments and loss on disposal of investments. There is a fall in the net finance costs resulting in an increase in cash from operations. There has been a decrease in current assets and increase in current liabilities which has further increased the cash from operations. Payments for the year include interest paid, income tax paid, PRRT paid, payments for restoration. There has been no major change in these items; most of them have fallen in 2015 resulting in higher cash flow from operations. Net Cash Inflow (outflow) From Financing Activities Though there is a cash outflow from finance activities, however the cash outflow is much less than what it was in 2014. The increase in cash flow comes from the net of proceeds from borrowings. The company has taken a total debt of $4100 million in 2015 for which it has received proceeds worth $1834 million. This has accounted for the increase in cash flow from financing activities. Woodside has taken this loan to fund its acquisition and exploration activities. The company has paid a dividend of $1730 million despite low profits in 2015. The company has a dividend payout ratio of 80%, and it has maintained the same. The dividends were paid from the cash generated from operations. The cash outflow was higher in 2014 due to repayment of borrowings amounting to $1184. Net Cash Inflow (Outflow) from Investing Activities There is a net cash outflow from investing activities. The outflow has increased by a whopping 784%. The majority of the outflow is for payments made for capital and exploration expenditure and payments for acquisition of joint arrangements acquired. The company acquired Apaches Wheatstone LNG and Balnaves oil interests in Australia and Kitimat LNG project in Canada for a purchase price of $2750 with an adjustment of $921 million. (Stringer, Olson, 2014) Net Increase (Decrease) in Cash During the Year There is a net decrease in cash balance in 2015 by 400%. The decrease is majorly on account of payments made for acquisitions, capital and exploration expenditures and dividends paid. Conclusion From the above analysis of the items of financial statements, it can be concluded that the company is operating in a very challenging environment where the oil prices are reducing and the company has no control over it. The demand for LNG has also reduced due to increasing number of suppliers around the world. The company has delivered a net profit after tax in spite of such challenging environment. However, the company is trying its level best to survive in such challenging conditions by increasing its capacity though acquisitions in Australia and Canada which will enable it to cater to the acquired companies markets. Also the acquisitions bring about new technology which inspires innovation. The company has started an initiative to improve its operational excellence and thereby reduce its expenses. This will reap benefits for the company in the long run. The company has a strong balance sheet as the company has a leverage of 23% which makes it stable. It has more of equity then debt which means it is less risky and can easily growth decisions without any bank interferences. Even after such low profits in 2015, the company still have a positive cash balance after acquisition of capital and exploration projects which have increased its total assets. Woodside has impaired a large part of its assets to bring them to the market value. This means the balance sheet shows the true picture of the assets. The current liabilities have reduced as the company has got rid of short term debt making it highly liquid in the short term. Also the inventory has reduced in 2015; this increases the companys liquidity. however, the company has taken loan of $4100 million to finance its capital expenditures which has increased its gearing to 23%, however, the permissible limit of gearing for the company is 20 -30%, so the gearing is within the limits. There is no change in the issued capital of equity capital. The cash position of the company is strong as the company has a positive cash balance even after paying for its capital expenditures, dividends and other expenses. The cash from operations is $2376 which shows the strong cash position from operations even in such challenging times. The operating expenses were lower resulting in higher cash from operations. The net finance costs were lower in 2015 resulting in higher cash balance. The cash balance has reduced due to acquisitions of joint arrangements which have made the asset portfolio of the company even stronger. Recommendation The profitability of the company has reduced in 2015 as the return on assets and net profit margins have decreased. But this is on account of lower oil prices over which the company has no control. Rather even in such challenging times, the company has been able to make profits and has a profit margin of 2.2%. The short term liquidity has also reduced in 2015 due to a huge fall in the cash balance. The cash was utilized for capital expenditures which will reap benefits in the future. The company has impressive turnover ratios with inventory turnover increasing in 2015 and asset turnover as also remained constant. The debt equity ratio has increased as the company has acquired additional debts for funding its acquisitions. These acquisitions have been strategic to cater to the supply of oil and LNG in the acquired companies markets as the competition in the LNG and oil has become fierce and the company can survive only by increasing its volume of business. The gearing ratio is within the target limit of the company. The company is in a continuous process of acquiring new exploration sites and development opportunities to increase its production of oil and LNG. Also the company has made an initiative to improve its operational capabilities which it has achieved to some extent in 2015. All these efforts are sure to bring results for the company in the future. Hence it is recommended to invest in the company if looking at the energy sector. Reference Bloomberg, (2016), Company Overview of Woodside Energy Ltd., accessed online on 2nd September, 2016, available at https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=8516915 Woodside, (2016), Company Profile, accessed online on 2nd September, 2016, available at, https://www.woodside.com.au/About-Us/Profile/Pages/home.aspx#.V8mFJPl97IU Woodside, (2015), Woodside Energy Limited, Annual Report 2015, Australia Stringer, D., Olson, B., (2014), Woodside to Pay $2.75 Billion For Apache Project Stakes, Bloomberg, accessed online on 4th September, 2016, available at https://www.bloomberg.com/news/articles/2014-12-15/woodside-to-buy-apache-stakes-in-wheatstone-kitimat-lng LNG world news, (2015), Woodsides Profit Nosedives as Low Oil Prices Continue to Bite, accessed online on 4th September, 2016, available at, https://www.lngworldnews.com/woodsides-profit-nosedives-as-low-oil-prices-continue-to-bite/