What was the primary cause of the decline in oil prices in 2016 to only 1/4 of the prices in 2008?
A)the soil supply glut caused by fracking
B)a prolonged peace in the Middle East
C)energy conservation and the use of renewable technologies
D)a typographical error in a Black Friday sale ad
E)the war against ISIS

Question

Quizplus · Accepted Answer

The primary cause of the decline in oil prices in 2016 to 1/4 of the prices in 2008 was due to the soil supply glut caused by fracking. This led to an oversupply in the market, which drove down the prices. Other factors such as a prolonged peace in the Middle East and the war against ISIS had some impact but were not the primary cause of the decline. Energy conservation and the use of renewable technologies may have contributed to a decrease in demand for oil, but this alone would not have caused such a substantial decline in prices. The option of a typographical error in a Black Friday sale ad is not a reasonable explanation.

What Was the Primary Cause of the Decline in Oil