Why do most economists believe we will not run out of oil?
A) The government has wisely subsidized alternative forms of energy.
B) If oil was in short supply, its price would rise, causing consumers to conserve on its use and producers to discover more oil and alternative energy sources.
C) Government imposed regulations that force automobile manufacturers to produce cars that use less gasoline per mile.
D) This is a trick question. Most economists believe that the world will run out of oil in about 20 years.
Correct Answer:
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