Examine the graph below.
What best explains the reduction in the forecast for future world oil production shown in this graph?

Question

Examine the graph below. 
What best explains the reduction in the forecast for future world oil production shown in this graph?

Quizplus · Accepted Answer

The graph shows a reduction in the forecast for future world oil production, which can be attributed to the fact that known reserves of oil will likely be largely consumed by 2020 with no readily available new reserves to replace it. Option A is incorrect because it suggests that oil-producing nations will limit total production to drive prices up, which would likely increase production, not decrease it. Option B is also incorrect because while alternative energy sources may reduce demand for oil to some extent, they are unlikely to cause such a significant reduction in production forecasts as shown in the graph.

Examine the Graph Below