The concept of "proved reserves" refers to the amount of a resource that can be produced
A) in one year's time.
B) in the next 10 years.
C) before it runs out.
D) at current levels of expected prices and technology.

Question

Quizplus · Accepted Answer

Proved reserves refer to the amount of a resource that can be produced at current levels of expected prices and technology. This means that it takes into consideration the economic and technological feasibility of extracting the resource, as well as the anticipated market demand and prices over a particular time frame.

The Concept of "Proved Reserves" Refers to the Amount of a Resource