The report that concluded that the world will run out of oil in about 40 years used which formula to calculate the number of years to depletion?
A) (proven reserves + unknown reserves) ÷ annual consumption = number of years to depletion
B) total reserves ÷ total consumption = number of years to depletion
C) proven reserves ÷ annual consumption = number of years to depletion
D) proven reserves ÷ unknown reserves = number of years to depletion
Correct Answer:
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Q2: If there are approximately 5,000 barrels of
Q3: If there are approximately 6,000 barrels of
Q4: If there are approximately 8,000 barrels of
Q5: If there are an estimated 20,000 barrels
Q6: The proven-reserves figure used in most years-to-depletion
Q7: All else equal, if oil prices increase,
Q8: All else equal, if oil prices decrease,
Q9: All else equal, when oil prices increase,
Q10: All else equal, when oil prices decrease,
Q11: All else equal, as the price of
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