If extraction technology continues to improve over time,
A) the price of crude oil can continue to fall or stay steady.
B) the price of crude oil will increase despite any attempts to stem demand.
C) the price of crude oil will only fall if sufficient government taxation is implemented.
D) the price of crude oil will only fall if sufficient demand declines are arranged.

Question

Quizplus · Accepted Answer

If extraction technology continues to improve over time, it will become easier and cheaper to extract crude oil. This increased efficiency could lead to a surplus of crude oil, which would cause the price to fall or stay steady.

If Extraction Technology Continues to Improve Over Time