At the current pace of oil consumption and given what oil is known to exist and what oil is expected to be discovered, oil reserves are likely to
A) never run out.
B) run out sometime between 2050 and 2100.
C) run out sometime between 2025 and 2050.
D) run out before 2025.
Correct Answer:
Verified
Q9: The large decrease in crude oil prices
Q10: The majority of proven world oil reserves
Q11: High oil prices in the 1970s motivated
Q12: OPEC stands for
A)Oil and Petroleum Exporting Companies.
B)Organization
Q13: If gas prices today were $1.00 per
Q15: The large increase in the elasticity of
Q16: The run up in gasoline prices during
Q17: Proven oil reserves in the world amount
Q18: World oil consumption runs approximately
A)96 barrels a
Q19: The run up in gasoline prices between
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