Asked by
Vianca Agustin
on Dec 12, 2024
Verified
Proved reserves of natural gas and oil
A) will last only another five years at the current worldwide consumption rate.
B) reveal little about whether the world is about to run out of these resources since they are calculated at present levels of price and technology.
C) are just another way of measuring how many years civilization will continue.
D) indicate that the supply of petroleum will be depleted by the year 2020 unless governments adopt price controls and energy rationing.
Proved Reserves
Quantities of natural resources, like oil or gas, that geological and engineering information indicates with reasonable certainty can be recovered under existing economic and operating conditions.
Natural Gas
A fossil fuel composed mainly of methane, used as an energy source for heating, cooking, and electricity generation.
Consumption Rate
The speed at which goods and services are consumed or used up, often reflecting the economic activity level.
- Recognize the significance of proved reserves in assessing the availability of natural resources.
Verified Answer
PP
Learning Objectives
- Recognize the significance of proved reserves in assessing the availability of natural resources.