All else equal, when oil prices increase, some uneconomical sources of oil tend to become more economical, and this will _______

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2 years ago

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All else equal, when oil prices increase, some uneconomical sources of oil tend to become more economical, and this will _______

_ proven reserves of oil and ________ the number of years it will take to deplete the stock of oil. Group of answer choices decrease; increase increase; decrease decrease; decrease increase; increase

Business

1 answer:

IrinaK [193] · Answer 1 · 2022-09-03T09:42:14+03:00

Answer:

Increase, increase

Explanation:

If oil prices rise, highly costly techniques to obtain oil such as some forms of fracking become profitable, meaning that new reserves are either found, or deemed redeemable.

This will in turn increase the number of years that it will take to deplete the global stock of oil, simply because now more proven reserves have been found.