subject
Business, 05.05.2020 18:40 jennyferalbarracin64

In 1920, it was reported that there were 60 billion barrels of oil in the world oil reserves and we were using 6 billion barrels per year. Given this data, the world should have run out of oil in ten years. However, more recent data suggests that there are currently 1.7 trillion barrels of oil in the world oil reserves and that we are using 34 billion barrels of oil every year. Given that petroleum reserves are a non-renewable resource, how do explain the fact that the world has not run out of oil when it was supposed to over 80 years ago

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 22.06.2019 10:30, pierrezonra
What are the positive environmental trends seen today? many industries are taking measures to reduce the use( _gold, carbon dioxide, ozone_) of -depleting substances and are turning to(_scarce, renewable, non-recyclable_) energy sources though they may seem expensive. choose one of those 3 option to fill the
Answers: 3
image
Business, 22.06.2019 13:50, 2023apd
Diamond motor car company produces some of the most luxurious and expensive cars in the world. typically, only a single dealership is authorized to sell its cars in certain major cities. in less populous areas, diamond authorizes a single dealer for an entire state or region. the manufacturer of diamond automobiles is using a(n) distribution strategy for its product.
Answers: 2
image
Business, 22.06.2019 16:00, hany90
Arnold rossiter is a 40-year-old employee of the barrington company who will retire at age 60 and expects to live to age 75. the firm has promised a retirement income of $20,000 at the end of each year following retirement until death. the firm's pension fund is expected to earn 7 percent annually on its assets and the firm uses 7% to discount pension benefits. what is barrington's annual pension contribution to the nearest dollar for mr. rossiter? (assume certainty and end-of-year cash flows.)
Answers: 2
image
Business, 22.06.2019 18:10, maddihamidou
Consumers who participate in the sharing economy seem willing to interact with total strangers. despite safety and privacy concerns, what do you think is the long-term outlook for this change in the way we think about interacting with people whom we don't know? how can businesses to diminish worries some people may have about these practices?
Answers: 1
You know the right answer?
In 1920, it was reported that there were 60 billion barrels of oil in the world oil reserves and we...

Questions in other subjects: