Asked by
Lamarkovic Dixon
on Dec 12, 2024Verified
Proved reserves are likely to underestimate the total quantity of the resource in the ground because
A) of flaws in information flows between countries.
B) government agencies have an incentive to keep reserves secret.
C) of future improvements in technology and higher future prices.
D) scientists have not been able to use the latest techniques to estimate reserves in less developed countries.
Proved Reserves
Quantities of natural resources, such as oil or natural gas, that geological and engineering information indicates with reasonable certainty can be recovered under existing economic and operating conditions.
Future Improvements
Enhancements or upgrades anticipated or planned for the future to increase efficiency, performance, or satisfaction.
Higher Future Prices
The anticipation or expectation that the prices of goods and services will rise in the future.
- Understand the impact of technological innovations on enhancing the supply of natural resources.
- Acquire insight into the idea of "proved reserves" and its association with the availability of resources.
Verified Answer
MF
Learning Objectives
- Understand the impact of technological innovations on enhancing the supply of natural resources.
- Acquire insight into the idea of "proved reserves" and its association with the availability of resources.