Question

question 1 10 pts our proved reserves of oil are 30 billion barrels. this means that when 30 billion barrels are used, we will have no more oil at a consumption rate of 1.5 billion barrels per year, the reserves will be depleted in 45 years. depending on the economy and technology, we could still have proved reserves of 30 billion barrels 120 years hence we have about a 1 - year supply of oil we have little worry about where our oil for transportation will come from in the next decade

Explanation:

Proved reserves are the quantities of oil that geological and engineering data demonstrate with reasonable certainty to be recoverable in future under existing economic and operating conditions. If consumption rate is 1.5 billion barrels per year, dividing 30 billion barrels by 1.5 billion barrels per year gives 20 years, not 45 years. Proved reserves are finite and once 30 billion barrels are used, there will be no more of those particular proved reserves. Future - economic and technological changes may find new reserves but current proved reserves are what is known now.

Answer:

when 30 billion barrels are used, we will have no more oil