Question: I need help understanding this: The EIA predicts that the United states has 216 billion barrels of crude oil reserves left. If 4 billions barrels

I need help understanding this:

The EIA predicts that the United states has 216 billion barrels of crude oil reserves left. If 4 billions barrels are extracted a year and extraction grows by 0.5% a year, how long will the reserves last?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!