Question: reply in a very simple language to this post..In the ever-changing world economy, supply trends are influenced by a number of technological, political, and social

reply in a very simple language to this post..In the ever-changing world economy, supply trends are influenced by a number of technological, political, and social dynamics. Two of these products crude oil and hotel rooms will likely have changes in opposing directions due to different influencing factors. Crude Oil Factor Causing Decrease in Supply Crude Oil Factor Limiting Supply There is one main factor that is likely to limit the supply of crude oil in coming years: the global shift to renewable energy sources. Many countries are committing to carbon neutrality and fossil fuel reduction. Therefore, public and private capital is being shifted from traditional oil exploration and extraction to renewable technologies (e.g., wind, solar, and electric mobility). Capital redirection reduces funding for new oil projects and slows exploration and drilling. The World Economic Forum (2022) indicates that the huge energy transition will cause a slow decline in oil production to limit global supply. Hotel Rooms Factor Causing Increase in Supply On the other hand, a factor that should result in increased supply of hotel rooms is the recovery of the global tourism sector following COVID-19. The resumption of international travel and the restoration of consumer confidence and activity, among other factors, has and should continue to increase hotel accommodation demand. Developers and hotel chains are reacting to the increase in demand by opening new projects and/or expanding existi

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