2 Obtain data on the price of oil. a Describe how the price of oil has changed over the past five years. b Draw a demand-supply graph to explain what happens to the price when there is an increase or a decrease in supply and no change in demand. c What do you predict would happen to the price of oil if a new drilling technology permitted deeper ocean sources to be used? d What do you predict would happen to the price of oil if a clean and safe nuclear technology were developed? e What do you predict would happen to the price of oil if cars were powered by batteries instead of by internal combustion engines?