3. Proved reserves of oil and natural gas are like inventories in other areas of business. Reserves...

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3. Proved reserves of oil and natural gas are like inventories in other areas of business.

Reserves are costly both to identify and to hold. The fact that energy producers generally maintain only a few years' supply (at current consumption rates) of proved reserves does not mean that the world is about to run out of petroleum.

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Economics Private And Public Choice

ISBN: 9780123110404

2nd Edition

Authors: James D Gwartney; Richard Stroup; A H Studenmund

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Question Posted: Oct 25, 2024 09:07 AM

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3. Proved reserves of oil and natural gas are like inventories in other areas of business. Reserves...

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Economics Private And Public Choice

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