According to the U.S. Energy Information Administration, the proven oil reserves existing in the world in 2015 consisted of 1,663 billion barrels. In that year, the U.S. Energy Information Administration reported that the world daily oil production was 80.58 million barrels a day.

a. At this rate, for how many years will the proven oil reserves last? Discuss the Malthusian view in the context of the number you just calculated.

b. Morder to do the calculations in part

a, what did you assume about the total quantity of oil reserves over time? About oil prices over time? Are these assumptions consistent with the Malthusian view on resource limits?

c. Discuss how market forces may affect the amount of time the proven oil reserves will last, assuming that no new oil reserves are discovered and that the demand curve for oil remains unchanged.

14.The accompanying table shows the annual growth rate for the years 2000-2014 in per capita emissions of carbon dioxide (CO) and the annual growth rate in real GDP per capita for selected countries.

a Rank the countries in terms of their growth in CO, emissions, from highest to lowest. What five countries have the highest growth rate in emissions? What five countries have the lowest growth rate in emissions?

b. Now rank the countries in terms of their growth in real GDP per capita, from highest to lowest. What five countries have the highest growth rate? What five countries have the lowest growth rate? cc. Would you infer from your results that CO, emissions are linked to growth in output per capita? . Do high growth rates necessarily lead to high CO, emissions?