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How is the future cost of a barrel of oil calculated?
The future cost of a barrel of oil is calculated by examining projections of how much oil is available as compared to how much oil is being used or is in demand. Prices spike when the demand for oil exceeds its availability, from all sources.
Why is oil considered non-renewable and how does this impact its availability in the future?
Oil is considered non-renewable because it takes millions of years to form and cannot be replenished at the rate it is being consumed. This means that once oil reserves are depleted, they cannot be easily replaced. As a result, the availability of oil in the future is limited and will eventually decline as reserves are used up. This can lead to higher prices, geopolitical conflicts, and a shift towards alternative energy sources.
Is oil readily available?
Oil availability varies by region and is influenced by factors like geopolitical stability, technological advancements in extraction, and market demand. While there are significant reserves in places like the Middle East and North America, some areas face challenges in accessing and extracting oil. Additionally, the transition to renewable energy sources is impacting the long-term outlook for oil availability. Overall, while oil is currently accessible, its future availability may be affected by ongoing economic and environmental changes.
How will the formation of future Pangaea affect the availability of water for your society?
The formation of a future Pangaea will affect the availability of water for society by closing off the access to certain bodies of water.
What is the future of oil trading?
Unless oil become extinct, oil trading will likely continue indefinitely. An oil future is a type of investment in which someone speculates whether the price of oil will rise or fall. It is a type of future contract in which both the buyer and seller agrees in advance on the price the buyer will pay for the future oil.
What does a job mean?
It is referring to the future of job availability. It is an attempt to predict the unemployment rates and what jobs are going to be available in the future.
What is the job availability for a horse trainer in the future?
Very good if you live on a farm
Discount rate in natural resource management?
Discounting means the proceedure by which we find the present value of future benefits. If the discount rate is low then the availability of resources in future is moreIf the discount rate is high then the availability of resources in future is less .ie. faster will be the depletion of natural resources leaving less for future generation
Which company has slogan'conserve oil for future'?
Indian Oil
What does a job lookout mean?
It is referring to the future of job availability. It is an attempt to predict the unemployment rates and what jobs are going to be available in the future.
Why might polymers become expensive in the future?
Polymers could become expensive in the future due to increasing demand, limited availability of raw materials, disruptions in supply chains, or stricter regulations on production processes. Additionally, factors like fluctuations in oil prices, energy costs, and global economic conditions can also impact polymer pricing.
Who determines the price of oil?
Commodity traders determine the pricing of oil commodities. They bid on future contract, which are basically agreements to buy or sell oil at a certain date in the future for a price.
