Question

If United States oil reserves were 40 billion barrels, and total United States oil production were 4 billion barrels per year, how long would we expect reserves to last, assuming oil production remains constant until total depletion of the reserves occurs, and no new oil reserves are found?

Answer 1

The United States oil reserves would last 10 years at a constant production rate of 4 billion barrels per year, given that no new reserves are discovered.

Step-by-step explanation:

If the United States oil reserves were 40 billion barrels, and the total United States oil production were 4 billion barrels per year, we can calculate the duration of the reserves by dividing total reserves by the annual production rate. This would result in the reserves lasting 10 years, assuming oil production remains constant until total depletion of the reserves occurs, and no new oil reserves are found.