Asked by
Ashley McCain
on Dec 12, 2024Verified
Proved reserves of petroleum are
A) the verified quantity of petroleum that can be recovered at current prices and levels of technology.
B) the only reserves likely to be available in the future.
C) refined products awaiting shipment to the market.
D) the total amount of the resource in existence, regardless of the productive effort undertaken to expand the future availability of the resource.
Proved Reserves
Proved reserves are quantities of natural resources, such as oil or natural gas, which have been discovered and are considered recoverable under current economic and operational conditions.
Petroleum
A naturally occurring liquid found beneath the Earth's surface that can be refined into fuel and other products.
Recovered
A state of having improved from or overcome adversity, illness, or a downturn.
- Acknowledge the importance of proven reserves in evaluating the accessibility of natural resources.
Verified Answer
ES
Learning Objectives
- Acknowledge the importance of proven reserves in evaluating the accessibility of natural resources.