Since 1950, global oil consumption has increased and global oil discovery has decreased.

Since 1950, global oil consumption has increased and global oil discovery has decreased.

• A. increased, increased
• B. increased, decreased
• C. decreased, increased
• D. decreased, decreased

Answer: (B)

Oil is a finite resource, so how much we use over time depends on both demand and how much new oil is found. Since 1950, global consumption has climbed as populations grow and economies industrialize, boosting demand for transportation fuels, electricity, and petrochemical feedstocks. Meanwhile, the rate at which new oil reserves are discovered has generally fallen. The biggest, easily accessible fields were largely found earlier in the history of exploration, and the remaining discoveries tend to be smaller, deeper, or more costly to develop, so the pace of finding new oil has not kept up with rising consumption. This mismatch—more oil used than new reserves found—fits the pattern of increased consumption with decreased discovery.

Oil is a finite resource, so how much we use over time depends on both demand and how much new oil is found. Since 1950, global consumption has climbed as populations grow and economies industrialize, boosting demand for transportation fuels, electricity, and petrochemical feedstocks. Meanwhile, the rate at which new oil reserves are discovered has generally fallen. The biggest, easily accessible fields were largely found earlier in the history of exploration, and the remaining discoveries tend to be smaller, deeper, or more costly to develop, so the pace of finding new oil has not kept up with rising consumption. This mismatch—more oil used than new reserves found—fits the pattern of increased consumption with decreased discovery.