GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 22 Oct 2018, 05:13

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

In the United States proven oil reserves—the amount of oil considered

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

Manager
Manager
User avatar
B
Joined: 05 Oct 2016
Posts: 130
Location: China
Concentration: Healthcare, Entrepreneurship
WE: Sales (Health Care)
In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post Updated on: 21 Sep 2017, 08:05
1
8
00:00
A
B
C
D
E

Difficulty:

  35% (medium)

Question Stats:

67% (01:38) correct 33% (01:43) wrong based on 452 sessions

HideShow timer Statistics

In the United States proven oil reserves—the amount of oil considered extractable from known fields—are at the same level as they were ten years ago. Yet over this same period no new oil fields of any consequence have been discovered, and the annual consumption of domestically produced oil has increased.

Which one of the following, if true, best reconciles the discrepancy described above?

(A) Over the past decade the annual consumption of imported oil has increased more rapidly than that of domestic oil in the United States.
(B) Conservation measures have lowered the rate of growth of domestic oil consumption from what it was a decade ago.
(C) Oil exploration in the United States has slowed due to increased concern over the environmental impact of such exploration.
(D) The price of domestically produced oil has fallen substantially over the past decade.
(E) Due to technological advances over the last decade, much oil previously considered unextractable is now considered extractable.

Source: LSAT

i chose A but OA is E. i don't think E can really be the reason why consumption increased but A explained it directly.
can someone help please.

_________________

LSAT CR is driving me mad


Originally posted by YangYichen on 09 Dec 2016, 18:47.
Last edited by broall on 21 Sep 2017, 08:05, edited 1 time in total.
Reformatted question
Math Expert
User avatar
V
Joined: 02 Aug 2009
Posts: 6976
Re: In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post 09 Dec 2016, 20:07
2
YangYichen wrote:
In the United States proven oil reserves—the amount of oil considered extractable from known fields—are at the same level as they were ten years ago.Yet over this same period no new oil fields of any consequence have been discovered, and the annual consumption of domestically produced oil has increased.
Which one of the following, if true, best reconciles the discrepancy described above?
(A) Over the past decade the annual consumption of imported oil has increased more rapidly than that of domestic oil in the United States.
(B) Conservation measures have lowered the rate of growth of domestic oil consumption from what it was a decade ago.
(C) Oil exploration in the United States has slowed due to increased concern over the environmental impact of such exploration.
(D) The price of domestically produced oil has fallen substantially over the past decade.
(E) Due to technological advances over the last decade, much oil previously considered unextractable is now considered extractable.
i chose A but OA is E. i don't think E can really be the reason why consumption increased but A explained it directly.
can someone help please.


Hi
A is ruled out because of the coloured portion
Quote:
Yet over this same period no new oil fields of any consequence have been discovered, and the annual consumption of domestically produced oil has increased.


The statement above itself says domestic oil consumption has increased.
A just says that consumption of imported oil has increased more rapidly, but the fact remains that domestic oil consumption too has increased.
So A can be ruled out..

Now E tells us that the new methods have found new oil in the existing oil fields.
This reconciles the fact that even with more consumption and no new fields found, the oil reserves remain the same
_________________

1) Absolute modulus : http://gmatclub.com/forum/absolute-modulus-a-better-understanding-210849.html#p1622372
2)Combination of similar and dissimilar things : http://gmatclub.com/forum/topic215915.html
3) effects of arithmetic operations : https://gmatclub.com/forum/effects-of-arithmetic-operations-on-fractions-269413.html


GMAT online Tutor

Manager
Manager
User avatar
B
Joined: 05 Oct 2016
Posts: 130
Location: China
Concentration: Healthcare, Entrepreneurship
WE: Sales (Health Care)
Re: In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post 09 Dec 2016, 20:34
1
chetan2u u go straight to the heart of my problem
i got u point thx a lot!
_________________

LSAT CR is driving me mad

Intern
Intern
avatar
B
Joined: 29 Dec 2016
Posts: 22
Location: Bangladesh
Concentration: Finance, Entrepreneurship
GMAT 1: 550 Q47 V20
GPA: 3.2
Re: In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post Updated on: 25 Jan 2017, 04:08
1
In the United States proven oil reserves—the amount of oil considered extractable from known fields—are at the same level as they were ten years ago. Yet over this same period no new oil fields of any consequence have been discovered, and the annual consumption of domestically produced oil has increased.

Which one of the following, if true, best reconciles the discrepancy described above?

(A) Over the past decade the annual consumption of imported oil has increased more rapidly than that of domestic oil in the United States.
(B) Conservation measures have lowered the rate of growth of domestic oil consumption from what it was a decade ago.
(C) Oil exploration in the United States has slowed due to increased concern over the environmental impact of such exploration.
(D) The price of domestically produced oil has fallen substantially over the past decade.
(E) Due to technological advances over the last decade, much oil previously considered unextractable is now considered extractable.

Originally posted by Nahid078 on 24 Jan 2017, 22:08.
Last edited by carcass on 25 Jan 2017, 04:08, edited 2 times in total.
Edited the post
Manager
Manager
avatar
S
Joined: 25 Nov 2016
Posts: 54
Location: Switzerland
GPA: 3
Premium Member
Re: In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post 25 Jan 2017, 07:56
Hi,
I was hesitating between A and E and wrongly chose A

So why A is wrong?? I think maybe because the consumption of imported oil may be not correlated with the consumption of domestic oil and therefore the amount of oil extractable muss decrease -> Not resolve the paradox
But I am not sure of this assumption to make this statement wrong, if anyone could help me..
Director
Director
avatar
P
Joined: 14 Nov 2014
Posts: 639
Location: India
Schools: Rotman '20 (S)
GMAT 1: 700 Q50 V34
GPA: 3.76
Re: In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post 25 Jan 2017, 11:13
Nahid078 wrote:
In the United States proven oil reserves—the amount of oil considered extractable from known fields—are at the same level as they were ten years ago. Yet over this same period no new oil fields of any consequence have been discovered, and the annual consumption of domestically produced oil has increased.

Which one of the following, if true, best reconciles the discrepancy described above?

(A) Over the past decade the annual consumption of imported oil has increased more rapidly than that of domestic oil in the United States.
(B) Conservation measures have lowered the rate of growth of domestic oil consumption from what it was a decade ago.
(C) Oil exploration in the United States has slowed due to increased concern over the environmental impact of such exploration.
(D) The price of domestically produced oil has fallen substantially over the past decade.
(E) Due to technological advances over the last decade, much oil previously considered unextractable is now considered extractable.



I also went for A..but later saw that argument is telling about "domestically produced oil".....missing one word and u fell in the GMAT trap.......
Director
Director
User avatar
S
Affiliations: CrackVerbal
Joined: 03 Oct 2013
Posts: 523
Location: India
GMAT 1: 780 Q51 V46
Re: In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post 28 Jan 2017, 04:35
Top Contributor
1
Simplify the argument given -

1. the annual consumption of domestically produced oil has increased.
2. No new fields have been discovered.

However,
the amount of oil considered extractable from known fields is at the same level

We need to explain the last statement.

A - Incorrect.
Not relevant because we know from point #1 that the consumption of domestically produced oil has increased.

B - Incorrect.
Okay. But still we know that the consumption of domestically produced oil has increased. Hence, logically, the amount of oil considered extractable must reduce.

C - Incorrect.
Does not add any new information as we already know that no new fields of consequence have been discovered.
Hence, this does not explain the why amount of oil considered extractable is at the same level.

D - Incorrect.
Reduction in price --> leads to more consumption --> worsens the paradox

E - Correct answer.
this explains why even though the consumption of oil has increased, there has been no decline in the amount of oil considered extractable. Because oil that wasn't earlier considered extractable is now extractable.
_________________

For more info on GMAT and MBA, follow us on @AskCrackVerbal

SVP
SVP
avatar
P
Joined: 12 Dec 2016
Posts: 1709
Location: United States
GMAT 1: 700 Q49 V33
GPA: 3.64
GMAT ToolKit User Premium Member
Re: In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post 26 Jun 2017, 09:35
A is not the right answer because higher increasing does not mean the higher consumption of imported oil.
In addition, the word "domestic oil" is unclear and tricky -> A should be avoided.
Manager
Manager
avatar
G
Joined: 08 Apr 2017
Posts: 80
In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post 02 Mar 2018, 09:01
1
[quote="YangYichen"]In the United States proven oil reserves—the amount of oil considered extractable from known fields—are at the same level as they were ten years ago. Yet over this same period no new oil fields of any consequence have been discovered, and the annual consumption of domestically produced oil has increased.

Which one of the following, if true, best reconciles the discrepancy described above?

(A) Over the past decade the annual consumption of imported oil has increased more rapidly than that of domestic oil in the United States.
(B) Conservation measures have lowered the rate of growth of domestic oil consumption from what it was a decade ago.
(C) Oil exploration in the United States has slowed due to increased concern over the environmental impact of such exploration.
(D) The price of domestically produced oil has fallen substantially over the past decade.
(E) Due to technological advances over the last decade, much oil previously considered unextractable is now considered extractable.

Source: LSAT

(A) Over the past decade the annual consumption of imported oil has increased more rapidly than that of domestic oil in the United States. This simply states that the consumption of imported oil has increased more rapidly than that of domestic oil. This also means that the consumption of domestic oil has increased (not more than imported oil but has increased definitely). If this is the case we expect the level to be lower than what it was a decade ago
(B) Conservation measures have lowered the rate of growth of domestic oil consumption from what it was a decade ago. Again, it says conservation measures have lowered the rate of growth of domestic oil consumption. This also means that there has been some consumption of the oil. If that is the case, we expect the oil level to be lower than what it was a decade ago
(C) Oil exploration in the United States has slowed due to increased concern over the environmental impact of such exploration. Again, oil exploration in the United States has slowed not stopped. So we expect the level of oil to be lower than what it was 10 years ago
(D) The price of domestically produced oil has fallen substantially over the past decade. Opposite to what we want. If the price has fallen, we expect the consumption to increase
(E) Due to technological advances over the last decade, much oil previously considered unextractable is now considered extractable. Here we are given something different. If oil previously considered unextractable is now considered extractable, then the extra oil that is obtain is what was used in the past 10 years.
Study Buddy Forum Moderator
User avatar
D
Joined: 04 Sep 2016
Posts: 1210
Location: India
WE: Engineering (Other)
Premium Member CAT Tests
In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post 01 Jul 2018, 17:11
GMATNinja VeritasPrepKarishma nightblade354 pikolo2510 generis

Why is (D) an opposite answer?

Quote:
In the United States proven oil reserves—the amount of oil considered extractable from known fields—are at the same level as they were ten years ago. Yet over this same period no new oil fields of any consequence have been discovered, and the annual consumption of domestically produced oil has increased.


If same volume of oil is available for extraction, and if no additional oil fields
are discovered, how could yearly consumption of domestically produced oil increase?

Quote:
(D) The price of domestically produced oil has fallen substantially over the past decade.

If price falls, more people will be able to buy the oil now and hence the consumption shall increase.
Is not this the explanation we are looking for?
_________________

It's the journey that brings us happiness not the destination.

Senior SC Moderator
avatar
V
Joined: 22 May 2016
Posts: 2040
Premium Member CAT Tests
In the United States proven oil reserves—the amount of oil considered  [#permalink]

Show Tags

New post 01 Jul 2018, 19:19
1
2
1
adkikani wrote:
GMATNinja VeritasPrepKarishma nightblade354 pikolo2510 generis

Why is (D) an opposite answer?
Quote:
In the United States proven oil reserves—the amount of oil considered extractable from known fields—are at the same level as they were ten years ago. Yet over this same period no new oil fields of any consequence have been discovered, and the annual consumption of domestically produced oil has increased.

If same volume of oil is available for extraction, and if no additional oil fields
are discovered, how could yearly consumption of domestically produced oil increase?
Quote:
(D) The price of domestically produced oil has fallen substantially over the past decade.

If price falls, more people will be able to buy the oil now and hence the consumption shall increase.
Is not this the explanation we are looking for?

adkikani , You wrote:

If same volume of oil is available for extraction, and if no additional oil fields
are discovered, how could yearly consumption of domestically produced oil

. . . HAVE INCREASED without a simultaneous decrease in available oil levels [my words]?

Whoops. You are answering the wrong question. We do not need to explain the increase in consumption.

We need to explain this apparent paradox: increased consumption of oil should have decreased oil reserve levels. Oil reserve levels did not drop.

How can we consume more oil, but have the same amount of oil in reserve? That discrepancy needs to be explained.

I am not sure what went wrong.

Why is the "same volume of oil" available for extraction? There should be LESS.

Option D does not explain the disparity. Option D probably makes things worse.

1) A price drop does not explain the seeming contradiction between escalated consumption and oil reserves whose levels stayed the same although no new oil fields were discovered.

A lower price cannot explain how available reserve levels can be the same as 10 years ago. Price changes do not create more extractable oil.

2) Option D makes things worse.
If anything -- you are correct about this part -- decreased price equals increased consumption . . .

But a greater increase in consumption should FURTHER decrease reserve levels.
A price drop makes the discrepancy worse (harder to explain).

Increased consumption ... no new oil fields ... but proven oil reserve levels have not dropped? Have stayed the same?

Which answer explains this seeming paradox?

(E) Due to technological advances over the last decade, much oil previously considered unextractable is now considered extractable.

The same fields with the same oil have been altered; technology made the fields able to produce more oil.
That increased production compensated for, or offset, the increase in consumption.

This language is the key to the whole question: "proven oil reserves—the amount of oil considered extractable from known fields . . ."
When LSAC people write definitions that seem incidental or ancillary, pay very close attention to the language.
LSAC folks get specific with language for a reason.
In this case, the reason was to give us a BIG HINT about how to reconcile what seemed like contradictory events.
"Extractability" is the only part of the contradiction that has "give" (that has flexibility, that contains the potential for change).

Hope that helps.
_________________

___________________________________________________________________
For what are we born if not to aid one another?
-- Ernest Hemingway

GMAT Club Bot
In the United States proven oil reserves—the amount of oil considered &nbs [#permalink] 01 Jul 2018, 19:19
Display posts from previous: Sort by

In the United States proven oil reserves—the amount of oil considered

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.