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Of all the times for the U.S. to be discouraging domestic production
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Updated on: 14 Jan 2019, 06:14
Updated on: 14 Jan 2019, 06:14
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61%
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Of all the times for the U.S. to be discouraging domestic production of oil and natural gas, right now might be the worst. Libya's descent into chaos is fueling a rapid rise in oil prices, and unrest in other oil-producing countries in the Middle East and North Africa has led some analysits to predict unprecedented oil-price spikes may be looming.
If the statements above are true, which of the following inference can be most properly drawn?
A) The oil prices at present are the highest of what they might have been in the last few decades.
B) Libya is a major oil producing country.
C) If US allows oil domestic oil production, it may be able to avoid any further price increase.
D) The oil price increases that are predicted by analysts may be larger than those in the recent past.
E) Unrest in oil producing countries in Middle East has impacted overall oil production.
If the statements above are true, which of the following inference can be most properly drawn?
A) The oil prices at present are the highest of what they might have been in the last few decades.
B) Libya is a major oil producing country.
C) If US allows oil domestic oil production, it may be able to avoid any further price increase.
D) The oil price increases that are predicted by analysts may be larger than those in the recent past.
E) Unrest in oil producing countries in Middle East has impacted overall oil production.
Re: Of all the times for the U.S. to be discouraging domestic production
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08 Aug 2013, 15:41
08 Aug 2013, 15:41
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joshnsit wrote:
Of all the times for the U.S. to be discouraging domestic production of oil and natural gas, right now might be the worst. Libya's descent into chaos is fueling a rapid rise in oil prices, and unrest in other oil-producing countries in the Middle East and North Africa has led some analysits to predict unprecedented oil-price spikes may be looming.
If the statements above are true, which of the following inference can be most properly drawn?
A) The oil prices at present are the highest of what they might have been in the last few decades.
B) Libya is a major oil producing country.
C) If US allows oil domestic oil production, it may be able to avoid any further price increase.
D) The oil price increases that are predicted by analysts may be larger than those in the recent past.
E) Unrest in oil producing countries in Middle East has impacted overall oil production.
If the statements above are true, which of the following inference can be most properly drawn?
A) The oil prices at present are the highest of what they might have been in the last few decades.
B) Libya is a major oil producing country.
C) If US allows oil domestic oil production, it may be able to avoid any further price increase.
D) The oil price increases that are predicted by analysts may be larger than those in the recent past.
E) Unrest in oil producing countries in Middle East has impacted overall oil production.
Interesting question!
ANALYZE THE STIMULUS:
Factor #1: Libya's descent into chaos is fueling a rapid rise in oil prices.
Factor #2: unrest in other oil-producing countries in the Middle East and North Africa
Sub conclusion: unprecedented oil-price spikes may be looming.
Main conclusion: Of all the times for the U.S. to be discouraging domestic production of oil and natural gas, right now might be the worst.
KEY WORD: unprecedented oil-price spikes.
ANALYZE EACH OPTION:
If the statements above are true, which of the following inference can be most properly drawn?
A) The oil prices at present are the highest of what they might have been in the last few decades.
Wrong. Nothing about “oil prices at present are the highest”. Probably, the oil prices at present are high, but we do not have enough info to conclude they are the highest.
B) Libya is a major oil producing country.
Wrong. SHELL GAME.
- “oil producing” differs from “oil exporting”. Libya may be a major oil exporting country. It may export a big amount of “rude” oil. So its chaos will have a big impact on oil prices. But, the premises do not say “Libya is a major producing country”.
C) If US allows oil domestic oil production, it may be able to avoid any further price increase.
Wrong. SHELL GAME. It’s wrong because:
- If US allows oil domestic production, it may be able to avoid further price increase in the U.S only. But, C say US can avoid price increase in general. C means U.S only or worldwide?
- C say the US can avoid any further price increase. KEY WORD is “any”. Is it true that the US can avoid any further price increase? The US can avoid only price increase to some extent, not any further price increase.
D) The oil price increases that are predicted by analysts may be larger than those in the recent past.
Correct. The stimulus says: “unprecedented oil-price spikes”. “unprecedented” means “have never happened before”. D is the most properly inference.
E) Unrest in oil producing countries in Middle East has impacted overall oil production.
Wrong. It’s true that unrest in oil producing countries in ME will impact overall oil production. But the unrest did impact or will impact (the time of the impact)? We don’t know. Hence, E is wrong.
Hope it helps.
General Discussion
Re: Of all the times for the U.S. to be discouraging domestic production
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13 Jan 2013, 14:38
13 Jan 2013, 14:38
The first sentence of the question stem states that it is a bad time for the US to discourage domestic oil production. The second sentence of the question stem states that oil prices are about to rise because of unrest in Libya. One can assume that if the US cuts domestic oil product, therefore increasing their reliance on imported oil, prices will soar because of the unrest in Libya. Therefore, C is correct.
I hope that helps
I hope that helps
"any" is the problem in this option and ,if we go by this choice, this will mean that at any cost, the prices will not rise. But, this can not be proven based on this argument. The prices may remain flat or even dip in the future.
