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Quote:
(E) It is estimated that by the end of the decade the cost to the United States petroleum industry of meeting environmental regulations will be ten percent of the price per barrel of refined petroleum.

Hi DmitryFarber AjiteshArun GMATNinja

While i was able to choose E using POE, i am curious to know if there an antecedent for it in the above option ?
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By noticing one word we can Eliminate 3 options very easily
Its Projection vs Estimation
We can't Project the Cost but Estimate it so Option A,B,C are out
Between D&E
D-' refined petroleum by the end of the decade' sounds way to awkward
Answer-E
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Hi DmitryFarber AjiteshArun GMATNinja

While i was able to choose E using POE, i am curious to know if there an antecedent for it in the above option ?
Hi SD0715,

A that-clause is normally not preferred as the subject of a sentence. The it we see here helps us move the that-clause to the right of the verb.

We can say that the it refers to the entire that-clause ("that by the end of the decade the cost to the United States petroleum industry of meeting environmental regulations will be ten percent of the price per barrel of refined petroleum").

We can also call this type of it (anticipatory or preparatory it) a dummy pronoun.
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The United States petroleum industry’s cost to meet environmental regulations is projected at ten percent of the price per barrel of refined petroleum by the end of the decade.

(A) The United States petroleum industry’s cost to meet environmental regulations is projected at ten percent of the price per barrel of refined petroleum by the end of the decade.

(B) The United States petroleum industry’s cost by the end of the decade to meet environmental regulations is estimated at ten percent of the price per barrel of refined petroleum.

(C) By the end of the decade, the United States petroleum industry’s cost of meeting environmental regulations is projected at ten percent of the price per barrel of refined petroleum.

(D) To meet environmental regulations, the cost to the United States petroleum industry is estimated at ten percent of the price per barrel of refined petroleum by the end of the decade.

(E) It is estimated that by the end of the decade the cost to the United States petroleum industry of meeting environmental regulations will be ten percent of the price per barrel of refined petroleum.


The whole sentence is underlined and we have to choose the best of the options!
"By the end of the decade" is the clue that hints towards Tenses. Let's look for an option that uses the correct tenses- present for what is happening now and future for what will happen by the end of the decade.

Estimated at and projected at denotes that the action is taking place in the present. But both of these cannot be used for an action that will take place by the end of the decade. Hence we need to use the verb in the future tense.

Changing projected at to projected to be still doesn’t make C a better choice. C means that by the end of the decade, the cost is projected to be X.
Projection/ estimation is done now regarding how it will be by the end of the decade.

The meaning is best captured in E- It is estimated (now) that by the end of the decade the cost will be (future) X.
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The United States petroleum industry’s cost to meet environmental regulations is projected at ten percent of the price per barrel of refined petroleum by the end of the decade.

(A) The United States petroleum industry’s cost to meet environmental regulations is projected at ten percent of the price per barrel of refined petroleum by the end of the decade.

(B) The United States petroleum industry’s cost by the end of the decade to meet environmental regulations is estimated at ten percent of the price per barrel of refined petroleum.

(C) By the end of the decade, the United States petroleum industry’s cost of meeting environmental regulations is projected at ten percent of the price per barrel of refined petroleum.

(D) To meet environmental regulations, the cost to the United States petroleum industry is estimated at ten percent of the price per barrel of refined petroleum by the end of the decade.

(E) It is estimated that by the end of the decade the cost to the United States petroleum industry of meeting environmental regulations will be ten percent of the price per barrel of refined petroleum.

My understanding of the intended meaning is as follows: Currently, the cost of meeting the requirements is moderate, but by the end of the decade it is expected to rise to X.
While the answers seem to be conveying something a tiny bit different:

A - ...barrel of refined petroleum by the end of the decade. So we take all the barrels to be produced by the end of the decade, multiply their value by 10% and we get the expected cost. This is not the same.
B - ... cost by the end of the decade... so we take this cost for the next few years and it is equal to 10% of revenue. Again, a bit of changed meaning
C - By the end of the decade X is projected - So in this decade we use one technique to project X, and in the next decade, the analysts of the future are going to project X using different technique?
D - To meet environment regulations the cost is estimated - so we estimate to meet environment regulations? This is the purpose of estimating?
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The United States petroleum industry’s cost to meet environmental regulations is projected at ten percent of the price per barrel of refined petroleum by the end of the decade.

(A) The United States petroleum industry’s cost to meet environmental regulations is projected at ten percent of the price per barrel of refined petroleum by the end of the decade.

(A) is wrong because "by the end of the decade" is misplaced. Does it modify "price per barrel of petroleum" or "cost projected at ten percent"? Either way, incorrect.

(B) The United States petroleum industry’s cost by the end of the decade to meet environmental regulations is estimated at ten percent of the price per barrel of refined petroleum.

Cost....to meet regulations - I don't like that gap. You can possibly keep, but (B) is OUT

(C) By the end of the decade, the United States petroleum industry’s cost of meeting environmental regulations is projected at ten percent of the price per barrel of refined petroleum.

Same with (A)

(D) To meet environmental regulations, the cost to the United States petroleum industry is estimated at ten percent of the price per barrel of refined petroleum by the end of the decade.

Sounds like the cost is trying to meet the regulations. OUT

(E) It is estimated that by the end of the decade the cost to the United States petroleum industry of meeting environmental regulations will be ten percent of the price per barrel of refined petroleum.

Clean sentence. (E) is the answer.
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The United States petroleum industry’s cost to meet environmental regulations is projected at ten percent of the price per barrel of refined petroleum by the end of the decade.


Option Elimination -
There are two things to avoid on GMAT (I know it's easier than done, but it'll surely help; conversely, not avoiding these two will do their best to ensure that you get into the trap). Our goal is to avoid the traps and not get into them and lose marks; back to our two things.
1. Using your ear - You are wrong if your ear said that one of the two "cost to" or "cost" is better. Both are ok. "Cost of" indicates the value of an item or a service. E.g., The cost of the car is $30,000. "Cost to" expresses the amount required to perform an action. E.g., The cost to repair the car was substantial.
2. Using Idioms - If you think Estimated to be is correct and Estimated at is wrong, then you are wrong. Both are ok. "Estimated at" is used to provide a specific numeric estimation. E.g., The cost of the project is estimated at $1 million. "Estimated to be" is used when expressing general estimation or approximation. E.g., The number of attendees is estimated to be around 500.

So, it's difficult for most of us, but the earlier we stop these 2, the quicker we'll reach your goal of getting a better scope. Oh, you think you know idioms very well and are all good. Here is the googly for you: https://gmatclub.com/forum/gone-are-the ... 65017.html

Against these two, look for "the meaning" that, if difficult at first, will never let you down. The easier path is normally the difficult path in the end. :)

Anyway, enough of philosophy and gyan, returning to our elimination here. Before that, let's simplify this "ten percent of the price per barrel of refined petroleum" to clarify things. Let's assume the price per barrel of refined petroleum is $70. So what is 10% of $70? It's $7. So ultimately, all this "ten percent of the price per barrel of refined petroleum" translates to $7, which is some number.

(A) The United States petroleum industry’s cost to meet environmental regulations is projected at ten percent of the price per barrel of refined petroleum by the end of the decade. - We are projecting something by the end of the decade, a time marker. So the skeleton of the sentence is "cost is projected at $7 by the end of the decade." We are projecting something for ten years later. So, will this not be a better way of saying, "It is estimated that by the end of the decade, the cost will be $7." Using the future rather than the present tense for the future is better. "Projected at" refers to a specific location, not a projected value. E.g., The company's new headquarters is projected at the city center. "Projected that" is typically used to provide additional information and not express future projections. E.g., The report projected that the company's profits would increase by 20% this year. Thus, I used "Estimated."

(B) The United States petroleum industry’s cost by the end of the decade to meet environmental regulations is estimated at ten percent of the price per barrel of refined petroleum. Though it is better than A, using the future tense to refer to the future is better than using the present tense for the future.

(C) By the end of the decade, the United States petroleum industry’s cost of meeting environmental regulations is projected at ten percent of the price per barrel of refined petroleum. - same issue as in A and B.

(D) To meet environmental regulations, the cost to the United States petroleum industry is estimated at ten percent of the price per barrel of refined petroleum by the end of the decade. It's the same tense issue.

(E) It is estimated that by the end of the decade the cost to the United States petroleum industry of meeting environmental regulations will be ten percent of the price per barrel of refined petroleum. Best amongst the lot. "It is estimated that by the end of the decade, the cost will be $7."
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