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A recent report from the International Energy Agency

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A recent report from the International Energy Agency  [#permalink]

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New post 29 Jun 2018, 07:11
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A recent report from the International Energy Agency (IEA) on international oil supplies indicates that oil prices could increase to over $100 a barrel because of the global energy shortage. The International Energy Agency, an organization representing the 26 nations of the Organization for Economic Cooperation and Development (OECD), is generally considered a reliable indicator of international energy supplies. In a distinct change from its former reports, the IEA has suggested in its recent report that world governments need to make urgent revisions on energy-related policies if a global energy crisis is to be avoided.

According to the report, the reason for the IEA's warning is its anticipation that economic progress will increase global energy demands by about 50% in the next fifteen years. The majority of this demand is expected to come from China and India, which will be accountable for over 60 percent of carbon emissions, the chief reason for global warming, by 2030. Another reason stated for the IEA’s cautionary notice is that the number of oil suppliers is steadily decreasing. Since oil deposits in the North Sea region will soon be exhausted, countries supplying oil will be limited to those in the Gulf of Persia.

The government can address this imminent crisis through just one policy change. A team of Harvard analysts has predicted that if oil production is considerably expanded, oil prices could fall in the next decade. The team maintains that if previously under-utilized sources of oil are harnessed and more funding is provided for the setting up of new local refineries, the impending crisis could be avoided.


1. According to the passage, the International Energy Agency agrees over which of the following?
A. Members of the OECD will have primary access to oil supplies.
B. There is no other reliable indicator of international energy supplies.
C. Steps can be taken to avert an energy crisis on a worldwide level.
D. Some countries with increased demand for oil will escalate the issue of global warming by 60%.
E. Countries with dwindling oil supplies are likely to become much larger consumers of oil.

A. Incorrect: Out of Scope

This information is not stated in the passage.
B. Incorrect: Out of Scope

This information is not stated in the passage.
C. Correct

This information is stated in the last sentence of the first paragraph. The IEA suggests that if a global energy crisis is to be avoided, then the world governments need to take some urgent steps.
D. Incorrect: Inconsistent

The passage states that China and India will be accountable for the majority of the carbon emissions (60%) and that these emissions are a chief reason for global warming. The passage does not tell us anything about the increase in the gravity of global warming.
E. Incorrect: Out of Scope

This information is not stated in the passage.




2. Which of the following can be derived on the basis of the information given in the passage?
A. The IEA probably believes that it is unlikely that there will be increased funding for the setting up of new local refineries.
B. The new report reflects a change in the IEA’s stated position on the global energy crisis.
C. The increased oil consumption in India and China will reduce the amount of oil that is available for other countries and hence retard their economic progress.
D. Oil prices will decrease if previously unused sources of oil are harnessed.
E. World governments are not taking any tangible steps to avoid the oil crisis.

A.Incorrect: Out of Scope

We are not given any information on IEA’s take on the required funding mentioned by the team of Harvard analysts.
B.Correct

This information can be deduced from the following section of the passage:

In a distinct change from its former reports, the IEA has suggested in its recent report that world governments need to make urgent revisions on energy-related policies if a global energy crisis is to be avoided.
C. Incorrect: Out of Scope

The impact of the increased energy demands by India and China on the economic progress of other countries is neither stated nor implied in the passage.
D. Incorrect: Inconsistent

First of all the stated decrease in oil prices forms an opinion by the team of Harvard Analysts and is not a statement that most agencies agree on. Secondly, even the Harvard analysts do not make such a strong prediction. The choice uses the word “will” whereas the team says the prices “could” decrease.
E. Incorrect: Inconsistent

The IEA states that world governments should make urgent revisions to oil-related policies. This statement does not indicate that governments have not taken any practical measures to resolve the situation.



3. Which of the following statements would the author most likely agree with?
A. Both the IEA and the team of Harvard analysts agree that the oil crisis is avoidable.
B. Other reliable indicators of international energy supplies are needed.
C. If the impending energy crisis is avoided, global warming will decrease.
D. The Harvard analysts disagree that a global oil crisis is impending.
E. The opinion of the team of Harvard analysts has more credibility than the report issued by the IEA.

A. Correct

This information can be deduced from two different sections of the passage. In the last sentence of the first paragraph, we are told that the IEA has suggested the world governments to take some urgent steps if the global oil crisis is to be avoided. Similarly, in the last sentence of the second paragraph, we are told that the team believes that the crisis could be avoided if the necessary steps are taken.
B. Incorrect: Out of Scope

The author states that the IEA is a reliable indicator but does not suggest that others are needed.
C. Incorrect: Out of Scope

There is no information given in the passage to deduce anything about the gravity of the global warming situation.
D. Incorrect: Inconsistent

The lasts sentence of the passage states that:

The team maintains that if previously under-utilized sources of oil are harnessed and more funding is provided for the setting up of new local refineries, the impending crisis could be avoided.

From the above section, we can infer that the team agrees that there is an impending crisis but states that it could be avoided, if the necessary steps are taken.
E. Incorrect: Out of Scope

We do not know if the author believes this since no evaluation of either of the arguments is presented in the passage.


4. Which of the following best describes the author’s main purpose behind sharing the opinions of the team of Harvard analysts?
A. To suggest that the IEA might have wrongly preempted an impending crisis
B. To give information about the possible sources of oil supply
C. To share an opinion that could be superior to the one stated by the IEA about the supply of oil
D. To bring out an inherent contradiction in the IEA’s prediction of oil deposits
E. To suggest one way in which the oil supply crisis can be averted.

A.Incorrect: Out of Scope

First of all, the author does not give/suggest any personal opinion on the IEA’s understanding of the crisis. Secondly, both the Harvard team of analysts and the IEA agree that a crisis is impending.
B. Incorrect: Inconsistent

First of all, there is no specific information given about where all the oil supply could come from. There is indeed a mention of possibly increasing oil supply. But this information is given to us to serve a broader purpose. The author wants to share a way with which the crisis can be avoided.
C. Incorrect: Out of Scope

The author does not suggest any supremacy of opinions/authority in the passage.
D. Incorrect: Out of Scope

There is no inherent contradiction anywhere in the passage, leave alone IEA’s prediction.
E. Correct

This answer choice matches our pre-thinking and our understanding in the passage analysis.


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Re: A recent report from the International Energy Agency  [#permalink]

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New post 29 Jun 2018, 08:25
I need help with Q1 and Q2.
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Re: A recent report from the International Energy Agency  [#permalink]

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New post 29 Jun 2018, 11:10
1
raveeshgmat wrote:
I need help with Q1 and Q2.

My first attempt i got Q2 wrong but after I read it carefully I understand why I got the wrong answer.
But I think i can help you.

1. According to the passage, the International Energy Agency agrees over which of the following?
A. Members of the OECD will have primary access to oil supplies. --> not mentioned in the passage
B. There is no other reliable indicator of international energy supplies.
The International Energy Agency, an organization representing the 26 nations of the Organization for Economic Cooperation and Development (OECD), is generally considered a reliable indicator of international energy supplies. ---> There must be other indicators which we don't know if they are more or less reliable
C. Steps can be taken to avert an energy crisis on a worldwide level.
the IEA has suggested in its recent report that world governments need to make urgent revisions on energy-related policies if a global energy crisis is to be avoided. ---> Yes there is a way to avoid the crisis. Correct
D. Some countries with increased demand for oil will escalate the issue of global warming by 60%. ---> We only know that China and India will increase CO2 emission by 60% but we don't know that it will increase global warming at what degree. D. Out
E. Countries with dwindling oil supplies are likely to become much larger consumers of oil. --> not mentioned in the passage

2. Which of the following can be derived on the basis of the information given in the passage?
A. The IEA probably believes that it is unlikely that there will be increased funding for the setting up of new local refineries. --> not mentioned in the passage
B. The new report reflects a change in the IEA’s stated position on the global energy crisis.
In a distinct change from its former reports, the IEA has suggested in its recent report that world governments need to make urgent revisions on energy-related policies if a global energy crisis is to be avoided. ---> Ok obviously stated that there is a big change. This choice is correct.
C. The increased oil consumption in India and China will reduce the amount of oil that is available for other countries and hence retard their economic progress. --> not mentioned in the passage
D. Oil prices will decrease if previously unused sources of oil are harnessed.
The team maintains that if previously under-utilized sources of oil are harnessed and more funding is provided for the setting up of new local refineries, the impending crisis could be avoided.
To be honest, I chose this choice and ten I realized that the conditions to avoid the crisis are
1.previously under-utilized sources of oil are harnessed
AND
2. more funding is provided
So only unused sources of oil are harnessed can't avoid the crisis

E. World governments are not taking any tangible steps to avoid the oil crisis. --> not mentioned in the passage
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Re: A recent report from the International Energy Agency  [#permalink]

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New post 04 Sep 2018, 22:56
1
1
1. According to the passage, the International Energy Agency agrees over which of the following?


A. Members of the OECD will have primary access to oil supplies.

Incorrect: Out of Scope. This information is not stated in the passage.

B. There is no other reliable indicator of international energy supplies.

Incorrect: Out of Scope. This information is not stated in the passage.

C. Steps can be taken to avert an energy crisis on a worldwide level.

Correct. This information is stated in the last sentence of the first paragraph. The IEA suggests that if a global energy crisis is to be avoided, then the world governments need to take some urgent steps.

D. Some countries with increased demand for oil will escalate the issue of global warming by 60%.

Incorrect: Inconsistent. The passage states that China and India will be accountable for the majority of the carbon emissions (60%) and that these emissions are a chief reason for global warming. The passage does not tell us anything about the increase in the gravity of global warming.

E. Countries with dwindling oil supplies are likely to become much larger consumers of oil.

Incorrect: Out of Scope. This information is not stated in the passage.

2. Which of the following can be derived on the basis of the information given in the passage?


A. The IEA probably believes that it is unlikely that there will be increased funding for the setting up of new local refineries.

Incorrect: Out of Scope. We are not given any information on IEA’s take on the required funding mentioned by the team of Harvard analysts.

B. The new report reflects a change in the IEA’s stated position on the global energy crisis.

Correct. This information can be deduced from the following section of the passage:

In a distinct change from its former reports, the IEA has suggested in its recent report that world governments need to make urgent revisions on energy-related policies if a global energy crisis is to be avoided.

C. The increased oil consumption in India and China will reduce the amount of oil that is available for other countries and hence retard their economic progress.

Incorrect: Out of Scope. The impact of the increased energy demands by India and China on the economic progress of other countries is neither stated nor implied in the passage.

D. Oil prices will decrease if previously unused sources of oil are harnessed.

Incorrect: Inconsistent. First of all the stated decrease in oil prices forms an opinion by the team of Harvard Analysts and is not a statement that most agencies agree on. Secondly, even the Harvard analysts do not make such a strong prediction. The choice uses the word “will” whereas the team says the prices “could” decrease.

E. World governments are not taking any tangible steps to avoid the oil crisis.

Incorrect: Inconsistent. The IEA states that world governments should make urgent revisions to oil-related policies. This statement does not indicate that governments have not taken any practical measures to resolve the situation.

3. Which of the following statements would the author most likely agree with?


A. Both the IEA and the team of Harvard analysts agree that the oil crisis is avoidable.

Correct

This information can be deduced from two different sections of the passage. In the last sentence of the first paragraph, we are told that the IEA has suggested the world governments to take some urgent steps if the global oil crisis is to be avoided. Similarly, in the last sentence of the second paragraph, we are told that the team believes that the crisis could be avoided if the necessary steps are taken.

B. Other reliable indicators of international energy supplies are needed.

Incorrect: Out of Scope. The author states that the IEA is a reliable indicator but does not suggest that others are needed.

C. If the impending energy crisis is avoided, global warming will decrease.

Incorrect: Out of Scope. There is no information given in the passage to deduce anything about the gravity of the global warming situation.

D. The Harvard analysts disagree that a global oil crisis is impending.

Incorrect: Inconsistent. The lasts sentence of the passage states that:

The team maintains that if previously under-utilized sources of oil are harnessed and more funding is provided for the setting up of new local refineries, the impending crisis could be avoided.

From the above section, we can infer that the team agrees that there is an impending crisis but states that it could be avoided, if the necessary steps are taken.

E. The opinion of the team of Harvard analysts has more credibility than the report issued by the IEA.

Incorrect: Out of Scope. We do not know if the author believes this since no evaluation of either of the arguments is presented in the passage.

4. Which of the following best describes the author’s main purpose behind sharing the opinions of the team of Harvard analysts?


A. To suggest that the IEA might have wrongly preempted an impending crisis

Incorrect: Out of Scope. First of all, the author does not give/suggest any personal opinion on the IEA’s understanding of the crisis. Secondly, both the Harvard team of analysts and the IEA agree that a crisis is impending.

B. To give information about the possible sources of oil supply

Incorrect: Inconsistent. First of all, there is no specific information given about where all the oil supply could come from. There is indeed a mention of possibly increasing oil supply. But this information is given to us to serve a broader purpose. The author wants to share a way with which the crisis can be avoided.

C. To share an opinion that could be superior to the one stated by the IEA about the supply of oil

Incorrect: Out of Scope. The author does not suggest any supremacy of opinions/authority in the passage.

D. To bring out an inherent contradiction in the IEA’s prediction of oil deposits

Incorrect: Out of Scope. There is no inherent contradiction anywhere in the passage, leave alone IEA’s prediction.

E. To suggest one way in which the oil supply crisis can be averted.

Correct. This answer choice matches our understanding in the passage analysis.
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Re: A recent report from the International Energy Agency &nbs [#permalink] 04 Sep 2018, 22:56
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A recent report from the International Energy Agency

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