18e_Key_Question_Answers_Ch_15

18e_Key_Question_Answers_Ch_15 - 15-5 (Key Question)...

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15-5 ( Key Question ) Suppose that you hear two people arguing about energy. One says that we are running out of energy. The other counters that we are running out of cheap energy. Explain which person is correct and why. The second person may be correct; the first is not. There will always be sources of energy available (flowing water, the wind, and the sun, if nothing else), but some aren’t cheap to use. In recent decades oil has been one of the cheapest sources, but as growing demand begins to outstrip our ability to increase production, prices rise and it becomes less cheap. As oil prices rise, other sources of energy (solar, wind, biodiesel) become economically viable. They are not necessarily cheap energy sources as oil was, but they are energy sources. Technological advances may also discover new cheap sources of energy, in which case neither of our two people will be correct. 15-7 ( Key Question ) Recall the model of non-renewable resource extraction presented in Figure 15.7.
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This note was uploaded on 11/25/2010 for the course BUSINESS bus 100 taught by Professor Jones during the Spring '10 term at Thomas Edison State.

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