Oil Depletion The Alaskan oil fields, in operation since 1977, had an estimated reserve

Chapter 1, Problem 108

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Oil Depletion The Alaskan oil fields, in operation since 1977, had an estimated reserve of 4.9 billion barrels in 1999. In 2009, the fields had an estimated reserve of 3.5 billion barrels. Assume the rate of depletion is constant. (a) Find a linear equation that relates the amount A, in millions of barrels, of oil left in the fields at any time t, where t is the year. (b) If the trend continues, when will the fields dry out? (c) Write a practical sentence expressing how A changes for every unit change in t. (d) The Jack Field, discovered in the Gulf of Mexico off the coast of Louisiana in 2006, is estimated to contain up to 15 billion barrels of oil. At the same rate of depletion, how long will this field last? Source: Energy Information Administration