Increasing demand for oil from China and other countries is causing worries that a global oil shortage could occur. How ought a change in the price of oil to stop such a shortage from arising?
- APrice should fall to reduce demand and encourage a search for more oil.
- BPrice should fall to reduce supply and encourage a reduction in fuel use.
- CPrice should rise to reduce demand and encourage a search for alternative fuels.
- DPrice should rise to reduce supply and encourage a switch to alternative fuels.