(Answered) Question new technology has allowed oil to be pumped from

Economics

Question: New technology has allowed oil to be pumped from much deeper offshore oil fields than before. For example, 28 deep ocean rigs operate in the deep waters of the Gulf of Mexico.

a. What effect do you think deep ocean sources have had on the world oil price?

b. Who will benefit from drilling for oil in the Gulf of Mexico? Explain your answer.

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