Read this passage carefully and answer the questions that follow
If present trends continue, the world would face a major crisis by the end of this century; insufficient, cheap, convenient energy. For without such energy, industrial production will fall, agricultural production will drop, transport will be restricted and standard of living in developed countries will plummet. At present, almost all out energy comes from fossil fuels. The earth's reserves of fossil fuels have been formed from organic matter subjected to enormous heat and pressure for millions of years. But such reserves are finite.
Because power demand is increasing very rapidly, fossil fuels will be exhausted within a relatively short time We can estimate the amount of recoverable fuel under the surface of the earth and we know the calculations can therefore determine the remaining life.
If present trends continue, gas and oil reserves will be exhausted by the middle of the 21st century - about 70 years from now.
Similar estimates for coal and wood reserves suggest a projected supply of 250 — 300years, Of course long before fossil fuels are exhausted: demand will greatly exceed supply.
For too many years, the world has consumed fossil fuels with little thoughts of the future. In fact, world energy consumption increased almost 600% between 1900 and 1965 and it is projected ween 1965 and the year 2010.
Crude oil has been pumped out of the ground for about 100 years, but over half of it has been consumed in the past 18 years. Coal has been mined over 800 years but over half of it has been extracted in the past 37 years. In sum, most of the world's consumption of energy from fossil fuels throughout history, has taken place within living memory.
The expression, standard of living in developed countries will plummet, means ____________
A. The economy of rich nations will stagnate B. Economic life will improve in rich nations C. Purchasing power will decline sharply in rich nations D. People in developed nations will experience boom
