When the term Faustian bargain is applied in the text's discussion of the oil and natural gas industries, it refers to the idea that _____.
a. the price of oil in a technical, short-term sense is low, but the price in a broad, difficult-to-define, long-term environmental sense is high
b. the state must make tradeoffs between the oil industry and the natural gas industry
c. the state must plan to transition to other industries as it runs out of oil and natural gas
d. the state's tax structure overrelies on taxes from the oil and natural gas industries
e. all of these
Question 2
Which of these is an argument against continued reliance on oil and natural gas for the Texas economy?
a. Burning fossil fuels creates a greenhouse effect that is causing the Earth's climate to warm.
b. The act of drilling, producing, and transporting oil introduces many opportunities for environmental degradation.
c. As the easy-to-find-and-produce fields dry up, oil companies look for oil in places that are harder to reach, andmore environmentally sensitive.
d. The chemicals used for hydraulic fracturing or fracking contain toxic substances.
e. All of these are arguments against continued reliance on oil and natural gas.
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