ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Major agricultural zones
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Locations of outsourced labor for maquiladoras
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Major oil producing zones
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to be a part of LDCs
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Areas of Low GII
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Detailed explanation-1: -The Caspian Sea region is one of the oldest oil-producing areas in the world and is an increasingly important source of global energy production. The area has significant oil and natural gas reserves from both offshore deposits in the Caspian Sea itself and onshore fields in the Caspian basin.
Detailed explanation-2: -The United States is by far the world’s biggest producer of oil, having produced around 16.6 million barrels of oil on average per day in 2021. Saudi Arabia and Russia follow head to head in second and third place, having produced around 11 and 10.9 million barrels of oil per day, respectively.
Detailed explanation-3: -The Gulf continues to be the nation’s primary offshore source of oil and gas, generating about 97% of all U.S. OCS oil and gas production.