3. Correct. The answer is false. If an oil R/P ratio = 15, it means that the country has developed an inventory of 15 years of oil reserves at current production levels. As the country depletes its proven reserves, it will find and develop new reserves. For example, in the US in 1980 oil R/P = 9, but still seventeen years later it remained the same, 1997 US oil R/P = 9.