Question

Exxon, an energy company, thinks demand for oil, gas, and coal will increase for the foreseeable future, meaning 20-30 years. But they are hedging that bet by investing in small biofuels projects. This is called

Answer 1

Forecasting

Step-by-step explanation:

Forecasting is the way by which businesses predict future economic conditions by using past information and present economic situation to make informed guess about the future.

Forecasting is used by businesses to develop strategies that will ensure their future profitability.

In this instance Exxon predicted demand for oil, gas, and coal will increase for the foreseeable future of 20 to 30 years.

However their present activity is investment I sample biofuel projects.

This is forecasting the trend of demand in the oil and gas industry.