If oil executives read in the newspaper that massive new oil supplies have been discovered under the Pacific Ocean but will likely only be useful in 10 years, what is likely to happen to the supply of oil today?
a. The supply of oil will rise today
b. The supply of oil will fall today
c. There will be no change in the supply of oil
Now my analysis is that this means there would be more competition between the oil suppliers in the future and as a result some oil suppliers may decide to leave the market sooner and as a result the supply of oil will decrease. But according to the site the correct answer is that the supply of oil will rise. What is wrong with my analysis?