GEOG 361 Lecture Notes - Lecture 9: Non-Renewable Resource, Resource Depletion, Diminishing Returns
Document Summary
Primacy of primary goods: nature, politics and resource cycle(cont. ) Uranium: too hot/cold to handle: there is uranium in bc, but no mine. Human intervention can permanently disrupt renewability i. e over farming (dust bowl effect) But changed environments can also affect renewability: Affects climate patterns and marine life in the ocean: salmon, anchovies(death, non-renewable. If continuously used, they will eventually run out. Period of over expansion of renewable and non-renewable resource production followed by eco-system disruption and economic crisis. Three stages: exploration, discovery + boom (cid:862)potential tage(cid:863) Resources expected to exist, but not discovered yet. Look toward the geology of an area, previous areas of resource extraction. Bre-x, busang, indonesia: claim for 300million oz of gold, resulted in rise in share prices. Getting research started = large sums of money: decline: Diminishing returns falling productivity but fixed prices (result of perfect commodity markets) Result: producers produce more and take on heavier debt burden with consequences: by investing greater amounts.
