What are the 6 main categories of factors affecting resource extraction?
Physical factors
Economic factors
Environmental factors
Political/legal factors
Technological factors
Social/cultural factors
How do physical factors affect resource extraction?
Resource type (renewable vs non-renewable)
Location and accessibility (e.g. remote, mountainous, deep underground)
Climate and weather (e.g. Arctic conditions)
Geology (e.g. concentration and form of the resource)
What are some key economic factors in resource extraction?
Cost of extraction and processing
Market demand and global prices
Infrastructure availability (roads, power, water)
Labour costs and availability
Investment and profitability
How do environmental factors influence resource extraction?
Risk of environmental degradation (e.g. deforestation, pollution)
Biodiversity concerns
Ecosystem fragility
Climate impact (e.g. CO₂ emissions)
Need for environmental impact assessments (EIAs)
How do political and legal factors impact resource extraction?
Government policies and regulations
Licensing and permits
Political stability and corruption levels
International agreements and trade laws
Land ownership and indigenous rights
What role does technology play in resource extraction?
Availability of advanced extraction methods
Cost and efficiency of new technologies
Ability to access previously unreachable reserves
Environmental technologies (e.g. carbon capture, clean-up)
What are some social and cultural considerations in resource extraction?
Impact on local communities (e.g. displacement, jobs)
Indigenous rights and opposition
Cultural value of the land or resources
Risk of conflict or protest
Why is the location of the resource crucial in determining extraction feasibility?
Remote locations increase costs
Difficult terrain may require specialist equipment
Proximity to markets affects transport cost and viability
How can global demand influence resource extraction decisions?
High demand can justify higher extraction costs
Fluctuating prices may affect investment
Demand influences which resources are prioritised
Give an example of a resource extraction affected by multiple factors.
Oil extraction in the Arctic:
.Physical: harsh climate, remote
.Environmental: fragile ecosystems
.Political: disputes over territorial claims
.Technological: advanced drilling tech required
.Economic: high cost, but rising demand
Definition of a Resource Peak
The theoretical point at which HALF of the KNOWN resources of a RESERVE have been extracted
What factors can determine when a resource peaks? (Hubbert’s Curve)
-How much Investment into extracting a resource and then producing and selling it?
-The Demand of the resource
-The impact it has on the environment
-Legislation changes (e.g. asbestos)
