What is a resource?
Any aspect of the natural environment (usually concentrations of minerals) that can be used to meet human needs. They may be viable to extract at some point but it is uneconomic or unavailable to do so at present
-> eg. 80 million barrels worth of oil beneath Antarctic Ice worth $40 trillion
What is a reserve
The part of a resource that is available for extraction under existing economic and political conditions and with available technology
-> eg. Saudi Arabia proven oil reserves
What are stock resources?
Non-renewable resources which can be permanently expended -> will eventually run out
Eg. fossil fuels
What are flow resources?
Resources that are renewable and can be replaced
Eg. water and timber
What categories can stock resources be classified into?
Possible, inferred, indicated, measured
What is a possible resource (with example)?
What is an inferred resource (with example)?
What is an indicated resource (with example)?
What is a measured resource (with example)?
What is a resource frontier?
An area on the periphery of a country or territory which is being opened for resource extraction for the first time
Eg. Antarctica, the Arctic
What is a resource peak (eg. peak oil)?
The point at which the maximum production rate of a resource occurs, with production declining in subsequent years.
What are the 3 stages in natural resource development over time?
Exploration, exploitation, development
What is the exploration stage?
A scientific and technological process of identifying deposits of the resource -> may be upgraded from possible/inferred to measured
What is the exploitation stage?
The process of extracting the resource and using it to the fullest or most profitable use
What is the development stage?
After the initial exploitation, there may be a need to further develop the resource field to meet growing demand or due to declining economic productivity of projects. For example, searching in new areas or develop new approaches
What does Hubbert’s Curve show?
The amount of production of a resource over a time period -> usually increases exponentially until it peaks and is followed by decreasing production
What is an Environmental Impact Assessment (EIA)?
A process used to identify and understand the environmental consequences of a proposed project.
Outline the Arctic as a resource frontier
Outline the distribution of oil
Outline geopolitical factors influencing oil
Why is water a geopolitical risk?
Outline geopolitical issues of the GERD
Why are minerals a geopolitical risk?
Outline the geopolitics of copper