Midterm (up until oct.5) Flashcards
Describe the scarcity-development cycle
- New resources “created”
- Prices fall –> demand rises
- Easily accessible –> Reserves exhausted
- Scarcity
- Prices rise, stimulates R&D
- Innovations lead to substitution, reuse and recycle
- etc. (back to the beginning)
Types of resources
non-renewable, renewable, recyclable
Non-renewable resources examples
petroleum (fossil fuels), coal, natural gas, metals (recycling makes metals semi-renewable)
Non-renewable definition
fixed stock
depletable (natural replenishment too slow)
using them permanently depletes resource
Estimated non-renewable resource definition
total finite physical quantity
Proven or current non-renewable resource definition
known resources profitably extractible given current prices, technology
(we know how, where, how much). Can change with technology and cost
potential non-renewable resource definition
profitably extractible at a given price (example: oil sands, energy alternatives)
If prices increase, what happens to proven and potential reserves
Proven and potential reserves increase
Reserves
measure for availability of resource.
oil in place definition
total estimated amount of oil on Earth (producible and non-producible).
oil reserves
producible oil
Why is some oil non-producible?
reservoir characteristics and limitations in petroleum extraction technologies
recovery factor
the ratio of reserves to the total amount of oil in a particular reservoir
4 highest proven oil reserves ranked highest to lowest
Venezuela
Saudi Arabia
Canada
Iran
Renewable resources definition
natural replenishment at non-negligible useful rate
grow and flow (forests, fish, water, wind, solar)
resources that can be recycled (e.g. metals)
availability (based on regeneration rate)
sustainable yield
common property or public
biological resource
renewable resource
wild game
domesticated animals
forest biomass
wild and domestic plants
non-biological resource
renewable resource
sunlight, water, winds, and waves
ubiquitous resource
available everywhere on the earth
air, water
localized resource
available at select locations on earth
Topography, climate and altitude are the major factors which affect the distribution of natural resources
Who said this: “Population, when unchecked, increases in a geometrical ratio. Subsistence
increases only in an arithmetical ratio. A slight acquaintance with numbers will show the immensity of the first power in comparison of the second”
Malthus
1798
Carrying capacity
maximum population that a given area can sustain
carrying capacity for biological species
maximum number of individual of that species that the environment can carry and sustain considering its geography or physical features
Maximum sustainable yield (MSY)
the largest yield (or catch)
that can be taken from a species’ stock over an indefinite period
Maximum sustainable yield (MSY) of a renewable resource
the rate at which a resource can be extracted without affecting the ability to continue to extract the resource at that rate indefinitely