Resource key terms

Question 1

Define a Flow resource

Answer 1

Flow resources are Flow resources because they flow or move, its movement can be harnessed for energy.

For example wind turbines harnessing wind or water mills harnessing water, or hydroelectric dams harnessing the kinetic energy from the water.

These resources are renewable.

Question 1

Define a Stock resource

Answer 1

Resources that form over millions of years and are still (rather than flowing), they are finite and non renewable.

For example coal, oil or gas.

Question 2

Define Peak oil

Answer 2

Peak Oil is a hypothetical point of which global oil production maximises and then starts to decline irreversibly.

Question 3

Define a Measured resource

Answer 3

Measured resources are resources that have undergone further sampling and have been declared to have an acceptable estimate, at a high degree of confidence, of the grade/quality, quantity, shape and densities.

An estimate that there is the presence of resources.

Question 4

Define a Proven reserve

Answer 4

A Proven resource is a reserve that has proof there is resources in it.