resources Flashcards
what is a stock resource
a finite resource that will no be replenished in our life time
what is a flow resource
a resource that can be constantly replenished but will not be depleted when we use it.
give an example of flow resource
hydropower, solar power
what is a primary resource
something you can use to produce energy without having to change it. e.g. coal, oil, gas, hydropower
what is a secondary resource?
something that needs to be modified in order to make energy.
e.g. wave energy, nuclear energy.
what is resource curse
when a country has one resource to rely on but this makes the country extremely vulnerable to the prices of that resource dropping which can lead to an economic crash. e.g. Senegal and the ground nuts
what is a critical flow resource
a resource which can be exhausted if not carefully managed.
e.g. timber and water
what is a measure reserve
a resource where quality grade or quantity has to be measured to ensure that they can be estimated with confidence in order to call them proven reserves
what is an indicated reserve
part of the mineral resource for which grade or quality and characteristics can be estimated with a level of confidence sufficient to allow evaluation of the economic viability of the deposit.
possible resource
part of the mineral resouce for which quality grade or quantity can only b estimated on the basis of limited geological sampling.
probable reserve
economic extraction of the measured and/or indicated resource is justified
possible reserves
deposits though to exist because the geological reserve terrain is similar to areas that have yielded comparable deposits but not exploration has taken place yet.
recoverable reserve
amounts pf a resource likely to be extracted for commercial use within a certain time period and at certain level of technology.
what is economic viability (resources)
if the resource is worth enough to balance to cost extraction
what 4 things should be considered before extracting a mineral
what is economic viability - if the resource is worth enough to balance to cost extraction
physical availability - patterns and quantities of the resources around the world
legal/ political access - do you have permission to extract the resources from the gov? in most countries the gov owns the resource but in 48 states of america, the resource belongs to the land owner, and they grant the permission for it to be extracted.
environmental concerns - can the resource b extracted without causing unnecessary harm to the environment.
what is the difference between a high and low grade mineral
high grade means that there will be low wastage as there is a high percentage of the mineral within the ore
low grade means high wastage as there is little percentage of the mineral within the ore.
what geopolitical risks are there from extracting minerals
concentration of production in a relatively small number of countries
possibility of conflict, war or other major political tensions in producing regions
what does OPEC stand for
Organization of the Petroleum Exporting Countries
what are some of the opec countries
iraq, iran, saudi arabia, Venezuela, UAE, Nigeria, Niger, Equatorial Guinea, Gabon, Algeria, Libya, Kuwait
What is the main aim of opec?
to stabilise oil prices
what are resource frontiers
areas that have never been extracted for minerals
e.g. Arctic and the shetland islands
