Resources PMT Flashcards
What is a resource?
A resource is any type of asset, commodity or item which has value to enhance the quality ofhuman life or help it function more effectively
What is a stock Resource?
Finite and will run out eventually e.g. fossil fuels.
What is a Flow resource?
Infinite and can be replenished and renewed e.g. biofuel.
What is a Natural resource?
are those that exist without human intervention and can include stock and
flow resources.
What are the processes of explorations?
Inferred resources
Possible resources
Indicated resources
Measured resources
What is an Inferred resource?
Economic viability
of resource is uncertain
What is a Possible resource?
Expected that
inferred resource could
become indicated with
further exploration
What is an Indicated resource?
Conditions and location of resource can be predicted to allow initial planning
What is exploration?
is the process of searching for available resources and then upgrading the resource
from inferred to measured if appropriate
Why are resources difficult to find?
Resources are difficult to find due to their uneven
global distribution, but new technologies such as remote sensing, allow more efficient
exploration.
What is exploitation?
is the process of extracting the material from the ground and its use is
dependent on the economic viability of a resource
What does exploitation vary due to?
- Grade of Deposit
- Geological struture of the Ground
- Proximity to Markets
How does exploitation vary due to Grade of deposit?
- High grade deposit is more viable
- Quantity of high grade ore decreases, as more resources are exploited
- Remaining high grade deposits are difficult to access/exploit
How does exploitation vary due to Geological structure of the ground?
- Resources close to the surface are easier and cheaper to exploit in open pit mining.
- Resistant rock will take longer and be more expensive to exploit
How does exploitation vary due to Proximity to Markets?
- Stock resources are often bulky, so large travel distances have a cost.
- For more expensive materials such as diamond, this is less important
What is a resource frontier?
is the boundary between exploited areas and areas considered too difficult to
exploit under current political and technological conditions
Why are resource frontiers changing?
Resource frontiers are changing as technology advances to allow new area to be exploited.
WHat are changing/warmer climates leading to?
Changing/warmer climates may allow areas such as Antarctica to be exploited.
What will happen to resources overtime?
The amount of the resource being extracted will vary over time
What is the long-term tend of peak oil known as?
Hubbert’s Curve
What does the Hubbert curve show?
Production increases exponentially until it peaks around
halfway through available resources and is followed by decreasing production.
Do all patterns of production follow the hubbert curve?
Not all production follows this curve precisely ,
However, on a global scale, the production will follow the bell-shaped curve.
There will be fluctuations from the expected curve and recent data on global oil production
demonstrates this
When is the expected peak in oil?
It is predicted that in 2030, peak oil will occur.
The rime at which peak production occurs is dependent on?
● The availability and discovery of reserves
● Development of new technologies
● Demand for the resource (may decrease or increase suddenly as a result of research into a
material or new uses that are found for a material). How will electric vehicles affect the
demand for oil in ten years time?
● Grade of available resources
What does sustainable refer to?
Sustainable refers to the ability to keep something going in the long-term.
It can refer to the
production of a stock resource and involve environmental, social, economic and political
factors
What does sustainable resource development involve?
involves long-term planning that ensures extraction does not increase too quickly or rise to unsustainable levels.