key words

Question 1

what is a resource

Answer 1

any type of asset, commodity or item
it is able to enhance the quality of human life or help it function more effectively

reserve is a known conc. of mineral that can be extracted
resource will be available to extract in the future so can become a reserve

Question 2

catetgories of natural resources

Answer 2

stock - non renewable, often single use but metals can be recycled
flows - renewable in a short timescale. Some require management whilst others do not (Solar)

Question 3

stock resource evaluation

used by planners

Answer 3

Measured
extraction is justified with highest economic viabilty
Indicated
conditions and location of resource can be predicted to allow initial planning. Less confident
Inferred
economic viability of resource is uncertain. More exploitation needed to be confident
Possible
limited knowledge of geology of area. least confident on exact quantity and QUALOTY

Question 4

Natural resource development over time

Answer 4

Exploration
The process of searching for available resources. Can be diffucult due to the UNEVEN distibution worldwide.
advanced technology can make it more efficient
Exploitation
The process of extracting and selling the resource. Depends on the ECONOMIC viability of product and requires government cooperation
Development
Meeting the growing demands for resources
> finding new areas (resource frontier)
> finding new ways to extract (fracking)
often halted by unaccessible areas due to physical (Artic) or politcal instability

Question 5

what is a resource frontier

Answer 5

The boundary between exploited area and areas considered too difficult to exploit.

found on periphery of country and only exploited if all other locations have been exhausted
>the artic is now being explored
> challenges include politcal territorial problems as it borders 5 regional countries

Question 6

what is a resource peak

Answer 6

Resource peak is the phase of maximum production of a resource before depletion occurs .

• The resource peak is often the point at which the resource is cheapest . The following decline causes prices to rise as the seller can demand higher prices due to falling supplies . This often reflects more challenging extraction and processing as the easiest and most accessible resources are used first
• It is difficult to estimate resource peak as new technologies and / or discoveries can lead to further supplies being accessed . For example, due to climate change and increased summer melting it may be easier to access oil reserves in the Arctic meaning that resource peak for oil will be reached much further into the future

also increasing demand (rise in middle class), will also mean more is produced to provide energy security

Question 7

interesting points about Hubbert’s Curve

Answer 7

The theory was suggested by a geologist called M. King Hubbert who argued that most finite resources would follow a bell-shaped curve called Hubbert’s Curve.

although extration rate will VARY over time, they follow this trend in the LONG TERM

The top of a bell-shaped curve marks the point of maximum production – resource peak.
Usually followed by a decline in production of that resource

Question 8

define Energy MIx

Answer 8

The composition of a country’s energy sources.