Resource Security Flashcards
Define resource security
The ability of a country to safeguard reliable and sustainable access of resources to maintain the living standards of the population
What is a resource
A resource is that which carries value and is made use of by people
It can be both a tangible item (coal) and an abstract quality (engineering skill)
Give the criteria for something to become a resource
- Recognised of being of value
- Exploitable/obtainable
- Within the physical, economic and ethical reach of people
Give the two types of resource
Stock
Flow
What is a stock resource
Can be permanently expended and are therefore non-renewable, and whose quantity is usually expressed in absolute amounts rather than in rates. (Coal, oil etc.)
What is a flow resource
A natural resource that is simultaneously used and replaced, which includes all perpetual resources and renewable resources. (Solar, wind, tidal etc)
Why is it considered necessary to classify a resource
So you know the full risks and implications of it before extracting or utilising it - enables decision making
In the UN Framework Classification (UNFC) explain the difference between a ‘111’ and a ‘333’
111 = Most feasible, most viable and most knowledge about wether that resource exists in the designated area or not.
333 = opposite
What is the difference between a reserve and a resource
Reserve = those parts of the ‘resources’ that can be economically, technically and legally extracted
Resource = an estimate of the quantity of all deposits of a valued mineral or energy source (including those that are undiscovered and unviable)
Other than reserves, in a McKlevely box, what other factors are included
Conditional resources
Hypothetical resources
Give the life cycle of a stock resource (6)
Demand
Exploration
Exploitation
Development
Depletion
Exhaustion
What is demand
A recognised use and viable need for resource arriving
What is exploration
Searching for and locating economic quantities
What is exploitation
Extracting and transporting the source
What is development
Integrating support infrastructure and maximising production efficiency
What is depletion
Declining returns as extraction costs increase with declining yields
What is exhaustion
Further extraction is no longer viable or stocks are fully depleted
What is a resource frontier
A peripheral environment (on the edge) that attracts the latest exploration and subsequent development of resources
Or an area where resources are brought into production for the first time
Why might oil extraction in the Arctic increase or decrease over time
Increase - more accessible in 30 years time, ironically because of global warming
Decrease - people will be more conscious of the effects and dangers posed by global warming
Give the pros for Shell’s decision to pull out of the Arctic
- Environmentalists were ecstatic with the announcement
- They contend the risks of a major oil spill in the Arctic as being too great to allow Arctic offshore drilling
- It would add to climate warming and further delays in a transition away from fossil fuels
Give the cons of SHell’s decision to pull out of the Arctic
- Disappointing to shareholders and potentially devastating to Alaska
- The company must find another source to fill the 800-mile trans-Alaska pipeline and solve its economic woes
- Declining oil production and low prices have left Alaska with a billion-dollar budget gap
- Loss of jobs would be one of the biggest immediate effects in the state
What is a resource peak
The phase of maximum production from a resource deposit before depletion exceeds new discoveries
Give the largest producer of fossil fuel liquids in the world
US
223 billion barrels of recoverable shale oil and gas deposits
Human………and advancements in……………will be able to exploit oil that was previously…………….
(Fracking)
Innovation
Technology
Unaccessible
