Non-renewable Resource Issues: Geoscientific and Societal Challenges: An Introduction

Abstract

This chapter discusses non-renewable resource issues: the raw materials boom of the first decade of the third millennium, availability of a resource (geoscientific characteristics), society’s dependence on the resource (economic, social and environmental challenges), the gradual dematerialization of advanced economies and the possibility of finding alternatives (whether the resource can be substituted or recycled). Assessing important resources against these issues determine their “criticality” and the risk for supply interruptions of e.g. rare-earths and other raw materials needed for industrial products. ‘Peaks’ in the production of natural resources can be driven by demand or supply. However, fundamental and important differences between a peak in the production of oil and peaks in the production of minerals have been exemplified. Concerning the future availability of natural resources the fixed stock paradigm is contrasted with the opportunity cost paradigm that takes into account the inherent dynamics of market forces and changing technology. Regardless of paradigm increasing resource efficiency through human ingenuity and creativity both in the upstream and downstream sector is shown to be vital if mankind is to successfully advance on the road to a sustainable economy based upon transparency and “good governance” that has to be mirrored on the companies’ side by corporate social responsibility. The societal aspect is however, only one side of the natural resources coin, the other side being the geological and technical availability.