Resource depletion
Resource depletion occurs when a natural resource is consumed faster than it can be replenished. The value of a resource depends on its availability in nature and the cost of extracting it. By the law of supply and demand, the scarcer the resource the more valuable it becomes. There are several types of resource depletion, including but not limited to: wetland and ecosystem degradation, soil erosion, aquifer depletion, and overfishing. The depletion of wildlife populations is called defaunation.
It is a matter of research and debate how humanity will be impacted and what the future will look like if resource consumption continues at the current rate, and when specific resources will be completely exhausted.
History of resource depletion
The depletion of resources has been an issue since the beginning of the 19th century amidst the First Industrial Revolution. The extraction of both renewable and non-renewable resources increased drastically, much further than thought possible pre-industrialization, due to the technological advancements and economic development that lead to an increased demand for natural resources.Although resource depletion has roots in both colonialism and the Industrial Revolution, it has only been of major concern since the 1970s. Before this, many people believed in the "myth of inexhaustibility", which also has roots in colonialism. This can be explained as the belief that both renewable and non-renewable natural resources cannot be exhausted because there is seemingly an overabundance of these resources. This belief has caused people to not question resource depletion and ecosystem collapse when it occurred, and continues to prompt society to simply find these resources in areas which have not yet been depleted.
Depletion accounting
In an effort to offset the depletion of resources, theorists have come up with the concept of depletion accounting. Related to green accounting, depletion accounting aims to account for nature's value on an equal footing with the market economy. Resource depletion accounting uses data provided by countries to estimate the adjustments needed due to their use and depletion of the natural capital available to them. Natural capital refers to natural resources such as mineral deposits or timber stocks. Depletion accounting factors in several different influences such as the number of years until resource exhaustion, the cost of resource extraction, and the demand for the resource. Resource extraction industries make up a large part of the economic activity in developing countries. This, in turn, leads to higher levels of resource depletion and environmental degradation in developing countries. Theorists argue that the implementation of resource depletion accounting is necessary in developing countries. Depletion accounting also seeks to measure the social value of natural resources and ecosystems. Measurement of social value is sought through ecosystem services, which are defined as the benefits of nature to households, communities and economies.Importance
There are many different groups interested in depletion accounting. Environmentalists are interested in depletion accounting as a way to track the use of natural resources over time, hold governments accountable, or compare their environmental conditions to those of another country. Economists want to measure resource depletion to understand how financially reliant countries or corporations are on non-renewable resources, whether this use can be sustained and the financial drawbacks of switching to renewable resources in light of the depleting resources.Issues
Depletion accounting is complex to implement as nature is not as quantifiable as cars, houses, or bread. For depletion accounting to work, appropriate units of natural resources must be established so that natural resources can be viable in the market economy. The main issues that arise when trying to do so are, determining a suitable unit of account, deciding how to deal with the "collective" nature of a complete ecosystem, delineating the borderline of the ecosystem, and defining the extent of possible duplication when the resource interacts in more than one ecosystem. Some economists want to include measurement of the benefits arising from public goods provided by nature, but currently there are no market indicators of value. Globally, environmental economics has not been able to provide a consensus of measurement units of nature's services.Minerals depletion
are needed to provide food, clothing, and housing. A United States Geological Survey study found a significant long-term trend over the 20th century for non-renewable resources such as minerals to supply a greater proportion of the raw material inputs to the non-fuel, non-food sector of the economy; an example is the greater consumption of crushed stone, sand, and gravel used in construction.Large-scale exploitation of minerals began in the Industrial Revolution around 1760 in England and has grown rapidly ever since. Technological improvements have allowed humans to dig deeper and access lower grades and different types of ore over that time. Virtually all basic industrial metals, as well as rare earth minerals, face production output limitations from time to time, because supply involves large up-front investments and is therefore slow to respond to rapid increases in demand.
Minerals projected by some to enter production decline during the next 20 years:
- Oil, conventional
- Oil, all liquids. Old expectation: Gasoline
- Copper. Old expectation: Copper. Data from the United States Geological Survey suggest that it is very unlikely that copper production will peak before 2040.
- Coal per KWh. Old expectation per ton:
- Zinc. Developments in hydrometallurgy have transformed non-sulfide zinc deposits into large low cost reserves.
- Aluminium
- Iron
- Phosphor. The last 80% of world reserves are only one mine.
Petroleum
Deforestation
Controlling deforestation
Overfishing
Overfishing refers to the overconsumption and/or depletion of fish populations which occurs when fish are caught at a rate that exceeds their ability to breed and replenish their population naturally. Regions particularly susceptible to overfishing include the Arctic, coastal east Africa, the Coral Triangle, Central and Latin America, and the Caribbean. The depletion of fish stocks can lead to long-term negative consequences for marine ecosystems, economies, and food security. The depletion of resources hinders economic growth because growing economies leads to increased demand for natural, renewable resources like fish. Thus, when resources are depleted, it initiates a cycle of reduced resource availability, increased demand and higher prices due to scarcity, and lower economic growth. Overfishing can lead to habitat and biodiversity loss, through specifically habitat degradation, which has an immense impact on marine/aquatic ecosystems. Habitat loss refers to when a natural habitat cannot sustain/support the species that live in it, and biodiversity loss refers to when there is a decrease in the population of a species in a specific area and/or the extinction of a species. Habitat degradation is caused by the depletion of resources, in which human activities are the primary driving force. One major impact that the depletion of fish stocks causes is a dynamic change and erosion to marine food webs, which can ultimately lead to ecosystem collapse because of the imbalance created for other marine species. Overfishing also causes instability in marine ecosystems because these ecosystems are less biodiverse and more fragile. This occurs mainly because, due to overfishing, many fish species are unable to naturally sustain their populations in these damaged ecosystems. Common causes of overfishing include:- Increasing consumption: According to the United Nations Food and Agriculture Organization, aquatic foods like fish significantly contribute to food security and initiatives to end worldwide hunger. However, global consumption of aquatic foods has increased at twice the rate of population growth since the 1960s, significantly contributing to the depletion of fish stocks.
- Climate change: Due to climate change and the sudden increasing temperatures of our oceans, fish stocks and other marine life are being negatively impacted. These changes force fish stocks to change their migratory routes, and without a reduction in fishing, this leads to overfishing and depletion because the same amount of fish are being caught in areas that now have lower fish populations.
- Illegal, unreported, and unregulated fishing: Illegal fishing involves conducting fishing operations that break the laws and regulations at the regional and international levels around fishing, including fishing without a license or permit, fishing in protected areas, and/or catching protected species of fish. Unreported fishing involves conducting fishing operation which are not reported, or are misreported to authorities according to the International and Regional Fisheries Management Organizations. Unregulated fishing involves conducting fishing operations in areas which do not have conservation measures put in place, and cannot be effectively monitored because of the lack of regulations.
- Fisheries subsidies: A subsidy is financial assistance paid by the government to support a particular activity, industry, or group. Subsidies are often provided to reduce start up costs, stimulate production, or encourage consumption. In the case of fisheries subsidies, it enables fishing fleets to catch more fish by fishing further out in a body of water, and fish for longer periods of time.