May 16, 2013

Do you notice a trend?

In stories like these? About minerals and petroleum being discovered? We were supposed to run out of [fill in the blank] right about now, according to [fill in the Malthusian lefty "environmentalist"]. Yet it isn't happening If you read Random Jottings, you get to know what's really going on...

New Wyoming Lithium Deposit - Business Insider:

...University of Wyoming researchers found the lithium while studying the idea of storing carbon dioxide underground in the Rock Springs Uplift, a geologic formation in southwest Wyoming. University of Wyoming Carbon Management Institute director Ron Surdam stated that the lithium was found in underground brine. Surdam estimated the located deposit at roughly 228,000 tons in a 25-square-mile area. Extrapolating the data, Surdam said as the uplift covered roughly 2,000 square miles, there could be up to 18 million tons of lithium there, worth up to roughly $500 billion at current market prices....

The U.S. Has Much, Much More Gas and Oil Than We Thought -

...The United States has double the amount of oil and three times the amount of natural gas than previously thought, stored deep under the states of North Dakota, South Dakota, and Montana, according to new data the Obama administration released Tuesday.

In announcing the new data in a conference call, Interior Secretary Sally Jewell also said the administration will release within weeks draft rules to regulate hydraulic fracturing, technology that has come under scrutiny for its environmental impact but that is essential to developing all of this energy.

"These world-class formations contain even more energy-resource potential than previously understood, which is important information as we continue to reduce our nation's dependence on foreign sources of oil," Jewell said in a statement....

Here's a clue. When did the developed world stop suffering from famines? The answer to that is, as soon as it entered the Industrial Age. Agriculture had been the chief limiting factor for humans throughout all of history. Once the change in thinking that was the inward reality that was expressed outwardly in what we call industrialization happened, the problem of agriculture was essentially solved, although it took a few more decades to "work out the kinks," so to speak.

In the Industrial Age, mineral resources were one of the biggest limiting factors. I would suggest that once we entered the Information Age, the problem of petroleum and minerals of all sorts was solved in essence. I've spent my life hearing about coming "famines" of oil and metals like Chromium, which is needed for making armor plate. But they never happened.

(Go here for more thoughts on the Info Age.)

Posted by John Weidner at May 16, 2013 8:52 AM
Weblog by John Weidner