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The AAPG/Datapages Combined Publications Database
AAPG Bulletin
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In a private-enterprise economy it is necessary that the search for, and development of, the non-renewable natural resources lead to a profit. The United States has produced such resources in the amount of $458.101 billion in the period 1911-1964, or has returned $151,569 per square mile. The value per square mile by states (1911-1964) ranges from $1 × 106 for Pennsylvania to $1.09 × 104 for Maine. The returns for Oregon ($9,508)-Maine ($10,906) and Minnesota ($136,264)-Indiana ($166,251) are similar despite very different geological environments between the similar pairs.
The objective of decision-making in selecting alternate exploration strategies is to select an optimal one; the potential value of a region is one attractive criterion. For example, a return for Alaska of $3,483 per square mile is so far below the average expected value for the United States, and the geological environment of Alaska is sufficiently varied that a very large return from a systematic search procedure is almost guaranteed.
On this basis an examination of the value per unit area (or volume) of the earth's surface would pinpoint those areas which are over- and under-developed; coupled with broad geological comparisons among over- and under-developed areas this would indicate the areas of greatest future potential.
Systematic search procedure of a large region would supply an inventory of its natural resources and this may then be used for an orderly development of these resources; from the figures on past production per unit area of the United States, this search program also will almost certainly be a commercial success. Such a program would supply a wealth of geological information and rejuvenate local exploration for specific resources.
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