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The AAPG/Datapages Combined Publications Database

AAPG Bulletin

Abstract


Volume: 51 (1967)

Issue: 3. (March)

First Page: 467

Last Page: 467

Title: Unit Regional Value as Basis for Decision-Making in Selecting an Exploration Strategy: ABSTRACT

Author(s): John C. Griffiths

Article Type: Meeting abstract

Abstract:

In a private-enterprise economy it is necessary that the Previous HitsearchNext Hit 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 Previous HitsearchNext Hit 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 Previous HitsearchNext Hit 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 Previous HitsearchNext Hit 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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Copyright 1997 American Association of Petroleum Geologists