Abstract

Since the emergence of humanity, the earth’s resources have played an important role in the development of our society. Over time, rudimentary tools and weapons gave way to more sophisticated uses of the earth’s resources, culminating in all of the necessities as well as the luxuries that are used today. All advances of humankind are tied to the development and utilization of the earth’s resources, including energy, minerals, timber, fish, animals, and soils.

The industrial and agricultural revolutions that began in the eighteenth century and the scientific revolution of the preceding century provided the impetus for the rapid expansion and development of energy and mineral resources and the advanced technology that continues to this day. The aspirations of the rapidly growing populations of developing nations, as well as the demand for necessities and luxuries consumed by the industrialized nations, require the continued availability of resources that are the basis of products and new wealth. Such resources must be produced in a manner consistent with protection of health, safety, and the environment. History tells us that this can only be accomplished by an enlightened, conscientious, and affluent society.

In a free society, energy and mineral resources development is largely accomplished by private corporations, companies, and individuals. It is entrepreneurial by nature, capital intensive, and, in the United States and other industrialized nations, highly regulated. Developers may be severely affected at any stage of their preparations or operations by economic, environmental, social, and political factors. It is important to recognize that energy and mineral resources are only developed and produced to supply the demand for products by our total society. All of these factors must be given proper consideration in any decision to risk investment capital in a resource development venture.