by Soft_Landing » Fri 09 Jul 2004, 22:38:09
$this->bbcode_second_pass_quote('', 'I') fundamentally don't understand why resources other than energy are being "used up".
Just as energy resources, which with use, transit from a low entropy state to a higher entropy state, this also occurs with metals. It is just that the entropy change is not chemical, but physical. The low entropy state is the large quantity of ore in one location. The higher entropy, less organised state is the wide dispersion of the product throughout the world.
When you have a massive ore deposit, even if the the ore is only 2%, for example, it may still be worth investing in huge amounts of capital on site to extract it, simply by virtue of the enormous amount of total product, against which cost of capital and production can be amortised.
Of course, there are fundamental differences between a metal and an energy resource. Metals are not required to do work, merely allow us to perform work more efficiently.
[all these comments are additive to smileys observation that an increased percentage of total endowment is being captured in existing projects]