John Chuckman
COMMENT TO AN ARTICLE IN INVESTMENTWATCH
“In Under 20 Years, All Currently Recoverable Gold Will Have Been Mined”
This is just silly. The fact is that over time...
Technology keeps changing the nature of what is a resource. Oil wasn't a resource in 1800, for example.
Technology changes the needs and demands for resources by coming up with substitutes and even eliminating some uses entirely.
It changes the ways of finding more of a resource, as the recent undersea discovery of large rare earth deposits.
It changes the way of extracting a resource, so that what was thought impossible or too costly becomes ordinary, as with today's very deep-sea oil drilling.
