In contrast to the doomsday scenarios that predict we will soon run out of various natural resources, George Reisman has pointed out that the entire planet is a big ball of chemicals that, with the right technology, can be used to meet human wants. “…for all practical purposes, [natural resources] are infinite.”
This ain’t just theory folks. An article from Spiegel documents the work of geologist Peter Herzig who believes it may now be economically feasible to mine “black smokers”: chimneys on the ocean floor that shoot out copper, manganese, nickel and gold.
“The black material contains almost everything our industrial society craves,” says the scientist. Copper for the electronics industry, nickel and zinc used in steel mills, indium for flat-screen displays — even gold for national skyrocketing reserves.