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What is Non-Renewable Resource

Chapter 21
Handbook of Research on International Collaboration, Economic Development, and Sustainability in the Arctic
A resource with limited overall supply, due to very slow reproduction rate (millions of years). Examples include oil, natural gas, and coal.
Published in Chapter:
Sustainable Development of Oil Production in the Arctic Shelf and Evolution of Fish Stock
Yuri Yegorov (University of Vienna, Austria)
Copyright: © 2019 |Pages: 19
DOI: 10.4018/978-1-5225-6954-1.ch021
Abstract
Arctic region is an important resource for hydrocarbons (oil and gas). Their exploitation is not immediate but will develop fast as soon as oil prices approach $100 per barrel again. In the Arctic, fish stock is an important renewable resource. Contrary to hydrocarbons, it is already overexploited. Future simultaneous exploitation of both resources poses several problems, including externalities and common pool. The academic community still has some time for theoretical investigation of those future problems and working out the corresponding policy measures that are consistent with sustainable development of the region. The Barents Sea is especially important because it has a common pool both in hydrocarbons and fish.
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