Affluence and Limits: Resources

This lecture delves into the concept of limits to growth as proposed by the Club of Rome in 1970, exploring the global mathematical model World3 and the interplay between positive and negative feedback loops. It discusses Hotelling's rule, technical progress, and the potential for growth with depletable resources. The distribution of proved reserves in different regions is analyzed, along with the classification of resources and reserves. The lecture also covers the production and consumption of crude oil worldwide, the possibility of an oil peak, and the impact of gasoline prices in Switzerland. Historical trends in crude oil prices are examined, along with the influence of world events on oil production. The lecture concludes by highlighting how reserves can decrease due to increasing environmental requirements.