Limits to Growth: Depletable Resources

This lecture explores the concept of continued growth with finite resources, as discussed by the Club of Rome in 1972. It delves into the extraction trends of essential minerals, the role of backstop technology in resource management, and the impact of rising prices on resource depletion. The instructor also examines the distribution of oil reserves, the relationship between resource exploration and GDP growth, and the historical trends in crude oil production and prices. The lecture concludes by addressing the challenges and uncertainties surrounding the future of economic growth in the context of depletable resources.