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_8, Exhaustible resources, 5-29-09

_8, Exhaustible resources, 5-29-09 - better mines but...

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Quiz #8, May 29, 2009, on Exhaustible Resources 1. What is “high-grading” a mineral deposit? a. Taking out the low-cost minerals and leaving behind the high-cost minerals b. Giving it a high grade for quality c. Taking out the high-cost minerals first d. A and e e. Taking out just the highest quality ores and leaving the low quality ores 2. Some people favor using low discount rates in mining, to slow down extraction and expiate their guilt for taking from future generations. What does the assigned reading say about this? a. It is self-defeating. It succeeds all right in slowing down use of the
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Unformatted text preview: better mines, but accelerates exploration and development of new ones in marginal and environmentally sensitive regions b. It is obviously the way to go, to cut down the idea of discounting the future. Our grandchildrens’ needs will be as great as ours, and should be respected c. It recognizes that there are limits to growth that we must learn to live with d. It makes people take a longer view and consider human welfare over time, not just this year e. It inhibits public officials from granting too much mineral territory to one firm...
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