Depletion of Natural Resources

Depletion

The conservation of natural resources is the fundamental problem. Unless we solve that problem, it will avail us little to solve all others.

Theodore Roosevelt[3]

In recent years, the depletion of natural resources has become a major focus of governments and organizations such as the United Nations (UN). This is evident in the UN's Agenda 21 Section Two which outlines the necessary steps to be taken by countries to sustain their natural resources.[4] The depletion of natural resources is considered to be a sustainable development issue.[5] The term sustainable development has many interpretations, most notably the Brundtland Commission's 'to ensure that it meets the needs of the present without compromising the ability of future generations to meet their own needs',[6] however in broad terms it is balancing the needs of the planet's people and species now and in the future.[4] In regards to natural resources, depletion is of concern for sustainable development as it has the ability to degrade current environments[7] and potential to impact the needs of future generations.[5]

Depletion of Natural Resources is associated with social inequity. Considering most biodiversity are located in developing countries,[8] depletion of this resource could result in losses of ecosystem services for these countries.[9] Some view this depletion as a major source of social unrest and conflicts in developing nations.[10]

At present, with it being the year of the forest,[11] there is particular concern for rainforest regions which hold most of the Earth's biodiversity.[11] According to Nelson[12] deforestation and degradation affect 8.5% of the world's forests with 30% of the Earth's surface already cropped. If we consider that 80% of people rely on medicines obtained from plants and ¾ of the world's prescription medicines have ingredients taken from plants,[9] loss of the world's rainforests could result in a loss of finding more potential life saving medicines.[13]

The depletion of natural resources is caused by 'direct drivers of change'[12] such as Mining, petroleum extraction, fishing and forestry as well as 'indirect drivers of change' such as demography, economy, society, politics and technology.[12] The current practice of Agriculture is another factor causing depletion of natural resources. For example the depletion of nutrients in the soil due to excessive use of nitrogen[12] and desertification[4] The depletion of natural resources is a continuing concern for society. This is seen in the cited quote given by Theodore Roosevelt, a well-known conservationist and former United States president, was opposed to unregulated natural resource extraction.

Economy - overview

Trinidad and Tobago has earned a reputation as an excellent investment site for international businesses and has one of the highest growth rates and per capita incomes in Latin America. Economic growth between 2000 and 2007 averaged slightly over 8%, significantly above the regional average of about 3.7% for that same period; however, GDP has slowed down since then and contracted about 3.5% in 2009, before rising more than 2% in 2010. Growth has been fueled by investments in liquefied natural gas (LNG), petrochemicals, and steel. Additional petrochemical, aluminum, and plastics projects are in various stages of planning. Trinidad and Tobago is the leading Caribbean producer of oil and gas, and its economy is heavily dependent upon these resources but it also supplies manufactured goods, notably food products and beverages, as well as cement to the Caribbean region. Oil and gas account for about 40% of GDP and 80% of exports, but only 5% of employment. The country is also a regional financial center, and tourism is a growing sector, although it is not as important domestically as it is to many other Caribbean islands. The economy benefits from a growing trade surplus. The previous MANNING administration benefited from fiscal surpluses fueled by the dynamic export sector; however, declines in oil and gas prices have reduced government revenues which will challenge the new government's commitment to maintaining high levels of public investment.

GDP - composition by sector

agriculture: 0.4%

industry: 58.8%

services: 40.8% (2010 est.)

agriculture: 3.8%

manufacturing, mining, and quarrying: 12.8%

construction and utilities: 20.4%

services: 62.9% (2007 est.)

Unemployment rate

6.4% (2010 est.)

5.8% (2009 est.)d

Unemployment, youth ages 15-24

total: 10.5%

male: 8.8%

female: 12.9% (2008)

Industries

petroleum and petroleum products, liquefied natural gas (LNG), methanol, ammonia, urea, steel products, beverages, food processing, cement, cotton textiles

Electricity - production by source

fossil fuel: 99.8%

hydro: 0%

nuclear: 0%

other: 0.2% (2001)

Oil - production

144,900 bbl/day (2010 est.)

Oil - consumption

41,000 bbl/day (2010 est.)

Oil - exports

242,600 bbl/day (2009 est.)

Oil - imports

95,240 bbl/day (2009 est.)

Oil - proved reserves

728.3 million bbl (1 January 2011 est.)

Natural gas - production

42.38 billion cu m (2010 est.)

Natural gas - consumption

21.97 billion cu m (2010 est.)

Natural gas - exports

20.41 billion cu m (2010 est.)

Natural gas - imports

0 cu m (2010 est.)

Natural