Natural Resources Make a Comeback

... economic development, due to the emergence of service industries and the virtual economy. Furthermore, the idea that natural riches could even hinder economic development gained ground. It is now becoming increasingly clear that the conclusions drawn about natural resources’ secondary role were somewhat hasty. There is every reason to believe that in the 21st century their role in the world economy and international political processes will only increase. This is due to structural changes in the energy markets, growing scarcity of certain types of renewable resources, and worsening environmental problems. Breakthroughs in the production of new types of hydrocarbons (from tar sands to shale gas) and the rapid development of renewable energy technologies ...