Peak whale, peak oil: on oil and the role of private property in natural-resource conservation

 

Erik Lakomaa, Timbro, March 2012

 

There are no historical examples of a raw material running out. Even if the available amount of certain raw materials is very limited and the demand for many of them, such as gold, has been high over the millennia, they have not run out. The price mechanism has ensured that supply met demand.
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