9. A country has discovered a significant reserve of crude oil beneath its ocean floor. However, the initial analysis shows that extracting this crude oil requires technology that currently exists but at extremely high costs. Furthermore, there is cultural opposition from indigenous communities regarding drilling in these areas. Under these circumstances, how should the crude oil be classified?
Key Concept: Technological Accessibility, Economic Feasibility, Examples of Natural Resources
d) Resource only if costs decrease significantly
[Solution Description] The classification of natural resources depends on their accessibility, economic feasibility, and cultural acceptance. In this scenario, although the crude oil is technologically accessible, the extraction cost is very high, making it economically unfeasible. Also, due to cultural opposition, it is not culturally acceptable. Therefore, despite being identified, it cannot be considered a current resource because it doesn't meet all three criteria.
Your Answer is correct.
d) Resource only if costs decrease significantly
[Solution Description] The classification of natural resources depends on their accessibility, economic feasibility, and cultural acceptance. In this scenario, although the crude oil is technologically accessible, the extraction cost is very high, making it economically unfeasible. Also, due to cultural opposition, it is not culturally acceptable. Therefore, despite being identified, it cannot be considered a current resource because it doesn't meet all three criteria.