Resources Matter

Overview & Synopsis

The extraction and use of natural resources underpins a global economy that provides high living standards for many as well as the prospect of ending poverty in the developing world. Mining, as well as the oil and gas industries, are vitally important sectors in many developing countries. They provide substantial public revenues as well as much-needed foreign exchange, and livelihoods for many. Yet, the extractives industries are highly controversial. The continued extraction and burning of fossil fuels in energy generation and transport, together with the emissions associated with mining and metals refining, are taking the planet to dangerous levels of emissions. In addition, the extractive industries have a record of damaging nature both through pollution as well as the destruction of biodiversity. This book explores a central issue of our time: our materials world is simultaneously both part of the problem (especially fossil fuels) as well as part of its solution (the materials necessary for the technologies required for ‘net zero’). The book discusses how the extractive industries can be leveraged to generate more beneficial impacts in poorer economies and improve livelihoods at local and national levels. A central argument is that the so-called ‘resource curse’ is not inevitable. Much can be done through policy, coordinated government action in partnership with the private sector, and judicious investments to improve the prospects for resource wealth to make a positive contribution to escaping underdevelopment and poverty. Extractives industries have a key role in working with governments to achieve these goals.