Very insightful post. I also want to reiterate your point that when governments grant bundled explore + extract licenses, they accelerate supply on paper, but at an economic cost. This approach removes the option value of waiting and locks in extraction rights before the true social and environmental costs are properly documented.
The result I believe is a shift in risk: mining firms face less uncertainty and so can invest more in this space, while the public and nature bear risk if impacts turn out to be larger than expected.
In mining reshoring debates, this trade-off is often understated but central.
Very insightful post. I also want to reiterate your point that when governments grant bundled explore + extract licenses, they accelerate supply on paper, but at an economic cost. This approach removes the option value of waiting and locks in extraction rights before the true social and environmental costs are properly documented.
The result I believe is a shift in risk: mining firms face less uncertainty and so can invest more in this space, while the public and nature bear risk if impacts turn out to be larger than expected.
In mining reshoring debates, this trade-off is often understated but central.
I think you're absolutely right about the shift in risk. It's a very good point.
Ugh! What happened to NOAA?!