4.18 - Conservation And The Conservation Of The Environment - Conservation

The conservation of mineral resources as a public policy question has received a great deal of attention in the area of petroleum and practically no attention in other mineral areas, except, of course, soil and water. Some insights into mineral conservation problems and how these problems can be approached in the social decision-making process are significant. THE MEANINGS OF CONSERVATION Conservation means many things to many people .2, 11 Too often it is a label attached to a proposed program or policy to add respectability and to gain public acceptance. It is a term applied to specific resources in some contexts and to resources generally in other contexts. The oft-quoted comment of President William Howard Taft that conservation is something everybody is for, no matter what it means, succinctly illustrates the confusion over both the meaning of the concept and the policies required to implement a conservation program. This confusion goes quite deep and is more than a matter of semantics or emphasis. For example, the efficient exploitation of a mineral deposit which might be applauded as good conservation in terms of that mineral, might well result in destruction of or harm to the environment which might be viewed as bad conservation. Economics provides some tools to help solve this sort of problem, but there may be fundamental differences in value systems among groups in this society, so that ultimately society must collectively make a subjective political choice as to what is good or bad conservation policy.a An Economic Definition of Conservation The economic concepts of conservation have more relevance and are more easily applied to minerals than to many other natural resources. This does not mean that economics goes all the way in understanding mineral conservation, but at least it provides a framework for analysis which later can be altered to include noneconomic variables. Perhaps the greatest confusion in discussing mineral conservation arises in attempting to relate purely physical concepts with economic concepts. An economist is interested in maximizing or conserving values; he is not interested in maximum physical recovery or utilization. He wants to know the costs and benefits of using, or not using, resources. The economic theory of mineral-resource conservation can be labeled variously as the theory of exhaustion, the theory of resource exploitation, the theory of resource utilization, or simply as a special case of the broad theory of capital.4,28 Consideration of these labels illuminates the concerns of the econo-