Real Costs of Natural Resource Exploitation

Natural resources are usually termed either renewable or non-renewable. Renewable resources include 'biological' resources, such as fish and forests and also energy flow resources such as hydro, solar, tidal, wave and wind power. Existing economic theories concentrate on the biological renewable resources to the extent that there is no separate exolanation of the economics of the energy flow renewables. Analysing the physical and economic characteristics of natural resources enables the real costs of natural resource use to be identified, providing the basis of a single unifying theory of all resources based on their 'user costs'.