There are different types of resources available and their values have been changed over time due to the changes and developments in technology, culture, and economy. This is called dynamic values of resources. I’d like to introduce this concept with several examples.

1. Uranium
   

Uranium originally had no value as it was just one of ores. However, it started to be considered as valuable in the mid-twentieth century due to development of nuclear technology: nuclear weapons and energy. Currently, uranium is one of very important and valuable resources, but its value and price still fluctuates based on nuclear disasters like nuclear power plant explosions. However, its value might rise in the future as energy with low carbon emission will be preferred.

2. Oil
   

Oil has been very valuable but its value fluctuates depending on following situations: the value decreases if there is a high supply of oil, issues with climate change, and disasters like oil spill, and the value rises if there is a high oil demand by consumers and wars.

3. Lithium
   

Lithium had no value before the use of electronic devices and was considered as one of ores like uranium. However, as lithium is a major component of batteries of electronic devices, it is currently very valuable since we can’t even imagine our lives without electronic devices. Also, it is expected that lithium’s value will remain high unless an alternative source for batteries is found.

4. Cork
   

In the past, corks used to be harvested from cork trees to produce wine stoppers, but wines now use metal lids so cork is not valuable anymore as a wine stopper. However, cork forest is a great habitat for keeping biodiversity, which should be protected.

The four examples show how values of different resources have changed over time and fluctuate depending on some major and minor issues. I hope this report can help you understand the concept of dynamic value of resources.