Simple as that, the world ran out of bird poop but soon found alternative sources for fertilizer. As famed cornucopian Julian Simon wrote in The Ultimate Resource (1981):
No matter how closely it is defined, the physical quantity of a resource in the earth is not fully known at any time, because resources are sought and found only as they are needed. Even if the quantities of a particular resource were exactly known, such measurements would not be meaningful, because humans have a near-limitless capacity for developing additional ways to meet our needs: developing fiber optics, for instance, instead of copper wire."
To my knowledge, guano is the single mineral resource of which the Earth has ever run out.
Ciao for now,Mickey FulpMercenary Geologist
Acknowledgements: I thank Niall McGee who planted the seed that became the food for thought that produced this Musing. Erin Ostrom is the editor of MercenaryGeologist.com.
The Mercenary Geologist Michael S. “Mickey” Fulp is a Certified Professional Geologist with a B.Sc. Earth Sciences with honor from the University of Tulsa, and M.Sc. Geology from the University of New Mexico. Mickey has over 30 years experience as an exploration geologist searching for economic deposits of base and precious metals, industrial minerals, uranium, coal, oil and gas, and water in North and South America, Europe, and Asia.
Mickey has worked for junior explorers, major mining companies, private companies, and investors as a consulting economic geologist for the past 24 years, specializing in geological mapping, property evaluation, and business development. In addition to Mickey’s professional credentials and experience, he is high-altitude proficient, and is bilingual in English and Spanish. From 2003 to 2006, he made four outcrop ore discoveries in Peru, Nevada, Chile, and British Columbia.
Mickey is well-known and highly respected throughout the mining and exploration community due to his ongoing work as an analyst, writer, and speaker.
He will present a "Q&A on Junior Resource Stocks" and talk about "Graphite: The New Big Thingl" on Tuesday, May 15, during the New York Hard Assets Investment Conference.
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