“How much of any given natural resource is known to exist depends on how much it costs to know. Oil exploration, for example, is very costly. In 2011, the New York Times reported: Two miles below the ocean floor, on a ridge the size of metropolitan Houston, modern-day wildcatters have pinpointed what they believe is a major oil field. Now all they have to do is spend $ 100 million to find out if they’re right.{”
— Basic Economics by #ThomasSowell