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Natural resource economics deals with the supply, demand, and allocation of the Earth's natural resources. One main objective of natural resource economics is to better understand the role of natural resources in the economy in order to develop more sustainable methods of managing those resources to ensure their availability for future generations.
Natural resource management is a discipline in the management of natural resources such as land, water, soil, plants, and animals—with a particular focus on how management affects quality of life for present and future generations. Hence, sustainable development is followed according to the judicious use of resources to supply present and ...
Natural resource management (NRM) is the management of natural resources such as land, water, soil, plants and animals, with a particular focus on how management affects the quality of life for both present and future generations (stewardship). Natural resource management deals with managing the way in which people and natural landscapes interact
The remaining resource estimates (after the reserves have been accounted) are likely sub-commercial and may still be under appraisal with the potential to be technically recoverable once commercially established. Natural gas is frequently associated with oil directly and gas reserves are commonly quoted in barrels of oil equivalent (BOE).
India imports small amounts of natural gas. In 2004, India consumed about 1,089 × 10 ^ 9 cu ft (3.08 × 10 10 m 3) of natural gas, the first year in which the country showed net natural gas imports. During 2004, India imported 93 × 10 ^ 9 cu ft (2.6 × 10 9 m 3) of liquefied natural gas (LNG) from Qatar. [16]
Natural resources are resources that exist without actions of humankind; this includes characteristics such as magnetic, gravitational, and electrical properties and forces. Resources may be classified as renewable or nonrenewable
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Economic gains from natural resources are mostly beneficial when directed towards initiatives such as job creation, skill enhancement, capacity building, and pursuit of long-term developmental objectives. Thus, reliance on one or more natural resources holds financial risk when aiming for a stable economic growth. [28]