MNE 201 Exam Questions and Answers Rated 100%

MNE 201 Exam Questions and Answers Rated 100% Technological substitution - Answers Substitution of technology for different mining techniques Autarky - Answers a situation in which a country does not trade with other countries Nationalization - Answers Changing something from private to state ownership or control Seven Sisters - Answers The seven major western oil companies of the twentieth century that until the 1970s controlled most of the production and distribution of Middle East oil. OPEC - Answers An organization of countries formed in 1961 to agree on a common policy for the production and sale of petroleum. Cartel - Answers a group of independent market participants who collude with each other in order to improve their profits and dominate the market Oil Crisis - Answers Economic crisis of 1973 that occurred when OPEC nations refused to export oil to Western nations Semiconductor - Answers an element or compound that conducts electric current better than an insulator does but not as well as a conductor does Artisanal mining - Answers small-scale mining, usually done by hand Resource curse - Answers the difficulties faced by resource-rich developing countries, including dependence on exporting one or a few commodities whose prices fluctuate, as well as potential for corruption and inequality Fracking - Answers The pumping of water at high pressure to break apart rocks in order to release natural gas Peak oil - Answers The point at which half the total known oil supply is used up Geothermal gradient - Answers the gradual increase in temperature with depth in the crust Life cycle assessment - Answers Analysis of environmental impacts of products from the design stage through end-of-life. Sankey diagram - Answers A diagram showing energy transfers, where the width of each arrow is proportional to the amount of energy it represents. Resource exhaustion - Answers deposits of raw mineral materials (copper, zinc, etc.) will be exhausted within a few decades Mineralogical barrier - Answers the elevated cost or increase in energy required to mine metals from silicates instead of other mineral families. Circular economy - Answers an economy where outputs become future inputs, i.e. waste is recycled Hydrothermal vents - Answers an opening in the sea floor out of which heated mineral-rich water flows. Polymetallic nodules - Answers lumps of minerals that are scattered on the deep-ocean basins beyond the shelf The evolution of global oil supplies and markets after World War 2, including the Seven Sisters, OPEC, and the 1970s oil crises - Answers The war's end also brings about the end of U.S. gas rationing. The U.S. auto industry booms, with the number of cars in the United States jumping from twenty-six million to forty million in the five years after the war. How fracking works and its impact on oil supplies and geopolitics - Answers Fracking has boosted the rate at which oil and natural gas can be extracted, decreasing the price of oil The post-WW2 movement to nationalize nonrenewable resources: why it happened, how it worked, and what the results were - Answers The general role of nonrenewable resources in the Cold War and associated ideological movements and conflicts - Answers firmly entrenched oil as the fuel of choice for anything mobile. In some of these applications, like fueling ships and trains, it had replaced coal. The US would not share nuclear secrets The relationship between computers and nonrenewable resources, including the approximate number of nonrenewable resources needed to make a computer chip - Answers A group of 17 elements called rare earth metals are used in computer chips. What caused the surge of environmental regulation in the 1960s-70s and its impact on mining and petroleum production - Answers Along with the Santa Barbara oil spill, the Cuyahoga fire resulted from industrial oil pollution and the pollution of Lake Erie and other Great Lakes. members of the Organization of Arab Petroleum Exporting Countries (OAPEC) reduced their petroleum production What two factors (abundant easily extractable high-value resources plus poor governance) lead to the resource curse; at least one example of the resource curse - Answers - abundant easily extractable high-value resources -poor governance Democratic Republic of Congo, these mechanisms mean that rather than its economy benefiting from rises in the prices of its key commodities, it suffers, with outbreaks in violence harming economic activity and weighing on GDP.