The Economic Aspect of GeologyLeith, C. K. (Charles Kenneth)
Science
The Economic Aspect of Geology
Leith, C. K. (Charles Kenneth)
Geology, Economic
The opportunities for cooperation with specialists of public
organizations are almost unlimited. These organizations are likely to
have an accumulation of data and experience extending through long
periods and over large areas, which the private explorer ordinarily
cannot hope to duplicate. With proper restrictions this information may
be available for public use. A good illustration of current cooperative
effort of this kind is in the deep exploration for oil in the Trenton
limestone of Illinois. Outcrops and other specific indications are not
sufficient to localize this drilling; but the information along broad
geologic and structural lines which has been collected previously by the
Illinois Survey is sufficient so that, with a comparatively small amount
of shallow drilling, the locus of the more favorable structural
conditions may be determined. In this case the Survey is directing the
initial exploration, which is financed by private capital.
ECONOMIC FACTORS IN EXPLORATION
The approach to the problem of exploration is very often determined by
local requirements and conditions; but if one were to come at the
problem from a distance and to keep matters in broad perspective, the
first step would be a consideration of what might be called the
_economic factors_. Let us suppose that the geologist is free to choose
his field of exploration. An obvious preliminary step is to eliminate
from consideration mineral commodities which are not in steady or large
demand and are much at the mercy of market conditions, or which are
otherwise not well situated commercially. The underlying factors are
many and complex. They include the present nature and future
possibilities of foreign competition, the domestic competition, the
grades necessary to meet competition, the cost of transportation, the
cost of mining under local conditions--including considerations of labor
and climatic and topographic conditions,--the probability of increase or
decrease in demand for the product, the possible changes in
metallurgical or concentrating practice (such as those which made
possible the mining of low-grade porphyry copper ores), the size of
already available reserves, and the mining laws in relation to
ownership and regulation. Most of these factors are discussed at some
length on other pages. After looking into the economic conditions
limiting the chromite, nickel, or tin developments in the United States,
the explorer might hesitate to proceed in these directions,--for he
would find that past experience shows little promise of quantities and
grades equivalent to those available in other countries, and that there
is little likelihood of tariffs or other artificial measures to improve
the domestic situation. Before and during the war, commercial conditions
might have shown the desirability of hunting for pyrite, but more recent
developments in the situation cast some doubt on this procedure. To go
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