Depletion of important renewable and non-renewable resources has accompanied economic growth. Many of the world’s fisheries are in decline due to over-fishing. Tropical forests are being lost at a rapid rate. Nearly a billion people live in countries where water is in scarce supply. In almost all of these areas, water supplies continue to be overdrawn and polluted. Stocks of key mineral resources, such as aluminum and copper, are for the most part not close to exhaustion, but high-quality reserves are being depleted, and recovery of lower-quality reserves tends to involve higher energy and environmental costs.

Probably no other natural resource has been more critical for modern economic growth than fossil fuels. These fuels (oil, coal, and natural gas) currently provide 86% of global energy supplies. The U.S. Department of Energy projects that global demand for fossil fuel energy will increase approximately 60% between 2006 and 2030. However, many estimates suggest that global production of oil, the most-used energy source, will peak within the next few decades. If this occurs – and global demand continues to climb – it will create a situation of increasing scarcity and rising prices. Given the current dependence on fossil fuels, this threatens both the potential for developed countries to maintain their living standards and for developing countries to reduce poverty.

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