chapter  1
34 Pages

Introduction: Technological Innovation in Natural Resource Industries

This book is about technological innovation in the extraction of natural resources and the effects of such innovation on U.S. natural resource industries. It is something of a paradox that the importance of technological innovation is underscored by the relative unimportance of these industries in national income statistics. Of a 1996 gross domestic product (GDP) of some $7.6 trillion, only about $240 billion, or 3.2%, originated in farming, fishing, forestry, and mining (CEA 1998).