Friday, December 17, 2010

"Global Boom in Resource Spending" Predicted by the Financial Times; $120 Billion to be Spent on Mining Next Year

One of the world's most important business newspapers, the London-based Financial Times, is predicting a 2011 "global boom" in resource-related spending.

In a front page story this week ("Global Boom in Resource Spending," Dec. 15, 2010), the FT described the boom in this manner:

"The boom in capital expenditures, which extends to oil, natural gas and agribusinesses, comes amid sharply rising prices for commodities such as copper, iron ore, crude oil, sugar and wheat."

A particular area noted for growth will be mining. In this regard, the FT reported:
"Global mining expenditure is set to hit a record $115-120 billion next year, above the peak of $110 billion set in 2008, according to a survey of senior industry executives and consultants."
The FT's report on resource investment underscores why the Environmental and Natural Resources Law program at the University of Denver Sturm College of Law is serving such an important need. The future we are heading into is not likely to resemble anything we have encountered in the past, particularly bearing in mind the resource-intensive nature of the economies of countries such as China and India.

Our aim at DU is to prepare our students to operate in this environment, and that is a commitment we feel very strongly about. Our range of international resources-related courses continues to expand, and thus news of this sort is taken very seriously as we consider how best to design a curriculm that meets the needs of tomorrow's professionals. In short, we believe the University of Denver is "the" place to study and learn about these issues.

Don C. Smith
Environmental and Natural Resources Law Program

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