'Resource', by contrast, denotes the amount of the same ore or element that is out there, with prior knowledge of roughly where it is, how much there is and how it might be extracted. Resources are transformed into reserves by spending money — when that is strictly necessary. Every generation exhausts its reserves of almost all minerals, because the tendency is to convert only enough resources into reserves to last for a generation.
Resources of phosphate and potassium fertilizers are sufficient for thousands of years of current usage.Nature then publishes a reply by Grantham, where he just repeats his worries.
Only about 0.5 parts per million of phosphorus occur in phosphate rock deposits that can be extracted economically, and the richest deposits are rapidly being depleted.
The price of phosphate rock has risen 4.3-fold in 10 years. The 'big agriculture' style of US farming is demanding ever-increasing quantities of phosphates. This must change, or millions more people will be priced out of the fertilizer and grain markets.I think he just fakes not getting it.