But no one really suffered any measurable harm from the accident the expiration of radiation was no greater than at French and Dutch installations during the same period, none of which caused a public panic. U.S. media analysts, however, largely ignored the question of risks and benefits. Another popular subject of dire forecasts is energy and minerals. Here again, the facts belie the scare stories. The earth is much more fungible than a spaceship.
Copper provides a classic example.
The price of copper increased dramatically when Chile nationalized its copper mines in the 1960s. Since then, however, it has consistently decreased. Customers switched to less-expensive alloys, and providers of transcontinental communications switched from coaxial cables to satellites. This is the paradigm for almost any mineral of value to humans. The increase in supply has been quite staggering, and it occurred because of innovations introduced in the last twenty years after the initial OPEC price increases.