louisiana’s economy section 3

Louisiana’s EconomySection 3

Resources and Rewards

RESOURCE is a source of supply or supportThere are 5 types of RESOURCES:

NaturalCapitalHumanRenewableNon Renewable

What are three types of resources found in the photograph below?

NATURAL RESOURCESIs a gift of nature,

or part of the natural environment

Examples include: air, water, soil

Can be MINERAL or BIOLOGICAL

Non Renewable Resources

Mineral Resources that are not replaced by nature once they are extracted from the environment.

Inorganic substances that were formed by the Earth’s geologic processes.

Examples include: oil, natural gas, & salt.

MINERAL RESOURCESOIL

Made from plant decay 10 million years ago.

Louisiana has 10% of the world’s known oil reserves in the U.S.

Louisiana is the 3rd largest oil producer in the U.S.

Chemicals refined from oil create an almost unlimited list of other products.

MINERAL RESOURCES Natural Gas

Louisiana has more natural gas than oil deposits.

Louisiana produces 25% of U.S. supply.

Is converted to carbon black, which is used in making tires, carbon paper, & ink, etc…

Burns clean & is very efficient.Fuel for homes & industries.

MINERALS RESOURCES Salt

Essential to the diet of both humans & animals.

Used as a form of money.Not just used for preserving food.Makes a chemical that is used to make

PVC pipes, plumbing & outdoor furniture.During the Civil War an underground salt

deposit was discovered on Avery Island.

MINERAL RESOURCESSulphur

A mineral used today to make matches, gunpowder, medicine, & plastic.

The town of Sulphur developed the industry.

Production peaked in 1904, but was played out by 1924.

Port Sulphur, in Plaquemines Parish was also named because of the its Sulphur industry.

MINERAL RESOURCESLignite

Brownish-black coal – found in DeSoto Parish.Lowest quality of coal because of high water

content.Gained importance in the 1970’s.U.S. government encouraged the use of other

sources of energy after a shortage of imported oil occurred.

RENEWABLE RESOURCESBiological

resources that replenish themselves over time

Examples include: plants & animals

BIOLOGICAL RESOURCESAre plants & animals, & replenish themselves

in time. Biological Resources are Renewable

Resources.Example:

Spanish Moss was sold as stuffing for mattresses & furniture but now is used for bedding in minnow farms

BIOLOGICAL RESOURCESForests

Trees are LA’s 2nd largest income producerLouisiana has more than 13.9 million acres of

forests.90% of trees cut down are pine, 75% is used to

make pulpwood for making paperA new forestry industry is a Christmas Tree

Farm, more than 150 in Louisiana supply this seasonal specialty.

BIOLOGICAL RESOURCESWildlife

Why are we known as the Sportsman’s Paradise?

The demand for fur is down so trapping has decreased

The alligator is important to the ecosystem as well as the economy, because it is endangered we now have alligator farms

BIOLOGICAL RESOURCESFish and Seafood

Fishing is an industry, mostly done for recreation due to the abundance of rivers, lakes, & bayous.

The Gulf of Mexico supplies us with generous harvests of seafood.

The Louisiana commercial fishing industry catches about 25% of the U.S. seafood.

Catfish & crawfish are now are farmed.Atchafalayla Basin produces millions of pounds

of crawfish annually.

BIOLOGICAL RESOURCESFish and Seafood

What are some other seafood products important to Louisiana?

How do you think the oil spill affected the fishing and seafood industry?

CAPITAL RESOURCESInclude buildings &

equipment used to produce goods & services

Examples include: schools, hospitals, or the refineries

HUMAN RESOURCESPeople who supply

the labor to produce goods & services

Examples include: you & me

LABOR UNIONSGroups of workers

organized to demand fair pay and safe workings conditions.