Resourced based economies are based on a fallacy, that resources have a finite limit and up to that limit their value is fixed, but this is a fundamentally flawed understanding of ALL extractive technologies. Extractive technologies always start with the richest easiest to get at ores, and thus initially costs are low and as those ores are depleted, successively more difficult and less concentrated ores are used, at greater expense, and at some point the cost of extraction is no longer viable for all but the most precious uses, and this is the true nature of extractive technologies. Because the value isn't fixed this does not work as a basis for an economic system.