If the world today had no oceans, human life would almost come to a drastic end. Oceans play a very key role in ensuring the continuity of life on earth. It has actually been noted that oceans are the most valuable natural resources on earth today. Oceans provide humans with a wide range of benefits which include food, raw materials, and energy, and also, act as a medium of transport. Studies over the recent past have shown that the oceans generate $2.5 trillion in a single year, thereby becoming a key driver in ensuring global economic prosperity (Food and Agriculture Organization (FOA), 2012). However, the major resources that contribute largely to this annual value are; fish, diamonds, and oil found in the oceans and extracted by humans for both commercial and non-commercial use. This paper analyses each of these resources and specific areas where they can be found around the world. Fish have become a very important part of society and a great contributor to the world’s economy for a protracted period. Marine fisheries contribute 16% of the world's proteins; hence, an important food source that enhances the well-being of communities (FOA, 2012). Annually, around 88 million tons of fish are produced around the world. For instance, China has been the world’s greatest fish producer over the years, with an estimated annual production of 49, 467, 463 tons. The fishing industry has contributed a lot in offering job opportunities to a large population worldwide, including China with an estimated 4.3 million working full-time in marine fisheries. Other countries that produce fish in large quantities include Peru, Japan, the USA, Russia, Indonesia, Chile, India, Thailand, and Norway. Fish are caught through various methods which mostly depend on the amounts of fish required and the purpose of fishing. For recreational fishing or home-consumption fishing, hooks are used where the fisher gets only one fish at a time, and only obtains an amount that is sufficient for their needs (FOA, 2012). When fishing for commercial purposes, where large amounts of fish are required, methods such as seining, drifting, huge trawlers, and casting of nets are employed. The choice of each method depends on whether the production is based on a small or large scale. Most of this fish is solely used as food but this only amounts to 60% of the fish produced. The other 40% is used for other purposes such as the production of fish meal and fish oil. In 2014, the world’s trade in fish averaged US$ 148 billion, making fish a key role player in the world’s economy (World Ocean Review, 2016). The ocean floor is also famous for inhabiting valuable minerals such as diamond, gold, silver, and other metal ores. Diamonds, for instance, are found in great amounts in the oceans but are much harder to mine. Diamond has been classified as the most valuable mineral and its production from the ocean has been a great contributor to the world’s economic growth. Currently, mining is quite a hectic process, but there is a huge potential in the future given the evolution of the mining world coupled with technological developments. Its mass production could result in substantial economic growth and development for the world economies. It is mined in Namibia where a fleet of mining vessels is used to extract it. The mining is controlled by Debmarine Namibia in partnership with De Beers and the Namibian government (World Ocean Review, 2016). Gravel and sand are also extracted from the ocean and are used for commercial purposes generating income. Oceans have also been a great source of oil in the world. In 2000, there were 44 oil fields worldwide, but by 2007 the number had increased to 157. In that year, oil consumption reached a total rate of 3.9 billion tons. Of this amount, 1.4 billion tons of oil was derived from the ocean and this amounted to 37% of the total oil consumed. This percentage is probably going to increase over time as more oil fields are discovered in various places around the world. Currently, areas that extract oil from the ocean currently include The Gulf of Mexico, the North Sea, West Africa, the Atlantic Ocean off Brazil, the seas off South East Asia, and the Arabian Gulf (World Ocean Review, 2016). Looking at the benefits that the oceans have provided, it is, therefore, clear that oceans are significant natural resources. And oceans will continue playing critical roles in the world economies. Therefore, it is a call to everyone to engage in protecting the sea waters and safeguarding them from depletion and contamination.
References
World Ocean Review. (2016). Living with the oceans- A report on the state of the world's oceans. Energy. Retrieved from http://worldoceanreview.com/en/wor-1/energy/fossil-fuels/.
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Food and Agriculture Organization (FOA). (2012). Status and Trends: World Review of Fisheries and Aquaculture. Retrieved from http://www.fao.org/docrep/016/i2727e/i2727e01.pdf.
