Sustainable resource management policy of national economic development

Abstract

The article considers the mechanism of possible full supply of strategic resources for the purpose of implementing the concept of sustainable development. Two main approaches to the accumulation of resources are indicated: i) the first approach, aimed at maintaining a strategic stock of energy resources, which involves the concentration of resources to ensure the stability and security of energy supplies; ii) the second approach consists in the accumulation of financial assets through the receipt of income and allows the formation of a financial reserve. In the case of the first approach, the country like the United States strategically accumulated crude oil reserves, exemplified by the establishment of the Strategic Petroleum Reserve (SPR) in the 1970s. The percentage ratio of US crude oil exports relative to their daily oil consumption in the United States from 1980 to 2023 was calculated and detailed in the research, with trends such as a decline of 1% in 2005 and a subsequent increase of 156% in 2023 being revealed, and the impact of technological and geopolitical factors on these changes was determined