This is different than fish, as tungsten is recyclable and doesn't rot.
Read up on the Simon/Ehrlich wager. Nobody knows the future, but your professor was demonstrating a solid economic principle.
Read up on the Simon/Ehrlich wager. Nobody knows the future, but your professor was demonstrating a solid economic principle.
But teaching undergrads about tungsten and not fish is just propaganda.
Edit: To be clear, the point is not that my professor was idiotically wrong about oil and tungsten specifically. The "idiotic" part is to assume and furthermore imply to young students (who don't know any better) that the general principle holds equally well in all domains. Maybe "arrogant" would be a better word than "idiotic".