History's littered with tales of once-rare resources made plentiful by innovation. The reason is pretty straightforward: scarcity if often contextual. Imagine a giant orange tree packed with fruit. If I pluck all the oranges from the lower branches, I am effectively out of accessible fruit. From my limited perspective, oranges are now scarce. But once someone invents a piece of technology called a ladder, I've suddenly got new reach. Problem solved. Technology is a resource-liberating mechanism. It can make the once scarce the now abundant.
-Peter H. Diamandis and Steven Kotler, Abundance: The Future Is Better Than You Think
For a more recent application of "technology is a resource-liberating mechanism," think about horizontal drilling and the liberation of shale oil. One take on the subject is here.