“…Consistent with extant literature and resource‐based theories, when a natural resource is scarce, it can become a source of competitive advantage for firms (Barney, 1991; Hunt & Morgan, 1996; Peteraf, 1993; Pfeffer & Salancik, 1978; Wernerfelt, 1984). Similarly, once that resource is recognized as scarce, either due to excess extraction past the precipice of scarcity, or naturally limited availability or presence, it can result in competitive rivalry for the resource (Ellram et al, 2013; Markman et al, 2009; Ralston et al, 2022), illicit efforts (Harris & Nolan, 2022; Le Gallic, 2008; Mbanze et al, 2021), and even tensions and conflicts (Wilcox & Bergseth, 2021) as individuals and organizations seek profit from scarce natural resources. Berman et al (2017) discuss the correlation between increased resource extraction, and, thus, competition, for natural resources and local conflict.…”