This article and its companion are the initial products of BEA's natural resource accounting project. J. Steven Landefeld, BEA's Deputy Director, directed the project. He and Carol S. Carson, BEA's Director, were the principal authors of the two articles. Gerald F. Donahoe, Chief of the National Income and Wealth Division, coordinated and supervised the preparation of the estimates for this project. The other authors and their areas of responsibility were as follows: Bruce T. Grimm, SNA accounting issues, present discounted value minerals estimates, and rates of return; Stephanie L. Howell, IEESA framework and estimates other than minerals; Arnold J. Katz, conceptual issues, minerals methods, and oil and gas transactions estimates; Gary L. Rutledge, pollution abatement and control estimates; Timothy F. Slaper, minerals concepts and methods, current-rent minerals estimates, and oil and gas replacement-cost estimates; Eric J. Troyer, minerals methods and estimates. BEA also acknowledges the many outside experts who provided advice on source data and methods. In particular, Richard W. Haynes, of the U.S. Department of Agriculture Forest Service, provided data and essential assistance with the issues and methods involved in the valuation of standing timber.