It appears that mining costs and the creation of crypto currencies consumes a lot of resources

We have very little resources remaining in the world for each other and future generations. Does it make sense to waste resources like this? Could we do this in a cheaper and more economically friendly manner? And does the value of bitcoin directly correlate to the amount of resources and man hours that are destroyed in order to create it?
Yes I agree with you. Already we have limited natural resources, and use of these resources during mining is much high as compared with output. Energy consuption during bitcoin mining is much high and today billions of people doing mining due high price of bitcoin. Thats the alarm for us to stop wastage of energy.
To save natural resources we can go through Green way.... In this by using solar systems and wind energy, we can save energy and also cost for it.