Skip to main content
Disciplines
Automotive Business IT + Informatics Construction + Real Estate Electrical Engineering + Electronics Energy + Sustainability Insurance + Risk Finance + Banking Management + Leadership Marketing + Sales Mechanical Engineering + Materials
Events
DE
EN
Books
Journals
Topic Page
Marketing
Start single access now
Access for companies
EXTENDED SEARCH
Log in
Top
Published in:
Introduction Read chapter Read first chapter

2017 | OriginalPaper | Chapter

5. Energy in the Economy

Author : S. W. Carmalt

Published in: The Economics of Oil

Publisher: Springer International Publishing

Log in

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

Energy is not like other resources. Whether mined as coal, produced from wells as oil or natural gas, released in a nuclear reactor, or captured by panels or windmills, energy is consumed.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

inform now
previous chapter Peak Oil
next chapter Oil’s Future Role in the Economy
Footnotes
1
The subject of thermodynamics is covered in many textbooks and online resources. Principle references consulted for this discussion are: Gallucci (1973) and Larsen (2014).
 
2
We generally learn the second law very early in life; the nursery rhyme Humpty Dumpty is one articulation of the Second Law.
 
3
That the equilibrium will never change in our room is not quite true—over billions of years the sun’s nuclear reactor will use up all its fuel and the solar system will cool down to a temperature very close to absolute zero—increasing the universe’s entropy as it does so.
 
4
The three were Jevons in England, Walras in France and Menger in Austria.
 
5
See Hall and Klitgaard (2012) for extensive discussion of energy flows through ecosystems.
 
6
Georgescu-Roegen (1971).
 
7
Beinhocker (2006) gives a synopsis of Georgescu-Roegen’s ideas.
 
8
There are many texts in ecology. For greater detail see Fundamentals of Ecology (5th edition; E. Odum and Barrett 2005) and The Systems View of Life (Capra and Luisi 2014) which give much more complete treatments of the subject.
 
9
Bureau of Economic Analysis of the US Department of Commerce.
 
10
The definition is as given in the BEA news release for the 2014 2nd quarter GDP figure at http://​bea.​gov/​newsreleases/​national/​GDP/​GDPnewsrelease.​htm accessed 2014-09-10.
 
11
In the USA imputed rent is included in the GDP calculation.
 
12
Sometimes also termed EROEI (Energy return on energy invested) and EROIE (Energy return on invested energy).
 
13
Somewhat similar to EROI is the Energy Return Ratio (ERR). Defined as simply
$$ {\text{ERR}} = {\text{Energy}}\;{\text{produced}}/{\text{Energy costs,}} $$
the relationship between EROI and ERR is EROI = ERR − 1.
 
14
At least every projection of which I am aware that looks at total, global energy supply and demand. See IEA (2013), EIA (2014), the Russian Academy of Sciences (Mitrova 2013), ExxonMobile (2012), Royal Dutch Shell (2009).
 
Metadata
Title
Energy in the Economy
Author
S. W. Carmalt
Copyright Year
2017
Book
The Economics of Oil

Print ISBN: 978-3-319-47817-3

Electronic ISBN: 978-3-319-47819-7

Copyright Year: 2017

DOI
https://doi.org/10.1007/978-3-319-47819-7_5