Why Economic Models Neglect Energy, and Why That’s a Problem
As the Fed raises interest rates to fight inflation, the economic models they use include energy as a small part of the overall picture. Is that model flawed?
economics of energy
With Bankruptcies Mounting, Faltering Oil and Gas Firms Are Leaving a Multi-billion Dollar Cleanup Bill to the Public
Amid a record wave of bankruptcies, the U.S. oil and gas industry is on the verge of defaulting on billions of dollars in environmental cleanup obligations.
Why Don’t Lions Chase Mice: review
This short book by Tim Watkins is sub titled “An Introduction to Energy-Based Economics”. Perhaps it is worth noting that this is not the same as being an introduction to energy economics and many of the topics in the book would seem a strange choice of topics for an energy economics textbook – the theory of money, for example, or a chapter to explain the economic history of the last few centuries and decades.
For Oil and Its Dependents, It’s Code Blue
If oil has been laid low by the coronavirus, then the nations whose economies most depend on it might soon be on ventilators. By any prognosis the great oil price collapse of 2020 has pushed the world’s most volatile commodity into Code Blue.
It’s Time for a Moratorium on New Fossil Fuel Extraction
New Mexico and other states that depend on fossil fuels need to wake up from the somnolence that oil wealth is bringing. The boom-and-bust cycle will continue, at least partly because the world is finally transitioning to renewable energy, though the more familiar fluctuation of global markets is also a factor.
One Point Twenty-One Jigawatts (Episode 3 of Crazy Town)
What would we do without energy? The short answer is, “Nothing, absolutely nothing.” And sadly, most people know next to nothing about energy and its fundamental role in society and life itself.
The World in 2018 – Part Three
Mainstream economics seems to have learned little and changed nothing in the last decade, despite the fact that the financial crisis and its aftermath laid bare a number of important issues with its theories and models.
War on Coal being waged by Geology and Markets, Not EPA
Even without the threat of carbon regulations, the US coal industry is already in dire straits.
IEA Investment Report – Stumbling on the Real Story
What the IEA has inadvertently stumbled upon is the reason why oil limits are a problem…It looks like there are plenty of resources available and plenty of ways to reduce energy use through mitigation. In fact, it becomes to impossible to finance everything that needs to be done.
Central Banks’ Balance Sheets, Interest Rates and the Oil Price
Money can be looked at as a marker for energy (alternatively; money is a claim on energy). As energy prices rise and/or energy supplies decline, this will depreciate the purchase value of money (and other paper constructs representing money).
The peak in world oil production is yet to come
Certainly world oil production did not stop growing in 2005. Last year’s total was estimated by the EIA to be 4.8 million barrels higher each day than it had been in 2005.
The big shift
An energy transition has begun, but it’s probably not the one you imagined.