Economics Value of Energy

We have seen that energy is basic for life and activities in nature and society. Energy is a measure of value in physical terms. However, the more complex a system or a process becomes, the less can be said by physics. Even the term ‘‘complexity’’ is problematic. There are several definitions of complexity as a quantitative concept in information theory. (more…)

Energy Import Dependence, Resource Exhaustion and Carbon Policy

energy import dependence
Geopolitical risk refers almost always to primary energy carriers (oil, gas, coal, uranium or renewable energy) since their location depends on the vagaries of geology and climate. Production and energy consumption are thus often physically far apart and take place in countries and regions with different histories, cultures and values. Apart from oil & gas exploration and production, all other steps of the energy chain such as refinement or enrichment, energy conversion and distribution can be moved physically closer to the final customer or are, like consumption, directly under the latter’s control. (more…)

Well-to-Wheels Total Energy and Fossil Energy Results

Well-to-Wheels
The combination of well-to-pump results and the energy use and emissions associated with vehicle operation (also called the pump-to-wheels stage) results in full well-to-wheels energy and emission results for vehicle/fuel systems. The energy efficiencies of 19 fuel pathways were presented in the preceding section. The well-to-wheels energy use and emissions results for 23 representative vehicle fuel systems, combined with some of the vehicle technology options are now considered. (more…)