The Oil Drum | Stories tagged with "primary energy"

Stories tagged with "primary energy"

The financial return on energy invested

Posted by Euan Mearns on June 23, 2009 - 10:41am in The Oil Drum: Europe
Topic: Economics/Finance
Tags: ayres warr, eroei, froei, gdp, oil prices, original, primary energy [list all tags]

Global GDP data from the USDA. Primary energy data and energy prices from the BP statistical reveiw of world energy 2009.

Global GDP has grown steadily and continuously since WWII, in step with a growing global population and primary energy consumption (see below). Oil shocks have caused recessions compensated by higher energy prices that have bolstered global GDP at time of recession in the non-energy economy.

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“Of all races in an advanced stage of civilization, the American is the least accessible to long views… Always and everywhere in a hurry to get rich, he does not give a thought to remote consequences; he sees only present advantages… He does not remember, he does not feel, he lives in a materialist dream.”

—Moiseide Ostrogorski (1902, 302-303)