By Roy L. Nersesian
Three quarters of our present electrical energy utilization and shipping equipment are derived from fossil fuels and but inside of centuries those assets will dry up. Energy Economics covers the function of every fossil and renewable power resource in today’s global, delivering the data and instruments that might permit scholars to appreciate the finite nature of fossil fuels and the choice ideas which are to be had.
This textbook offers precise examinations of key power assets – either fossil fuels and renewables together with oil, coal, sun, and wind energy – and summarises how the present economics of power advanced. next chapters discover matters round coverage, know-how and the potential destiny for every form of strength. as well as this, readers are brought to arguable subject matters together with fracking and worldwide warming in devoted chapters on weather swap and sustainability.
Each bankruptcy concludes with a chain of initiatives, delivering instance difficulties and tasks with a purpose to extra discover the proposed matters. An accompanying spouse web site includes huge extra fabric at the heritage of the foremost different types of gas in addition to technical fabric on the subject of oil exploration, the advance of solar energy and ancient environmental laws.
This textbook is a necessary textual content if you happen to research strength economics, source economics or strength coverage.
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Additional resources for Energy Economics: Markets, History and Policy
The economics of electricity generation is that it is cheapest to build and fuel natural gas fired power plants. This assertion assumes that there is an economic benefit from replacing old, energy inefficient, fully amortized coal fired power plants with some years of remaining useful lives with new energy efficient plants with higher capital costs but lower fuel costs. If this analysis shows that there is an economic benefit in replacing old coal plants with new natural gas plants, then economic and policy goals are mutually reinforcing.
The added tax revenues do not support higher levels of government spending that would add to the GDP, but are dedicated to retiring debt that can no longer be refinanced by acquiring new debt. Under these circumstances, the contribution of the town or county to GDP declines. Look at Greece—the poster child of Europe. It can only borrow from the European Central Bank to make good on current debt servicing charges, which only transfers risk from one bank to another. To obtain such funds, the Greek government must raise taxes and cut costs by firing employees or reducing wages and pension benefits.
The Meiji Restoration in 1868 marked Japan’s entry as an industrial power, and China, under the emperors, was disinterested in Western technology and did not become an industrial state until the early twentieth century. 11 shows that the UK and US were essentially tied in terms of per capita economic activity, with Germany lagging from 1800 to 1940. In the aftermath of the war, US per capita economic activity surged as the victor that had suffered no domestic war damage. The UK and Germany were tied for second and third place by 1960 and were joined by Japan in 1970 as a consequence of its post-war economic awakening.
Energy Economics: Markets, History and Policy by Roy L. Nersesian