Energy return on investment, peak oil, and the end of economic growth.
Ann N Y Acad Sci
; 1219: 52-72, 2011 Feb.
Article
en En
| MEDLINE
| ID: mdl-21332492
ABSTRACT
Economic growth over the past 40 years has used increasing quantities of fossil energy, and most importantly oil. Yet, our ability to increase the global supply of conventional crude oil much beyond current levels is doubtful, which may pose a problem for continued economic growth. Our research indicates that, due to the depletion of conventional, and hence cheap, crude oil supplies (i.e., peak oil), increasing the supply of oil in the future would require exploiting lower quality resources (i.e., expensive), and thus could occur only at high prices. This situation creates a system of feedbacks that can be aptly described as an economic growth paradox increasing the oil supply to support economic growth will require high oil prices that will undermine that economic growth. From this we conclude that the economic growth of the past 40 years is unlikely to continue in the long term unless there is some remarkable change in how we manage our economy.
Texto completo:
1
Colección:
01-internacional
Base de datos:
MEDLINE
Asunto principal:
Desarrollo Económico
/
Conservación de los Recursos Naturales
/
Inversiones en Salud
Tipo de estudio:
Health_economic_evaluation
Aspecto:
Determinantes_sociais_saude
Idioma:
En
Revista:
Ann N Y Acad Sci
Año:
2011
Tipo del documento:
Article
País de afiliación:
Estados Unidos