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The Rising Costs of Fossil‐Fuel Extraction: An Energy Crisis That Will Not Go Away
The American Journal of Economics and Sociology ( IF 1.103 ) Pub Date : 2020-07-22 , DOI: 10.1111/ajes.12336
Bart Hawkins Kreps

In biophysical terms, such as energy return on investment (EROI), energy sources for the global economy have grown more expensive over the last few decades. This trend is likely to be more pronounced in the near‐term future as conventional oil and gas are depleted and difficult‐to‐extract unconventional oil and gas become a larger part of the fossil‐fuel supply. On the one hand, this will lead to “energy sprawl”—the growth of the energy sector, as this sector consumes a much larger portion of the energy it extracts—leaving less energy surplus for other sectors. On the other hand, we will see an unsustainable imbalance between the fuel prices that fossil‐fuel companies will need to meet their costs and the fuel prices that the larger economy can afford to pay. This article reviews the historical role of inexpensive energy in economic growth, discusses the declining availability of conventional oil resources, and examines the increasing reliance on expensive, unconventional petroleum resources such as shale oil in the United States.

中文翻译:

化石燃料提取成本的上升:不会消失的能源危机

从生物物理的角度来看,例如能源投资回报率(EROI),全球经济的能源在过去几十年中变得越来越昂贵。随着常规石油和天然气的枯竭以及难以提取的非常规石油和天然气成为化石燃料供应的较大部分,这种趋势在不久的将来可能会更加明显。一方面,这将导致“能源扩张”,即能源部门的增长,因为该部门消耗了所提取能源的很大一部分,从而使其他部门的能源过剩减少了。另一方面,我们将看到化石燃料公司需要支付的燃料价格与较大的经济体可以负担的燃料价格之间存在不可持续的不平衡。本文回顾了廉价能源在经济增长中的历史作用,
更新日期:2020-07-22
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