Part I: The Future of Energy (and the Planet)

– For Exernomics. Robert Ayres, Paris. 25 October, 2014

The future of energy will be driven by a combination of price and availability, as it always has. But in an uncertain world one thing is very sure, and that is that this combination is already in rapid transformation, so we are looking at a very different future indeed.

In my recent book (“The Bubble Economy”) , I have argued that the rising price of oil, in particular (because of its unique role as a fuel for mobile applications) together with the declining price of “renewables”  creates an opportunity for long-term investors. It is estimated that $2 trillion/year must be invested in renewable energy to meet future energy demand without increasing carbon dioxide emissions. Surprisingly, perhaps, current trends suggest that – contrary to widespread assumptions – such investments can be very profitable.

cropped-enegy-penury-nyc-skyline-without-lights.jpg

New York City skyline during power outage

 

– – – > For the full text, please click here – http://exernomics.wordpress.com/2014/10/24/the-future-of-energy/

# # #

Forthcoming editorials by Robert Ayres to appear in this Exernomics series:

To appear here next week:

* Part II. The Future Price of Oil

* Part III. The Future Price of Renewables

 

#  # #

About the author:

ayres bw smallRobert Ayres’s career has focused on the application of physical ideas, especially the laws of thermodynamics, to economics; a long-standing pioneering interest in material flows and transformations (Industrial Ecology or Industrial Metabolism); and most recently to challenging held ideas on the economic theory of growth.

* More at https://ruayres.wordpress.com/on-ayres/206-2/

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s