Economics energy’ prices

See also Aircraft Aviation Fuel Efficiency of Energy Use, Economic Concerns and Engines Kerosene Subsidies and Energy Costs Supply and Demand and Energy Prices Transportation, Evolution of Energy Use and. 

After the average crude oil price increased from 3.18 per barrel in 1970 to 21.59 in 1980, many analysts forecast skyrocketing energy prices for the remainder of the centuiy. The middle price path of the U.S. Energy Information Administration in 1979 projected a nominal price of 117.50 per barrel in 1995 Such forecasts seemed to be soundly based not only in recent experience but also in the economic theoiy of exhaustible resources. As a consequence, U.S. industries invested heavily in energy conseiwa-tion measures, with the result that industrial consumption of energy decreased from 31.5 quads in 1973 to 27.2 in 1985. Some of this investment was probably not warranted on economic efficiency gi ounds because prices ceased to rise after 1981, and even plummeted to 10 per barrel in 1986. 

See also Energy Economics Oil and Gas, Drilling for Oil and Gas, Exploration for Oil and Gas, Production of Supply and Demand and Energy Prices. 

See aho Efficiency of Energy Use Energy Economics Futures Supply and Demand and Energy Prices. 

Based on the framework of economic development, energy prices, hydrogen car penetration and the structure of renewable hydrogen production described in the previous sections, the hydrogen car s high-penetration scenario of HyWays is simulated with the ASTRA model and the results are compared with the BAU scenario. Figure 18.14... 

Although the technical feasibility of a 2000 Watt per capita society in the second half of this century has been clarified and its economic feasibility is likely to be achievable at present energy price levels, its practical realisation remains an open question. The external cost of fossil-fuel use and many obstacles at sectoral and technology levels still hinder a fast implementation, as do a limited perception of the motivation and opportunities of possible first movers and supporting actors and a limited understanding of the innovation system. 

Popp, David. 2001. Induced Innovation and Energy Prices. National Bureau of Economic Research Working Paper 8284. 

Many traditional economic analyses concluded that the cost of reducing U.S. greenhouse gas emissions to 1990 levels by 2010 would harm the economy and cost jobs, with carbon dioxide (co2) permits costing 60 per metric ton or more, which would raise energy prices by as much as 40 percent. These results made use of top-down economic models that rely on macroeconomic assumptions about how fast technology changes and are thus especially weak in their ability to characterize the effects of technology. Years earlier, most of these same models had wildly overestimated the price of industrial permits to emit sulfur dioxide that would result from the Clean Air Act restrictions, some by a factor of five or more.1... 

If energy prices develop in such a way that it becomes economically attractive to use methanol in gasoline or as a fuel for power production the market potential in these areas is almost unlimited. This development, however, will be governed by political decisions and so predictions for the future are almost impossible. 

The future and technological probability of photobiological hydrogen production depends on not only advance of research but also economical conditions (price of fossil fuels) or social acceptance and development of hydrogen energy systems. 

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