“Because the world economy is a closed system, ECoE is not directly analogous to ‘cost’ in the usual financial sense. Rather, it is an economic rent, limiting the choice we exercise over any given quantity of energy. If we have 100 units of energy, and the ECoE is 5%, we exercise choice (or ‘discretion’) over 95 units. If ECoE rises to 10%, we now have discretion over only 90 units, even though the gross amount remains 100.”
Alluding to the long discussion on the previous Article, for instance, Are Thorium Based MSR mutually exclusive to Coal Fired and Gas Fired Power Stations.
As well as this idea of, are we resource restrained? as opposed to, are we Finance restrained? I am still slightly confused with Seeds and its approach to Debt, Money and the distinction between Productive Investment and Consumption Spending.
As part of a SEEDS stocktaking of the Energy Wealth and Energy Potential of the Total Economy where there are resource restraints on providing an Optimal Energy Output ( This will be electro Magnetic in nature ) Electro Magnetism is present in all matter inert and organic and whilst we might run out of Crude oil and other natural stores of Hydro Carbons, we are only really in any trouble when we run out of electrons.
The Analysis in the article Gives us a Gross Energy and a Net Energy available for total use. I suspect that the Available energy will be dynamic and has always been so and perhaps always will be and therein lies the question.
“Within the dynamic range of Net available energy for Use we meet political economy”. Discuss?