Working on Subtitles in English at Moment.
Energy and Capital are very different things.The best description of this dichotomy I have encountered is this from Carol Quigley in Tragedy and Hope,”Thus, clearly, money and goods are not the same thing but are, on the contrary,
exactly opposite things. Most confusion in economic thinking arises from a failure to recognize this fact. Goods are wealth which you have, while money is a claim on wealth which you do not have. Thus goods are an asset; money is a debt. If goods are wealth; money is not wealth, or negative wealth, or even anti-wealth. They always behave in opposite ways, just as they usually move in opposite directions. If the value of one goes up, the value of the other goes down, and in the same proportion.”Quigley Tragedy and hope.Energy and Money are different.
The Contractors Principle of Valuation is a residual method of valuation which adds up all the input costs and then applies a discount rate to generate an annual economic rent ( Net Present Value )
which can then be used to calculate the rating assessment. At Shell I did hundreds of these types of Valuations and the Largest such valuation was for the St Fergus Gas Terminal.
Concepts such as Embodied energy also feed nicely back into measures of Levelized costs of electricity. Pulling these concepts of energy value as opposed to financial value into the equations should hopefully result in seeing what the problem we are trying to solve is? DO we want to save Society or the financial system as it currently operates?
Discount rates based upon the cost of Capital are pretty subjective as you will know Tim but it seems to me that EROIE measures Levelised costs of Electricity production and so forth and a residual valuation approach can yield a good method by which to assess the Economic potential for future prosperity based upon access to energy.