Energy Return on Investment: A Unifying Principle for Biology, Economics, and Sustainability

Charles A.S. Hall

Springer, Nov 29, 2016 - Business & Economics - 174 pages

This authoritative but highly accessible book presents the reader with a powerful framework for understanding the critical role of the energy return on investment (EROI) in the survival and well-being of individuals, ecosystems, businesses, economies and nations. Growth and development are fundamental and ubiquitous processes at all scales, from individuals to food crops to national economies. While we are all familiar with the concepts of economic growth and living standards as measured by gross domestic product (GDP), we often take for granted the energy use that underpins GDP and our expectations for year-on-year growth. In this book, you will learn how these measures of “progress” are completely dependent on the balance that can be achieved between energy costs (inputs) and gains. Nothing is made or moved without an energy surplus, and it is the EROI of available energy sources more than any other single factor that determines the shape of civilization.
Nearly all politics and economics assume that policy and market forces are the levers upon which future outcomes will hinge. However, this book presents many examples of historical and current events that can be explained much more clearly from an energetic perspective. In addition, a future scenario is developed that gives a central place to EROI in assessing the potential of governmental and private initiatives to substitute so-called renewable energy sources for diminishing stocks of fossil fuels. When cheap fossil fuels are no longer available in the abundance needed to mask economic problems and power business as usual, it will be EROI more than the plethora of “green” technologies that creates the boundary conditions for a sustainable future.

Contents

• Energy and Investments: 2
• 1 Investments: 3
• 2 The Development of the Laws of Thermodynamics: 7
• 3 About Energy: 21
• 4 Energy and the Physical World: 33
• Energy and Biology: 47
• 5 The Ecological Theater and the Evolutionary Play: 48
• 6 Energy Return on Investment as Master Driver of Evolution: 59
• 7 Maximum Power and Biology: 73
• Energy and Human Economies: 87
• 8 Energy in Early Human Economies: 88
• 9 Fossil Fuels: 95
• 10 EROI and Industrial Economies: 107
• 11 Methods and Critiques for EROI Applied to Modern Fuels: 118
• 12 The History Future and Implications of EROI for Society: 145
• Index: 170

About the author

Charles Hall is a Systems Ecologist who received his PhD under Howard T. Odum at the University of North Carolina at Chapel Hill. Dr. Hall is Professor Emeritus at the College of Environmental Science and Forestry at the State University of New York, and the author or editor of twelve books and nearly 300 scholarly articles. He has worked or taught in some 30 different countries. He is best known for development of the concept of EROI, or energy return on investment, which is an examination of how organisms, including humans, invest energy into obtaining additional energy to improve biotic or social fitness. He has applied these approaches to fish migrations, carbon balance, tropical land use change, the extraction of petroleum and other fuels, and how EROI influences the ability of society to achieve different levels of economic and social development. Presently he is developing a new field, BioPhysical Economics, as a supplement or alternative to conventional neoclassical economics,while applying systems and EROI thinking to a broad series of resource and economic issues.

Bibliographic information

• Title: Energy Return on Investment: A Unifying Principle for Biology, Economics, and Sustainability; Lecture Notes in Energy; Energy (R0)
• Author: Charles A.S. Hall
• Publisher: Springer, 2016
• ISBN: 3319478214, 9783319478210
• Length: 174 pages
• Subjects: Business & Economics / Development / Economic Development; Business & Economics / Economics / General; Business & Economics / Industries / Energy; Science / Earth Sciences / General; Science / Earth Sciences / Meteorology & Climatology; Science / Life Sciences / Ecology; Science / Mechanics / Thermodynamics; Technology & Engineering / Power Resources / General