Energy connects all economic activity on earth. Biophysical Economics and its focus on energy provides a set of tools based on the natural sciences to cut through the noise, hype and limitations of traditional economics. This helps us to get to some unique insights of our economic world and investment options, rooted in hard physics.
In this session, David Murphy, Associate Professor, Environmental Studies, St. Lawrence University and noted research scientist in biophysical economics, will first provide a primer on net energy analysis and EROI/ESOI, and outline a real-life business case application.
Carey King, Assistant Director, Research Scientist, The University of Texas at Austin Energy Institute, will then discuss applying net energy analysis to the macro environment and explore some unique insights that this offers, in conjunction with food supply, interest and debt. He will identify some fundamental structural changes that have taken place in the US economy over the past 50 years when looking at it with an energy lens. He will show how these changes have so far been partially masked, we appear to be now at a stage where they are increasingly coming much more visible and impactful. Carey is the author of The Economic Superorganism: Beyond the Competing Narratives on Energy, Growth, and Policy, a book that sifts through the energy and economic narratives we hear in the news by using a holistic and biophysical explanation of the economy to explain long-term growth and structural change in the economy.
This panel discussion will be hosted by Jan-Pieter Oosterom, President of the Biophysical Economics Institute.
Panel Discussion Highlights
Why does EROI matter if you have lots of primary energy available and you aren’t constrained in the rate that you use it?
Carey King discusses the link between inflation and energy