by Chris Mayer, Daily Reckoning.com:
For some years now,” Tim Morgan writes in Life After Growth, “global average EROEIs have been falling, as energy resources have become both smaller and more difficult (meaning energy-costly) to extract.”
You may have heard of this concept called energy return on energy invested (EROEI). It looks at how much energy we expend in relation to how much energy we extract. Some, like Morgan, think this is very important.
Consequently, falling EROEIs have become the basis of a variety of dire forecasts…
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