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Can different energy resources be added or compared?

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  • Zarnikau, Jay
  • Guermouche, Sid
  • Schmidt, Philip

Abstract

The practice of directly adding and comparing Btus of energy from different energy resources may yield misleading conclusions in economic and policy studies. Economic aggregation indices (e.g., Divisia indices) are preferable to a heat-content index. Under some circumstances, an energy aggregate may fail to exist. We review the conditions necessary for aggregation or comparison, contrast different approaches, describe the form-value attributes that affect the relative economic values of different energy resources, and derive the microeconomic foundations of the Divisia approach. The development of an energy-technology Divisia aggregate is suggested when separability between energy and other inputs is not present.

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  • Zarnikau, Jay & Guermouche, Sid & Schmidt, Philip, 1996. "Can different energy resources be added or compared?," Energy, Elsevier, vol. 21(6), pages 483-491.
    • Handle: RePEc:eee:energy:v:21:y:1996:i:6:p:483-491
    DOI: 10.1016/0360-5442(96)00004-7
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    Cited by:

    1. Cleveland, Cutler J., 2005. "Net energy from the extraction of oil and gas in the United States," Energy, Elsevier, vol. 30(5), pages 769-782.
    2. Pokrovski, Vladimir N., 2003. "Energy in the theory of production," Energy, Elsevier, vol. 28(8), pages 769-788.
    3. Zarnikau, Jay, 1999. "Defining 'total energy use' in economic studies: does the aggregation approach matter?," Energy Economics, Elsevier, vol. 21(5), pages 485-492, October.
    4. Liao, Hua & Wei, Yi-Ming, 2010. "China's energy consumption: A perspective from Divisia aggregation approach," Energy, Elsevier, vol. 35(1), pages 28-34.
    5. Benjamin Leiva, 2019. "Why Are Prices Proportional to Embodied Energies?," Biophysical Economics and Resource Quality, Springer, vol. 4(3), pages 1-16, September.
    6. King, Carey W., 2014. "Matrix method for comparing system and individual energy return ratios when considering an energy transition," Energy, Elsevier, vol. 72(C), pages 254-265.
    7. Philip F. Henshaw & Carey King & Jay Zarnikau, 2011. "System Energy Assessment (SEA), Defining a Standard Measure of EROI for Energy Businesses as Whole Systems," Sustainability, MDPI, vol. 3(10), pages 1-36, October.
    8. Farla, Jacco C.M & Blok, Kornelis, 2000. "The use of physical indicators for the monitoring of energy intensity developments in the Netherlands, 1980–1995," Energy, Elsevier, vol. 25(7), pages 609-638.
    9. Choi, Ki-Hong & Ang, B.W., 2002. "Measuring thermal efficiency improvement in power generation," Energy, Elsevier, vol. 27(5), pages 447-455.

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