Ferdinand E. Banks

Energy Economics: A Modern Introduction (eBook, PDF)

• Format: PDF

Produktbeschreibung

"Energy is the go of things", as James Clerk Maxwell pointed out. This th simple truth was largely overlooked during the first 70 years of the 20 century, because in the industrial world most politicians, civil servants, and opinion makers were inclined to believe that virtually an infinite supply of reasonably priced energy would always be available, and so things would continue to 'go' in the manner to which many of their constituents and admirers had become accustomed. Similar opinions were held about fresh air, and water for consumption and agricultural uses. As a result, it was not until the last two decades of the century that serious courses in energy and environmental economics began to be offered at institutions of higher learning around the world. This book is intended as a comprehensive introductory text and/or reference book for courses of this nature having to do with energy economics. (I have also attempted to make the book useful for self study. ) As far as I know, there are no energy economics text or reference books on the level of this book in the English language. Needless to say, if I am wrong then I apologise to their authors; but right or wrong, I would like to see more energy economics books of all descriptions now. We cannot afford to have the same kind of mistakes made with energy policy that (in much of the world) are being made with e. g. employment policy.

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Produktdetails

• Verlag: Springer US
• Seitenzahl: 276
• Erscheinungstermin: 6. Dezember 2012
• Englisch
• ISBN-13: 9781461545514
• Artikelnr.: 44182472

Inhaltsangabe

1. Energy Economics: an Introductory Survey.- 1.1 Some Basic Ideas.- 1.2 Units and Heat Equivalents.- 1.3 More Basic Ideas.- 1.4 Conclusions.- 2. Discounting and Capital Values.- 2.1 First PrincipleS.- 2.2 A Very Small Oil Well.- 2.3 Annuities.- 2.4 Some Comments on Capital Values.- 2.5 Depletion.- 2.6 Conclusions.- 3. The World Oil Market.- 3.1 Some Background for Studying the Run-Up to He Oil Market Endgame.- 3.2 The Reserve-Production Ratio.- 3.3 Oil Supply and Demand, and the Reserve-Production Ratio.- 3.5 Oil Stocks And Oil Prices.- 3.6 Conclusions.- 3.7 Appendix: The Domestic Industrialization of Hydrocarbons.- 4. A Fuel of The Future: Natural Gas.- 4.1 Geology, Units, and Some Economics.- 4.2 Economic Theory and Natural Gas: an Introduction.- 4.2.1 Exercises.- 4.3 Regulation and Deregulation.- 4.4 Marginal Costs and Peak Load Pricing.- 4.5 Conclusions.- 5. Some Aspects of The World Coal Market.- 5.1 Introducing Coal Supply and Demand.- 5.2 Supply and Cost.- 5.3 Some Theoretical Aspects of Coal and the Environment.- 5.4 Coal And CO2.- 5.5 Conclusions.- 5.6 Appendix: Some Transportation Economics.- 6. Energy Derivatives: Futures, Options, and Swaps.- 6.1 Futures Markets: Terminology and Nomenclature.- 6.2 Further Mechanics of Hedging and Speculation.- 6.3 Basis Risk.- 6.4 An Options Fable.- 6.5 The Simple Algebra of Options.- 6.6 A Comment on the Option Price.- 6.7 Oil Swaps.- 6.8 Conclusions.- 6.9 Appendix.- 7. Electricity and Economics.- 7.1 Some Introductory Remarks.- 7.2 Daily Load Curves and Load Duration Curves.- 7.3 The Economics of Load Division.- 7.4 Some Final Observations on Electricity Tariffs.- 7.5 Conclusions.- 8. Uranium, Nuclear Energy, and an Introduction to Intertemporal Production Theory.- 8.1 Some Nuclear Background.- 8.2 Some Intertemporal Costand Production Theory.- 8.3 A Few Bad Nuclear Vibrations and a Comment on Option Theory.- 8.4 Conclusion.- 9. Additions, Extensions and Final Remarks.- 9.1 The Hotelling Hypothesis Examined Graphically.- 9.2 Convenience Yield.- 9.3 Analytical Odds and Ends: a Statistical Observation; the Winner's Curse; and Real Options.- 9.4 Conclusion: From the 20TH to The 21ST Century.- 10. Appendix.- A.1 Extra Questions.- A.2 Answers and Partial Answers to Selected Exercises..- A.3 Glossary.- A.4 References.- 11. Index.