A Daily Energy Economics DozenProfessor Ferdinand E. Banks
February 18th, 2015
Twelve (12) Easy Energy Economics Exercises
An Important Introduction: Uncommon Knowledge
Try thinking about and never forgetting the following. France and Sweden may still have the largest nuclear inventory per voter in the world, and they also once enjoyed the lowest electricity prices in Europe, and perhaps the world. Their nuclear reactors also have an admirable safety record, despite the 'advanced age' of some of this equipment. Something else that you should find of interest, and which deserves close attention, is that according to the CIA 'Fact Book', Japan is one of the most nuclear intensive countries in the world, but at the same time, on the average, its residents have the longest life expectancy in the world for residents of a major industrial power. The life expectancy in non-nuclear Denmark (and non-nuclear Norway) is below that of nuclear intensive Sweden and very nuclear intensive Japan. The CIA 'fact book' has Monaco at the top of life expectancies, but tiny (and rich) Monaco is 'surrounded' by nuclear intensive France. According to the Japanese government there were no casualties at Fukushima that can be attributed to nuclear failure, and according to the U.S. government, none at all at Three-Mile Island. As for Chernobyl, the casualty count provided by the Russian government is not something that I repeat because it sounds too low. There are more than 400 reactors in operation today, many are being constructed at the present time, and even more are in the planning stage. Given this situation, I find it very easy to accept that there will be well over 500 in a decade, and you should accept it too instead of pretending that nuclear is a lost cause. Some of those reactors might be breeders, and according to Professor Jeffrey Sachs (of Columbia University and the Earth Institute) nuclear is the only sensible way to deal with the climate disruption problem.Click here to download the remainder of this article as a PDF. Including the following topics....
1. A Nuclear Energy Update
2. The Oil Price and Macroeconomics
3. An Update on The Economics of the Great Coal Game
4. Seizing the Energy Day
5. A Setting Sun for Oil?
6. A Russian Energy Reality
7. Japan and Population
8. Some Myth and Meaning of Oil Economics
9. A Statement About Nuclear Lies and Truth
10. Windpower: More Bad News Blows in From Denmark
11. Thinking Ahead: A Handout for a Lecture on Natural gas
12. Another Look at Some Aspects of Electric Deregulation.
Professor Ferdinand E. Banks
February 18th, 2015
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