Australia's strategic oil reserve
[UPDATE 7 May 2018. I originally posted this in July 2017, but since the Australian Federal Government announced a review, I thought I would repost this.] With the current political debates in Australia around energy and climate policy, it’s easy to neglect the...
Futurism and dematerialized growth
Futurists can be interesting to listen to but almost invariably bring a Silicon Valley mindset to addressing sustainability challenges. Discussing Google’s foray into energy with the RE<C project, Carey King noted that Google brings a mindset that is ‘used to...
The recessionary impact of bitcoin energy consumption
Much commentary has been devoted to bitcoin’s unsustainable proof-of-work algorithm that requires the consumption of a vast quantity of electricity. By some estimates, by February 2020 Bitcoin will use as much electricity as the entire world does today. This post...
A biophysical perspective of economic growth in Australia
In my last post, I introduced the biophysical interpretation of the economy by augmenting the standard circular flow model with energy. In this interpretation, energy is only partially substitutable with capital and labour, and there is a lower bound to substitution....
A biophysical perspective of IPCC integrated models
Analysis of the costs and benefits of climate mitigation involve extrapolation into the future. However, the long time horizons of interest extend well beyond the range of standard economic-development scenarios. In order to guide policy makers, `transformation...