“Time-series analysis (Stern, 1993, 2000) shows that energy is needed in addition to capital and labor to explain the growth of GDP. But mainstream economics research has tended to downplay the importance of energy in economic growth. The principal models used to explain the growth process (e.g. Aghion and Howitt, 2009) do not include energy as a factor of production.”
– The Role of Energy in the Industrial Revolution and Modern Economic Growth, Stern and Kander (2012)
If energy is so important to any and every economy, why is it so aggressively avoided in research and discussion? Going further, why such heavy over politicization and division in the industry? Discard the tribalism in energy as nothing more than noise. It’s nonsensical down to its very core. We need as much energy being generated as possible in a way that doesn’t break an economy, and that can allow us to keep the wheels of society turning. How do we achieve such a lofty goal?
Direct monetization of energy ge
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