3 ms·
The price of energy and the energy intensity of an economy are not the same thing. This is because the price of energy is the cost at the margin: the cost of pr
by scatters 7y ago
The price of energy and the energy intensity of an economy are not the same thing. This is because the price of energy is the cost at the margin: the cost of producing one additional unit of energy. Since a rational economy exploits cheap sources of energy first, this price is necessarily no less than the cost of production of each unit of energy actually consumed. So there is no contradiction.