GGR333H5 Lecture Notes - Lecture 2: Fordism

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6 May 2018

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WEEK 2: PRIMARY ENERGY

• Consumption is conversion

• Converting one form to another

• Primary Energy: directly using energy from its naturally occurring source

• i.e. solar energy from the sun

• Watt = one joule/second

• Kilowatt = amount of energy in one hour

• China’s influence on global energy will (and can only) increase in the coming years

• Future buyers and seller of oil is more advantagous because you can multiply your

price by 10

• China is investing in renewable energy

• Cap and trade energy: companies can sell extra pollution credits

• results in uneven emissions when opened up to other locations

• Peak energy resources - Figure 1.15 in textbook

• Future supplies for gas/oil/coal

• Geography of energy supplies is finite

Regional Share of Proven Fuel Deposits/Resources - Figure 1.16 in textbook

• Where does the most fuel burn

• reserves/production ration = current reserves / current yearly usage

• effects trade conditions

• US has a lot of coal

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