Abstract: A recent statistical study found that the 100% increase in energy prices between 1974 and 1981 resulted in only a 3% change in energy conservation because manufacturers stopped making energy-intensive products. High energy prices, which boost interest rates, have slowed efforts to replace capital equipment to make it more efficient. Most of the 39.7% drop in oil used by industry, for example, was due to fuel substitution and a different product mix, with only 5.1% the result of less energy intensity for specific products. The study objects to accounting conventions used to compare electricity and fossil fuels for fuel-switching purposes.
Publication Year: 1984
Publication Date: 1984-01-30
Language: en
Type: article
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