"For some years now," says Tim Morgan in Life After Growth, "global average EROEIs have been falling, as energy resources have become both smaller and more difficult (meaning energy-costly) to extract."
"If EROEI falls materially, our consumerist way of life is over."
- 1970s oil and gas discoveries: 30-to-1
- Current conventional oil and gas discoveries: 20-to-1
- Oil sands: 5-to-1
- Nuclear: 4-to-1
- Photovoltaic: 4-to-1
- Biofuel: 2-to-1
"Money isn't everything. It is the only thing."
"Generating electricity, usually at a thermal conversion efficiency of less than 50% plus transmission losses, has an EROEI of much less than 1, but is still rational and economic because electricity is such a useful form of energy."