Wednesday, February 27, 2019

How EROI for oil is wrongly calculated and the failure of #renewables

Trying to assess the relative worth of Iraqi versus US shale oil is complicated, however, by our failure to account for the full cost – in energy and cash – of recovery. Most calculations of Energy Return on Investment (EROI) are made at the well head, whereas what we need to know is the cost at the point of use. While a lot less energy goes into getting a barrel of Iraqi oil out of the ground compared to US fracking, this misses the point. The full EROI cost must also include the ongoing military occupation of the country that was required to allow US oil companies to get their hands on it to begin with. It is with this in mind that we should view America’s latest attempt to foist “freedom and democracy” on yet another unwilling populace; in this instance, Venezuela.