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Energy Budgeting: Joules Or Dollars?

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  • Edwards, Geoff W.

Abstract

The assumptions which must be made to accept ratios of energy output to energy input as an efficiency measure with normative significance are examined and found to be unrealistic. It is considered better for governments to modify market prices where divergences exist between private and social costs or benefits than to use energy ratios, or prices determined by energy considerations, as a criterion in allocating resources. Moreover, in a trading world, energy considerations are often of little use in positive analysis of the relationship between energy prices and the prices, or profitability of production, of different foods in a particular country.

Suggested Citation

  • Edwards, Geoff W., 1976. "Energy Budgeting: Joules Or Dollars?," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 20(3), pages 1-13, December.
    • Handle: RePEc:ags:ajaeau:22374
    DOI: 10.22004/ag.econ.22374
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    File URL: https://ageconsearch.umn.edu/record/22374/files/20030179.pdf
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    References listed on IDEAS

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    1. Carter, H.O. & Youde, J.G., 1974. "Some Impacts Of The Changing Energy Situation On U.S. Agriculture," 1974 Annual Meeting, August 18-21, College Station, Texas 284571, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Webb, Michael & Pearce, David, 1975. "The economics of energy analysis," Energy Policy, Elsevier, vol. 3(4), pages 318-331, December.
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    Cited by:

    1. Malcolm, Bill, 2007. "Biofuel Mania," Papers 234178, University of Melbourne, Melbourne School of Land and Environment.
    2. Patterson, Murray G., 2002. "Ecological production based pricing of biosphere processes," Ecological Economics, Elsevier, vol. 41(3), pages 457-478, June.
    3. Bradford, Garnett L. & Eidman, Vernon R. & Jensen, Harald R., 1978. "A Systems Model Of The Indirect Energy Expended In Farm Machinery Production And Use," Staff Papers 13285, University of Minnesota, Department of Applied Economics.

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