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Discount rate

Reading about the Stern review, Lomborg's plans, etc, one thing that often comes up is dispute about whether the discount rate is "wrong" leading to wrong conclusions, so I've started a page on the term. I can normally briskly rephrase a detailed article into an Azimuth-focused wiki page, but I can't find a general article to do that to so it's my own vague and confusing descriptions at the moment. Either direct improvements or pointers to better sources would be appreciated.

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1.

As it happens Nate Hagens has an article on this at The Oil Drum. Lots of references.

It is very relevant to the question of how we switch to new energy sources. We often hear stuff like "The initial energy cost of building it is only 15% of the total energy produced in its lifetime of 50 years, so we can ignore that." Can we? In fact not, as we would quickly see if we really tried to quickly cover the planet in windmills. The important thing to note is: money is not real wealth. The financiers talk as if it was, and you have to look through that, to what it really means in real terms.

Comment Source:As it happens Nate Hagens has an article on this at [The Oil Drum](http://www.theoildrum.com/node/7147). Lots of references. It is very relevant to the question of how we switch to new energy sources. We often hear stuff like "The initial energy cost of building it is only 15% of the total energy produced in its lifetime of 50 years, so we can ignore that." Can we? In fact not, as we would quickly see if we really tried to quickly cover the planet in windmills. The important thing to note is: money is not real wealth. The financiers talk as if it was, and you have to look through that, to what it really means in real terms.
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2.

Thanks for the pointer.

Comment Source:Thanks for the pointer.