I think costs have to go up way beyond a 50% increase to have a significant impact, but it will happen - it's just a question of when.
Part of the problem, I think, as that we have all become a bit spoilt with the relatively low cost of energy. It doesn't really matter if you talk petrol, gas or electricity - they are all
dirt cheap!
Let me repeat that -
dirt cheap - do you believe it?
If I asked a average person to work for the equivalent cost of the energy they
produce, I'd be charged with exploitation.
For example, a 80kg person running (i.e. hard work) for 8 hours
consumes:
30 kJ/kg/hr x 80kg x 8 hr = 19200 kJ
Their useful work
output would be far less, but we'll use input figures for this exercise (pun :rolleyes: ).
Electricity costs the average household about $0.14/kWh
1 kWh = 60 x 60 kJ = 3600 kJ (=$0.14)
The cost in electricity per kJ:
$0.14 / 3600 = $0.0000389
Cost of energy used by a 80kg person running for 8 hours:
19200kJ x $0.0000389/kJ = $0.75
If that person was paid at the going rate for the work they do at the same rate we typically pay for electricity, they'd earn less than:
$0.10 per hour
I suspect most of us produce far less output (=energy) in a typical day. Would you be willing to work hard for 8 hours to be paid less than $0.10 per hour?
I'm sure the energy cost per unit for petrol is higher, but I'm an electrical engineer, not a chemical engineer:rolleyes:
The point I'm trying to make is that we have under valued the true worth of our energy supply. We are using energy sources that took millions of years to produce and burning it up like it costs nothing.