A nice definition snipped from a well written article:
It is obvious that energy sources must produce more energy than they consume. If they do not, they are energy “sinks”. And so, in order to get a correct picture of where we stand, we have to take into account the “energy price”. Energy sources that consume more energy than they produce are manifestly worthless, without reference to the “money price” of energy.
According to peak oil analysts, the world is currently using six barrels of oil to discover one new barrel. Mr Aleklett and other peak oil analysts assert that the West must mend its profligate ways and control the demand it generates for oil. They have a point: the US has five per cent of the world’s population and burns up 25 per cent of its resources.
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