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The Petroleum Revolution II: Concentrated Power and Concentrated Industries

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Energy and the Wealth of Nations

Abstract

In our first chapter we developed the link between the historical development of energy sources and the development of human society. More energy has allowed humans to do more work, including that of producing more humans. We use the joule, for those not steeped in physical science, as the standard measure of energy. One joule is the amount of energy needed to lift a mass of 1 kg a distance of 1 m on the surface of the earth. A joule is equal to about one quarter of a calorie. Our more familiar unit is the kilocalorie (often written as Calorie), and is found, for example, on the back of food packages. One kilocalorie is 1,000 cal, equal to about 4.18 kJ. Thus if you consume a drink that says it has 100 Calories it you will have consumed 418 KJ. Later, in Chap. 8, we explore the relation between energy and power from a scientific perspective. Power is the rate of doing work, and is commonly measured in watts. From the standpoint of physics, power is energy used or expen­ded per unit of time, or the work that power causes or allows to be done. The most common unit of power is the watt, where 1 W = 1 J used/second.

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Correspondence to Charles A. S. Hall .

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Hall, C.A.S., Klitgaard, K.A. (2012). The Petroleum Revolution II: Concentrated Power and Concentrated Industries. In: Energy and the Wealth of Nations. Springer, New York, NY. https://doi.org/10.1007/978-1-4419-9398-4_6

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  • DOI: https://doi.org/10.1007/978-1-4419-9398-4_6

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