Introduction to Energies, Supply & Demand

Vocabulary terms and definitions regarding energy measurement units, power, thermodynamic laws, supply/demand statistics, and the Hubbert Peak Theory.

Energy

Defined as the ability to do work.

Work

The product of force and distance; it occurs when a force acting on a point causes a displacement in the direction of the force. Formula: $\text{Work} = \text{Force (N)} \times \text{Distance (m)}$.

Joule (J)

The S.I. unit of energy; defined as the work done when a force of $1\text{ Newton (N)}$ moves an object by $1\text{ meter (m)}$.

Power

The work done per unit time. Formula: $\text{Power} = \frac{\text{Work}}{\text{Time}}$, measured in Watts (W).

Watt (W)

The S.I. unit of power equal to one Joule per second ($1\text{ J} / 1\text{ S}$).

Kilowatt hour (kWh)

A composite unit of energy equivalent to one kilowatt ($1\text{ kW}$) of power sustained for one hour.

Calorie (cal)

Equal to $4.184\text{ J}$; the amount of energy required to raise the temperature of $1\text{ gram}$ of water by $1^{\text{o}}\text{C}$ at $1\text{ atm}$ pressure.

British thermal unit (Btu)

Commonly used in heating and air-conditioning, equal to $1.055\text{ kJ}$; the amount of energy required to increase the temperature of $1\text{ lb}$ of water from $14.5$ to $15.5^{\text{o}}\text{F}$.

Therm

A larger unit in the British system equal to $10^5\text{ Btu}$ or $1.055 \times 10^8\text{ J}$.

Quad (1 Q)

An extremely large amount of energy equal to $10^{15}\text{ Btu}$ or approximately $10^{18}\text{ J}$.

Electron volt (eV)

An extremely small amount of energy related to atoms or nuclei, equal to $1.6 \times 10^{-19}\text{ J}$.

Ton of coal equivalent (1 tce)

A measurement for energy from coal equal to $2.931 \times 10^{10}\text{ J}$.

Barrel of oil (1 bbl)

A measurement for energy from oil equal to $6.119 \times 10^9\text{ J}$.

Cubic foot of natural gas (1 scf)

Measured at standard pressure and temperature ($1\text{ atm}$ and $25^{\text{o}}\text{C}$), it is equal to $1.072 \times 10^6\text{ J}$ (often approximated as $10^6\text{ J}$).

Kinetic energy (KE)

Energy due to movement, calculated by the formula ${KE} = \frac{1}{2}mv^2$.

Potential energy (PE)

Energy due to position or composition, calculated by the formula ${PE} = mgh$.

Law of conservation of energy

States that energy cannot be created or destroyed, although it can be changed from one form to another, meaning the total amount remains the same before and after transformation.

Renewable Energy

Energy sources with an infinite supply and less environmental hazards, such as wind, solar, geothermal, biomass, and hydro.

Nonrenewable Energy

Energy sources with a finite static stock that cause environmental pollution, such as coal, oil, and gas.

OECD

The Organization for Economic Co-operation and Development.

Mtoe

Mega tonnes of oil equivalent.

Hubbert Peak Theory

A hypothesis proposed by M. King Hubbert stating that for any given geographical area, the rate of petroleum production tends to follow a bell-shaped curve over time.