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Carey King Research Newsletter - April 2017:
Two items for this newsletter:
1st: Crowdfunding Opportunity ($25K matching donation!)
A generous donor has agreed to fund my research into energy and economics integration by matching each dollar, 1:1, up to $25K, for a total of $50K.
I have launched a crowdfunding campaign (through May 18, 2017) to raise the $25K in matching funds.
With this funding, I can hire a post-doctoral fellow to assist me and my students pursue a new system dynamics macroeconomic model that seeks to address a couple of major flaws in current macroeconomic practice. With this funding we can (1) train the next generation of economic and systems experts, (2) continue progress on model development, and (3) disseminate findings from the approach.
Visit crowdfunding site and watch video
https://hornraiser.utexas.edu/king_macroeconomics
Three ways to donate
- Click the following link to UT Austin's "Hornraiser" Crowdfunding page (3-minute video, research description, and funding link)
- Donate directly to my account via the UT-Austin Giving page (using credit card):
- The two drop-down menus should already be selected for my account under (i) "Provost, Office of the Executive Vice President and" and (ii) "ENI - Carey King - Research"
- Check or wire:
- If you do not want to donate using your credit card (and avoid 3% processing fee!), you can send a check or a wire. To send a donation in this manner, contact myself and the Energy Institute account assistant, Claudia Martinez-Castañon (cmc@energy.utexas.edu).
What is the research problem I am pursuing, and why?
Have you ever wondered why it is so obvious to some that we could and should transform our energy system to 100% renewable energy, and that economic activity would not skip a beat, while it is seemingly equally obvious to others that the moral argument is exactly the opposite, that we should produce as much fossil fuel energy as possible? You can’t come to more opposite conclusions from observing the same world we live in.
One explanation of this divergence in conclusions is the following:
economics is broken, and discussions regarding energy alternatives focus heavily upon flawed economic calculations and theory.
What is the research solution?
Several modeling concepts must be integrated into a new macro-modeling framework if we are to properly interpret our current post-2008 "secular stagnation" macroeconomic situation in the context of the long-term role of energy in our economy:
- debt,
- natural resources use,
- population demographics,
- employment, &
- wages.
I am seeking to continue the work of my current students, such as what Harsh Jayaswal presented at the U.S. Association for Energy Economics meeting in November 2016:
Jayaswal, “Harsh”, and King, Carey W. Macroscale Modeling Linking Energy and Debt, 34th United States Association for Energy Economics & International Association for Energy Economics (USAEE/IAEE) North American Conference, Tulsa, OK, October 23-26, 2016.
Paper abstract: link
Presentation: link
Three ways to donate
- Click the following link to UT Austin's "Hornraiser" Crowdfunding page (3-minute video, research description, and funding link)
- Donate directly to my account via the UT-Austin Giving page (using credit card):
- The two drop-down menus should already be selected for my account under (i) "Provost, Office of the Executive Vice President and" and (ii) "ENI - Carey King - Research"
- Check or wire:
- If you do not want to donate using your credit card (and avoid 3% processing fee!), you can send a check or a wire. To send a donation in this manner, contact myself and the Energy Institute account assistant, Claudia Martinez-Castañon (cmc@energy.utexas.edu).
2nd: Latest Journal Publication on Electric Grid Costs
Free download until May 13, 2017
My latest journal publication is co-authored by Robert Fares, a recent and former post-doctoral fellow at the Energy Institute. This paper describes the historical trends for the electric grid in three parts: transmission, distribution, and administrative (TD&A) costs. This paper was an offshoot of the Energy Institute's Full Cost of Electricity study.
Paper:
Fares, Robert L. and King, Carey W. “Trends in transmission, distribution, and administration costs for U.S. investor-owned electric utilities,” Energy Policy, 2017, 105 (June 2017), 354-362., doi: 10.1016/j.enpol.2017.02.036.
Journal paper link (to read and download): online link.
White paper written for the Full Cost of Electricity study
Data used in both papers: Underlying FERC Form1 data are available via link of the Energy Institute of University of Texas at Austin.
Highlights:
- We find that the number of customers in a utility's territory is the single best predictor for annual TD&A costs.
- Between 1994 and 2014, the average cost per customer was $119/Customer-Year for transmission, $291/Customer-Year for distribution, and $333/Customer-Year for utility administration.
- Total TD&A costs per customer have been approximately $700–$800/Customer-Year since 1960
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Thank you very much for your time. As always, please contact me for more information about how you can be involved in and contribute to my research program.
Sincerely,
Carey W. King, Ph.D.
Research Scientist, Energy Institute and Jackson School of Geosciences
Assistant Director, Energy Institute
Lecturer, McCombs School of Business
The University of Texas at Austin
careyking@mail.utexas.edu, 512.471.5468, careyking.com, @CareyWKing
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My research takes a systems approach to describe the role of energy and energy technologies in our past and future. This approach provides the best way to both address questions about our future economy and environment as well as understand how individual technologies can and cannot affect the macro-scale and long-run trends that will frame our future options. I seek understanding of the relationships among:
- energy resources and technologies,
- population demographics,
- water and food,
- macroeconomic factors, and
- implications of internalizing environmental externalities.
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