Jevons Paradox
From ESER oil and gas
- Technological progress that increases the efficiency with which a resource is used, tends to increase (rather than decrease) the rate of consumption of that resource. In addition to reducing the amount needed for a given output, improved efficiency lowers the relative cost of using a resource – which increases demand.
- Improvements in energy-efficiency are more likely to increase aggregate consumption of oil and natural gas, rather than to decrease consumption.
Links
- Hydrocarbon Business Glossary