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Does your energy metric measure what you think it measures?

Thomas Norway, Olivier Cavalié

June 1, 2026

Energy Return on Investment (EROI) comes in three flavors, and they measure different things—not just by convention. Using oil, gas, and fossil fuel data from the U.S. and China, researchers show that the external variant (excluding self-consumed energy) correctly measures net energy surplus, while the others measure process efficiency instead. The distinction flips whether entire energy systems pass the threshold for viability.
Published as What Do EROIs Measure? Implications for Energy Transition Assessment arXiv:2606.02015
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