Is Natural Capital Really Substitutable?

The extent to which natural capital can be substituted with manufactured or human capital in production is a key determinant of the possibility of long-run sustainable economic development. We review empirical literature pertaining to the degree of substitutability between natural capital and other forms of capital. We find that most available substitutability estimates do not stand up to careful scrutiny. Moreover, accurate substitutability estimates are even more difficult to produce for unpriced or mispriced resources. Finally, we provide evidence from industrial energy use, and agricultural land use, that suggests substitutability of natural capital with other forms of capital may be low to moderate.

Energy Management for Compressed Air in Cement Industry using Lean Principle

Energy is an ultimate source for performing any activities. It is defined as capacity or power to do work, such as the capacity to move an object by the application of force. Energy can exist in a variety of forms such as electrical,mechanica l,chemical,thermal.Energy will not be generated but it can be transformed from one from to another. Energy resources are limited India has approximately 1% of world energy resources but it has 16% of world population. The industrial sector comprised 51% of global delivered energy use in 2007 and grows by an average annual 1.3% over the projection[worrell Ernst 2004].Approximately half of all industrial energy use is used in specific processes in the energy intensive industries. Compressors are the devices plays major role in every process industries and also a one of the major power consuming area. This paper seeks to identify and eliminate routine wastes which causes higher energy consumption in cement process industry(ULTRA TECH CEMENTS-RDCW) by using suitable layou