That sounds about right. Basic thermodynamics. I must have mentioned the Carnot cycle when people here debated about ICE theoretical efficiency years ago. Looks like it is still not well understood. It is actually less than that if the energy/emissions of production and refining fossil fuels are taken into account. Figure on roughly 1 unit burned to get 2 units of fuel. Worse for some sources such as tar sands.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.