Title Page

Contents

Cover Page

Handbooks of Global Policy Series

Title Page

Copyright

Figures and Tables

Notes on Contributors

Introduction: Key Dimensions of Global Energy Policy

Energy as a Global Policy Field

Dimensions of Global Energy Policy

Organization of This Book

References

Part I: Global Energy: Mapping the Policy Field

Chapter 1: The Role of Markets and Investment in Global Energy

Introduction: A Political Economic Perspective on Energy Markets

A Northian Perspective on Resources, Institutions, Transactions, and Power

Energy Resources: The Paradigm Shift

Energy Institutions: A Pre-WTO World Meets Post-Modern Synthetic Markets

The Power Structure Influencing Energy Investments and Market Relations

Transactions Over Energy Resources: Energy Value Chains and Energy Markets

Conclusion

Notes

References

Chapter 2: The Entanglement of Energy, Grand Strategy, and International Security

Introduction

Energy, Security, and the Grand Strategy of Countries

Energy as an End/Objective of Grand Strategy

Energy as a Way/Tool of Achieving Security Objectives

Energy as a Means/Resource for National Security Strategies

Conclusion

Notes

References

Chapter 3: Sustainability, Climate Change, and Transition in Global Energy

Introduction

Global Energy Dilemmas

Global Energy Transitions

Conclusions

Note

References

Chapter 4: The Development Nexus of Global Energy

Introduction

Energy Poverty, Inequality, and Development

Energy Security, Food, and Water

Impact of Resource Extraction on Development in Producing Countries

Conclusions

References

Part II: Global Energy and Markets

Chapter 5: The Oil Market: Context, Selected Features, and Implications

Introduction

Projections and Uncertainty about Policy

Energy Security and Investment

The Climate Change Agenda

Taxation, Subsidies, and Rent Distribution

Oil Price Movements: Speculation versus Fundamentals

Increased Uncertainty and Limited Feedbacks

Conclusions

Notes

References

Chapter 6: Natural Gas Going Global? Potential and Pitfalls

A Brave New Gas World

Perfect Storm: European Eye

A (Very) Complex Pacific Game

Producer Competition over Markets and Models

Headwinds: Grabbing Defeat from the Jaws of Victory?

Who Gains? A Risky Transition

Conclusion

References

Chapter 7: The Breakout of Energy Innovation: Accelerating to a New Low Carbon Energy System

Introduction

Locking Out Risks

Innovation and Collaboration

Case Studies

Discussion: Innovating to Unlock Technology

Conclusion: Global Technology and Local Markets

References

Chapter 8: Recent Trends in Upstream Petroleum Agreements: Policy, Contractual, Fiscal, and Legal Issues

Introduction and Overview on Upstream Petroleum Contracts

Evolution of Upstream Petroleum Policies and Their Impact on E&P Contracts

The Main Forms of Upstream Agreements and Licenses and the Related Fiscal Regimes

Evolution of the Main Types of Upstream Agreements and Associated Fiscal Regimes

Evolution in E&P Fiscal Regimes: What Could Be a Fair Government Take?

Why Do Some E&P Contracts Contain a Fiscal Stabilization Clause?

Necessary Adaptation to Upstream E&P Contracts for Unconventional Petroleum

Conclusion and Suggestions for Fostering Future Upstream Developments

Notes

References

Chapter 9: National Oil Companies: Ensuring Benefits and Avoiding Systemic Risks

Introduction

Roles and Responsibilities

Governance and Transparency

Assessment and Outlook

Notes

References

Part III: Global Energy and Security

Chapter 10: Global Resource Scramble and New Energy Frontiers

Introduction: Oil Schizophrenia

The “Peak Oil” Controversy

The Sources of Controversy

Oil Supplies are Dynamic

The Erroneous Economics of “Peak Oil”

Prices Matter

A Question of Market Power

Technology Matters

Policies Matter

The Perilous Politics of Peak Oil

New Perspectives for Oil Policies and Strategies

Note

References

Chapter 11: Cooperation and Conflict in Oil and Gas Markets

Introduction

Patterns of Conflict and Cooperation

The History of Cooperation and Conflict in the International Oil Market

Cooperation and Conflict in the Present Oil and Gas Markets

The Future of Cooperation and Conflict in Global Energy Markets

Notes

References

Chapter 12: The “Gs” and the Future of Energy Governance in a Multipolar World

Introduction

History of the Gs and International Energy Policy

How Has the G20 Done?

The Changing Global Energy Landscape

What Do These Changes Mean for the Future of the “Gs” and Energy Policy?

Notes

References

Chapter 13: Nuclear Energy and Non-Proliferation

Introduction

Nuclear Energy: Past, Current, and Future

Fissile Materials and Dual-Use Nature of Nuclear Technology

The Global Nuclear Non-proliferation Regime

Need for New Institutional Mechanisms

Conclusions

Notes

References

Part IV: Global Energy and Development

Chapter 14: Energy Access and Development

Introduction

Overview of the Energy Access Problem

Examining Current Approaches to Enhance Energy Access

Experience of Providing Clean Cooking Energy Access in Developing Countries

Policy Imperatives and Options

Conclusion

Notes

References

Chapter 15: Resource Governance

Introduction

Resource Governance

The Natural Resource Value Chain: A Framework for Managing Oil, Gas, and Mineral Resources

Policies for Improved Resource Governance

Conclusion

Notes

References

Chapter 16: The “Food Versus Fuel” Nexus

Introduction

Biofuel Policies: Rationales and Risks

Biofuels and Food Prices

Biofuels and Development

Policy Options

Conclusion

References

Chapter 17: Energy Efficiency: Technology, Behavior, and Development

Introduction

Energy Efficiency: Need to Focus on Socio-Technical System Transition

Energy Efficient Technology Adoption: Cases from Indian Industries

Energy Efficient Technology Adoption Feedback: Cases from Indian Energy End Users

Conclusion

Notes

References

Part V: Global Energy and Sustainability

Chapter 18: Regulation, Economic Instruments, and Sustainable Energy

Introduction

Energy Policy in the Nation State: Toward an Energy Revolution?

Economic Incentives

Regulation

Conclusion

Notes

References

Chapter 19: The Role of Regulation in Integrating Renewable Energy: The EU Electricity Sector

Introduction

The Internal Energy Market and Renewable Electricity in The EU

Security of Supply

Network Planning in the European Union

Congestion Management

Relevancy for Emerging and Developing Economies

Notes

References

Chapter 20: Global Climate Governance and Energy Choices

Introduction

The International Climate Change Regime and Energy Policy

Climate Governance Beyond the International Climate Regime

Interlinkages Between the Global Climate Regime and Other Global Governance Institutions

Conclusion

References

Chapter 21: The Growing Importance of Carbon Pricing in Energy Markets

Introduction

Carbon Market: Snapshot and Mechanics

The EU Emissions Trading Scheme

Other OECD Countries

Emerging Economies

Voluntary Carbon Markets

Implications of a Patchwork of Regional Emissions Markets

Conclusion

Notes

References

Chapter 22: The Influence of Energy Policy on Strategic Choices for Renewable Energy Investment

Introduction

Current Insights on the Policy–Investment Nexus

Conceptualizing Strategic Choices for Renewable Energy Investment

Conclusion: A More Nuanced Picture of Renewable Energy Policy and Investment

Further Research

Note

References

Part VI: Regional Perspectives on Global Energy

Chapter 23: Global Energy Policy: A View from China

Introduction

The Costs of China’s Growing Energy Use

China’s Increasing Dependence on and Influence in International Energy Markets

China’s Motivations, Policies, and Challenges in Addressing Climate Change and Pursuing Clean Energy

Reforming China’s Energy Regulatory System and Market Structure

Conclusion

Note

References

Chapter 24: Dismounting the Subsidy Tiger: A Case Study of India’s Fuel Pricing Policies

Introduction

Evolution of India’s Petroleum Industry

Moving from State Monopoly to Market

The Subsidy Juggernaut

Fuel Subsidies: Devil in the Details

Petroleum Sector as Milch Cow

Perverse Outcomes

Dismounting the Subsidy Tiger

Conclusion: Implications for Global Energy Policy

Notes

Chapter 25: The EU’s Global Climate and Energy Policies: Gathering or Losing Momentum?

Introduction

Domestic Doubts?

Global Climate Funding

Global Partnerships for Renewables Technology

Energy Security Versus Climate Change?

The Regulatory Approach: Bad for Climate Policy?

Conclusion

Notes

References

Chapter 26: Energy Governance in the United States

Introduction

Seven Historic Guiding Principles

Shifts in Seven Historic Principles

Current Governance Challenges

Interactions with Global Energy Governance

Conclusion

Notes

References

Chapter 27: Global Energy Policy: A View from Brazil

Introduction

Renewables Worldwide

Energy in Brazil

Brazil’s Experience in Energy Access and Poverty Alleviation

Proposal of Policies for Sustainable Growth in Other DCs Based on Brazilian Experience

Conclusion

Notes

References

Chapter 28: Global Oil Market Developments and Their Consequences for Russia

Introduction

Hubbert’s Curves and Oil Market Structures

Left-Upward Wing of Hubbert’s Curve: Evolution from Physical to Paper Oil Markets

Who Determines the Oil Price? From Seven Sisters to OPEC to Non-Oil Speculators

Paper Oil Market: Non-Oil Speculators Begin to Play the Key Role

US Role in Damaging and Repairing Global Oil Futures/Commodities Markets

Economic Limits of Oil Price Fluctuations (Floor and Ceiling Benchmarks)

Historical Conclusions for Russia

Russian Energy Policy: Adaptation Is Needed

References

Chapter 29: Nigeria: Policy Incoherence and the Challenge of Energy Security

Introduction

Policy-Making and Energy Security: The Early Years

Intimations of a Future Storm

The Years of Turmoil, 1990–2006

The Graveyard of Incoherent Policies

Conclusion

References

Conclusion: Global Energy Policy: Findings and New Research Agendas

Index

Handbooks of Global Policy Series


Series Editor
David Held
Master of University College and Professor of Politics and International Relations at Durham University

The Handbook of Global Policy series presents a comprehensive collection of the most recent scholarship and knowledge about global policy and governance. Each Handbook draws together newly commissioned essays by leading scholars and is presented in a style which is sophisticated but accessible to undergraduate and advanced students, as well as scholars, practitioners, and others interested in global policy. Available in print and online, these volumes expertly assess the issues, concepts, theories, methodologies, and emerging policy proposals in the field.



Published


The Handbook of Global Climate and Environment Policy
Robert Falkner


The Handbook of Global Energy Policy
Andreas Goldthau


The Handbook of Global Companies
John Mikler

Title Page

Figures and Tables

Figures

4.1 Global CO2 emissions from fossil-fuel burning, 1800–2008.

4.2 Per capita energy consumption versus HDI, 2008.

4.3 Food and energy prices.

5.1 Average daily open interest in crude oil futures on US exchanges.

7.1 Types of energy innovations and examples.

11.1 European countries’ dependency on Russian gas supplies, 2006.

12.1 Energy demand in US, China, and India, 2009–2035.

12.2 Current and potential US oil imports, 2010 and 2020.

12.3 Rate of subsidization of fossil-fuel consumption, 2010.

12.4 Middle East growth in oil demand relative to world oil demand growth.

13.1 Overlap of nuclear energy and nuclear weapons production cycles.

14.1 Major concentration of population without access to electricity, 2009.

14.2 Distribution of lack of cooking energy access in the world, 2009.

14.3 Share of different cooking fuels in developing countries, 2007.

14.4 Cooking energy access versus population below poverty line.

15.1 Resource-dependent countries.

15.2 Counter-cyclical and pro-cyclical fiscal policy in four oil-dependent countries.

15.3 Effect of an expenditure or revenue rule.

15.4 One and two fund approaches to managing resource revenues.

15.5 Typical resource revenue management system.

16.1 Typical GHG savings of biofuels ignoring emissions from land-use change.

16.2 Global ethanol production, 2010.

16.3 Global biodiesel production, 2010.

16.4 FAO Food Price Index, 2004–2011.

16.5 Low stocks increase volatility.

17.1 Energy efficiency: “technology–user” complex interconnectedness.

17.2 SEC reduction scenarios for iron and steel industries in India.

17.3 Transition profile of iron and steel industries in India.

17.4 Falling energy intensity of cement industry in India.

17.5 Process technology transition profile of Indian cement industries.

17.6 Decomposition of increase in total energy use in the world.

17.7 Decomposition of increase in energy use in Indian industries.

17.8 Illumination for case study I: proportion of operating load in lighting for pre- and post-action year.

17.9 Space cooling for case study I: proportion of operating load in pre- and post-action year.

17.10 Illumination for case study II : proportion of operating load in pre- and post-action year.

21.1 Selection of emissions trading programs and developments worldwide.

22.1 Global new investment in clean energy, 2004–2010.

22.2 A simple model of renewable energy policy and investment.

22.3 Segmentation of financial investors along the innovation chain.

22.4 A more nuanced model of renewable energy policy and investment.

23.1 GDP and energy consumption growth rates.

23.2 China’s natural gas imports and dependence on foreign sources, 2006–2011.

26.1 Average residential price of electricity in the US, 1892–1970.

27.1 Primary energy in the world, 2009.

27.2 The role of biomass in the world’s energy supply, 2008.

27.3 Average annual growth of renewable energy, 2004–2009.

27.4 Final energy consumption in the world, 2009.

27.5 Brazilian energy supply, 2010.

27.6 Electric energy supply in Brazil, 2010.

27.7 Energy consumption in transportation sector in Brazil, 2010.

27.8 Energy consumption in Brazilian residential sector, 2010.

27.9 Evolution of Brazilian installed capacity excluding hydro.

27.10 Firewood, LPG, and electricity consumption in Brazil.

28.1 Oil and gas Hubbert’s curves: upward-right supply peak movements.

28.2 Evolution of oil and gas markets: correlations of development stages, contractual structures, and pricing mechanisms on the left (up-going) wing of Hubbert’s curve.

28.3 Evolution of duration of oil transactions within the time-frame.

28.4 Historical evolution of contractual structure of the global oil market and its correlation with key organizational forms of market space.

28.5 Role of non-oil speculators (global “financial investors”) in forming a “price bubble” in the global oil market, 2007–2008.

28.6 Crude oil: prices and costs, expectations and facts.

28.7 The share of crude oil in global GDP based on actual price and on break-even price for Saudi Arabian non-deficit budget.

28.8 Oil price balancing the Russian budget (with and without “corruption tax”) and “fair oil price.”

Tables

3.1 Cumulative emissions from fossil fuels, 1850–2002.

3.2 Key indicators by major world region.

3.3 Changes in the global primary energy mix, 1800–2008.

4.1 Africa’s energy exporters and their populations’ access to energy.

5.1 Share of fuel in the world’s primary energy balance, 2010.

11.1 Ownership shares in Middle East production distributed by companies, 1972.

11.2 Gas consumption and trade, 2010.

14.1 Level of electrification in various regions, 2009.

14.2 Reliance on biomass for cooking energy needs, 2009.

14.3 Expected number of people without electricity and cooking energy access, 2030.

15.1 Selected natural resource funds.

17.1 Growth accounting for energy intensive sectors in India, 1994–2008.

17.2 Bias in technological progress of Indian manufacturing industries, 1973–2008.

17.3 Inter-factor substitutability of inputs, 1973–2008.

17.4 Own price elasticity of inputs in Indian manufacturing industries.

17.5 Ranges of rebound effect.

19.1 Classification of congestion management methods.

23.1 China’s top 10 sources of crude oil, 2011.

23.2 China’s top 7 sources of imported natural gas, 2010.

24.1 Central Government of India revenues versus subsidies in the petroleum sector.

27.1 Share of primary energy sources in different regions and in Brazil.

27.2 Number and share of people without access to modern energy services in selected countries, 2008.

27.3 Domestic supply of energy in Brazil, 2010.

27.4 Forecast of electric energy supply in Brazil, 2010–2030.

27.5 Renewable and thermo energies in the production of electricity in Brazil.

27.6 Evolution of Brazilian bioelectricity supply potential.

27.7 Total consumption of energy and energy efficiency in Brazil.

27.8 Energy access rates in urban households in Brazil in 2010.

27.9 Discounts included in the Electric Power Social Tariff.

27.10 Brazilian domestic energy consumption by source of energy.

28.1 Evolution of pricing mechanisms in the international oil market.

28.2 Characteristics of spot, forward, futures, and options deals.