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States and Markets in Hydrocarbon Sectors
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Markets, technologies, and policies constantly evolve at different levels in various countries, and this has led us to analyse these aspects as the drivers of energy policies. All have a policy and regulatory impact on market structures, which further stimulates technological development. It is noteworthy that the causes of the energy transition may either stem from the state or from market forces. Therefore, interaction between the state and the market is a key topic when analysing the hydrocarbon sectors.
The importance of the interaction between the state and the market has been repeatedly stressed, albeit without comprehensive theoretical analysis. For instance, a number of policy-oriented questions have emerged in the past decades regarding the oil and gas industries. The key questions include, among others, the following: can the state influence the hydrocarbon markets to its own advantage by limiting the effects of interdependencies? Or, can we argue that the interests of energy- producing states are inherently in conflict with those which import energy? Do the markets provide stability while states need only to ensure their predictability? This leads us to debate the very essence of the interaction between the state and the market and how this varies on a regional basis.
The key aim of this book is to demonstrate that processes related to energy transitions are related to the nature of the interaction between the state and the market and that these are not linked in a linear fashion to the structural issues of reserve distribution or supply and demand levels. The importance of structural factors is not underestimated, but the book attempts to understand the institutional causes for energy transitions in time and in space.
Andrei V. Belyi and Kim Talus - Personal Name
1st Edtion
978–1–137–43406–7
NONE
States and Markets in Hydrocarbon Sectors
Economics
English
Palgrave Macmillan
2015
USA
1-293
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