The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Energy Economics

  • Robin Sickles
  • Hillard G. Huntington
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_663

Abstract

Energy economics studies energy resources and energy commodities. It includes forces motivating firms and consumers to supply, convert, transport, use energy resource; market and regulatory structures; distributional and environmental consequences; economically efficient use. The fact that energy use is dominantly depletable resources, particularly fossil fuels, makes this study unique. The energy industry has moved into the 21st century with promises of both profits and a short-term future. With added pressure from government, cleaner fuels are being introduced on a continual basis. Additionally, the expanding energy demand from developing countries is changing the energy market.

Keywords

Conservation Depletable resources Derived demand Dynamic models Ecological economics Energy economics Energy policies Environmental economics Essential goods Framework Convention on Climate Change Intertemporal choices Kyoto protocol Oil Organization of Petroleum Exporting Countries Renewable resources Strategic petroleum reserve (USA) 

JEL Classifications

Q4 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Robin Sickles
    • 1
  • Hillard G. Huntington
    • 1
  1. 1.