The Handbook of Natural Resource and Energy Economics examines the current theory and sample current application methods for natural resource and energy economics. This third volume deals primarily with non-renewable resources. It analyzes the economics of energy and minerals, and includes chapters on the economics of environmental policy. The Handbook provides a source, reference and teaching supplement for use by professional researchers and advanced graduate students. The surveys summarize not only received results but also newer developments from recent journal articles and discussion papers.

Extensively revised and updated, this popular text presents an accessible yet rigorous treatment of environmental and natural resources economics, including climate change and the economics of sustainability. Completely revised and updated, the fourth edition now includes new figures and tables, definitions to assist the reader, and updated policy information. New advances in the science, economics and policy approaches to climate change have been integrated into essentially all-new chapters on incentive regulation and global climate change. This innovative textbook integrates economics with science and public policy in a balanced and accessible way that will be appreciated by students from disciplines ranging from economics and natural resources management to environmental studies and energy policy.

"This book is important and timely, bringing together some of the world's leading economists. The theory chapters provide new insights and apply new developments in contract theory to the problems of natural resources and credible host country policies. The case studies provide up-to-date illustrations of the difficulties and development of host country policy in Latin America and the UK." Roderick Duncan, Charles Sturt University, Australia "This book is likely to become a standard reference in the area of natural resources and credible host country policies-coming, as it does, with a solid grounding in modern economic theory." Tim Worrall, University of Manchester Volatility in commodity prices has been accompanied by perpetual renegotiation of contracts between private investors in natural resource production and the governments of states with mineral and energy wealth. When prices skyrocket, governments want a larger share of revenues, sometimes to the point of nationalization or expropriation; when prices fall, larger state participation becomes a burden and the private sectoris called back in. Recent and newsworthy changes in the price of oil (which fell from an all-time high of $147 in mid-2008 to $40 by year's end) are notable for their speed and the steepness of their rise and fall, but the up-and-down pattern itself is not unusual. If the unpredictability of commodity prices is so predictable, why do contracts not allow for this with mechanisms that would provide a more stable commercial framework? In The Natural Resources Trap, top scholars address this guestion in terms of both theory and practice. Theoretical contributions range across a number of fields, from contract theory to public finance, and treat topics that include taxation, royalties, and expropriation cycles. Case studies examine experiences in the U.K., Bolivia, Argentina, Venezuela, and other parts of the world. --Book Jacket.

Every decision about energy involves its price and cost. The price of gasoline and the cost of buying from foreign producers; the price of nuclear and hydroelectricity and the costs to our ecosystems; the price of electricity from coal-fired plants and the cost to the atmosphere. Giving life to inventions, lifestyle changes, geopolitical shifts, and things in-between, energy economics is of high interest to Academia, Corporations and Governments. For economists, energy economics is one of three subdisciplines which, taken together, compose an economic approach to the exploitation and preservation of natural resources: energy economics, which focuses on energy-related subjects such as renewable energy, hydropower, nuclear power, and the political economy of energy resource economics, which covers subjects in land and water use, such as mining, fisheries, agriculture, and forests environmental economics, which takes a broader view of natural resources through economic concepts such as risk, valuation, regulation, and distribution Although the three are closely related, they are not often presented as an integrated whole. This Encyclopedia has done just that by unifying these fields into a high-quality and unique overview. The only reference work that codifies the relationships among the three subdisciplines: energy economics, resource economics and environmental economics. Understanding these relationships just became simpler! Nobel Prize Winning Editor-in-Chief (joint recipient 2007 Peace Prize), Jason Shogren, has demonstrated excellent team work again, by coordinating and steering his Editorial Board to produce a cohesive work that guides the user seamlessly through the diverse topics This work contains in equal parts information from and about business, academic, and government perspectives and is intended to serve as a tool for unifying and systematizing research and analysis in business, universities, and government

An introduction to the concepts and tools of natural resource economics, including dynamic models, market failures, and institutional remedies. This introduction to natural resource economics treats resources as a type of capital; their management is an investment problem requiring forward-looking behavior within a dynamic setting. Market failures are widespread, often associated with incomplete or nonexistent property rights, complicated by policy failures. The book covers standard resource economics topics, including both the Hotelling model for nonrenewable resources and models for renewable resources. The book also includes some topics in environmental economics that overlap with natural resource economics, including climate change. The text emphasizes skills and intuition needed to think about dynamic models and institutional remedies in the presence of both market and policy failures. It presents the nuts and bolts of resource economics as applied to nonrenewable resources, including the two-period model, stock-dependent costs, and resource scarcity. The chapters on renewable resources cover such topics as property rights as an alternative to regulation, the growth function, steady states, and maximum sustainable yield, using fisheries as a concrete setting. Other, less standard, topics covered include microeconomic issues such as arbitrage and the use of discounting; policy problems including the “Green Paradox”; foundations for policy analysis when market failures are important; and taxation. Appendixes offer reviews of the relevant mathematics. The book is suitable for use by upper-level undergraduates or, with the appendixes, masters-level courses.

Examining the role human rights can play in the regulation of natural resource management, this book shines light on the duties of states and private actors when exploiting natural resources and the procedural rights of affected citizens.

Struggles over precious resources such as oil, water, and land are increasingly evident in the contemporary world. States, indigenous groups, and corporations vie to control access to those resources, and the benefits they provide. These conflicts are rapidly spilling over into new arenas, such as the deep oceans and the Polar regions. How should these precious resources be governed, and how should the benefits and burdens they generate be shared? Justice and Natural Resources provides a systematic theory of natural resource justice. It argues that we should use the benefits and burdens flowing from these resources to promote greater equality across the world, and share governance over many important resources. At the same time, the book takes seriously the ways in which particular resources can matter in peoples lives. It provides invaluable guidance on a series of pressing issues, including the scope of state resource rights, the claims of indigenous communities, rights over ocean resources, the burdens of conservation, and the challenges of climate change and transnational resource governance. It will be required reading for anyone interested in natural resource governance, climate politics, and global justice.

Revenues from commodities are extremely important for Latin America and the Caribbean, yet there is very little literature on the structure of these industries and on the various ways in which the state obtains commodity revenues. This book aims to understand the trade-off between the degree of taxation overall, the profitability of the relevant industry and the amount of investment and subsequent production in the region, as well as the relevance of institutions in the performance of the sector. This volume focuses on economic efficiency: where Latin America stands in terms of the current tax system for the extractive sector; how policies have changed in this regard; and how policies may be improved. The Economics of Natural Resources in Latin America is timely, since this new era of lower and volatile prices and possible reconfiguration of investment flows poses a challenge to natural resource tax systems in the world. The argument of the book will be made by a collection of papers around the issue of tax efficiency in the region and concludes with chapters on institutions and the role of transparency. This book shows that there are varieties of experiences in resource taxation and management of revenues in Latin America that could be used to shape policy interventions in other regions. This variety is not only related to their diverse impact on welfare, but also on the policy challenges faced by the countries in the region. This volume is well suited for those who study and find interest in development economics, political economy and public finance, as well as policy

The tools of environmental economics guide policymakers as they weigh development against nature, present against future, and certain benefits against uncertain consequences. The policies and research findings explained in this textbook are relevant to decisions made daily by individuals, firms, and governments. This textbook offers instructors and students a user-friendly, relevant, and up-to-date introduction to these topics while covering recent advancements in the field and significant political and economic changes. The fifth edition has been thoroughly updated while retaining the story-based narratives and visual emphasis of previous editions, capturing students’ attention with full-color photos, graphs, and illustrations. It addresses the impact of changes in world leaders, national priorities, and international agreements along with key developments in the energy sector. These include the way hydraulic fracturing and the surging popularity of natural gas have revolutionized the fossil fuel industries; how new, green-energy technologies are bringing prices down and efficiency levels up; and the arrival of innovative energy sources such as ocean-thermal energy conversion. Environmental Economics and Natural Resource Management promotes environmental and economic literacy with policy-oriented, application-based content, all delivered in concise, accessible discussions. Through its engaging approach, the text brings the economic way of thinking into discussions of personal, community, corporate, and government activities that affect environmental assets and the quality of life.

This edited volume explores the link between natural resources and civil conflict, focusing especially on protest and violence in the context of mining and the extraction of minerals. The primary goal of the book is to analyze how the conflict-inducing effect of natural resources is mediated by inequality and grievances. Given the topicality of the current boom in mining, the main empirical focus is on non-fuel minerals. The work contains large-N studies of fuel and non-fuel resources and their effect on conflict. It presents case studies focusing on Zambia, India, Guatemala, and Burkina Faso, which investigate the mechanisms between the extraction of natural resources and violent conflict. Finally, the book provides a summary of the previous analyses.