The Palgrave Handbook of International Energy Economics

Abstract

The Handbook of International Energy Economics is an exhaustive compendium of the main economic issues related to the energy sector. In a constantly evolv- ing world, our societies face unprecedented challenges, which will have to be tackled in the decades to come. Climate change ranks high among such chal- lenges, and the transition to a low-carbon future will require deep changes to the way we produce, distribute and trade energy. This will have several implica- tions on our economy, which need to be explained, understood and discussed. It is therefore timely that we shed light on the complexities surrounding the energy transition, as well as on the ongoing transformations affecting the energy industry. This Handbook represents an important step in the right direction. The book provides a comprehensive and easily accessible reference on the structural economic aspects influencing energy policies and their out- comes. By gathering the contributions of leading experts in the field, it delves into some underlying economic factors that are unlikely to change in the short- to-medium term, emphasizing the economic consequences and trade-offs of the technological solutions currently available. The analysis takes stock of all the technologies composing today’s energy sector, avoiding an a priori selection between “old” and “new” sources. This all-inclusive approach allows for a thorough assessment of the economics of the different solutions, highlighting the advantages and disadvantages of alterna- tive options against the backdrop of the United Nations Sustainable Development Goals (SDGs). It also offers a punctual analysis of energy mar- kets, illustrating their organization and price discovery processes, as well as some global trends that may influence future supply and demand patterns. Furthermore, the Handbook has the merit of showing the inherent tension between the global and local dimensions of the energy transition. On the one hand, it recognizes climate change as a global issue, calling for international cooperation and dialogue with a view to promoting a common response from the international community. On the other hand, it underlines the limitations of “one-size fits all”-type solutions.