We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
Published online by Cambridge University Press: 06 November 2020
This chapter is devoted to one of the commodity groups, energy, and there are at least four reasons for affording a special prominence to this commodity group. The first is the heavy dominance of energy raw materials in the commodities universe. This is true both for trade and for the contribution they make to GDP. The second reason is that supply scarcities led to an extraordinary price increase for oil in the past 40 years, and its causes warrant an explanation. The third reason is that fundamental changes are occurring in oil and gas production technologies that promise to replace historical scarcity of supply and high prices with abundance. The fourth reason is the general perception that the energy system is going through a transition toward low carbon sources, due to technical advances in non-fossil energy alternatives as well as policy efforts to hinder climate change. The four reasons that make energy special also provide the structure of the chapter.
To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.
