• Table of Contents
    • Abstract
    • Keywords
    • Article
      • Demand for energy
        • Elasticity of energy demand
        • Demand substitution between energy commodities and others
      • Energy supply
        • OPEC
        • Future energy supply
      • Forecasts of the energy markets
      • Energy policies
      • Effects of energy demand
        • Energy and macroeconomics
        • Energy, economy and environment
      • A concluding comment
    • See Also
    • Bibliography
    • How to cite this article

energy economics

Robin Sickles
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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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.
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How to cite this article

Sickles, Robin. "energy economics." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 13 December 2017 <http://www.dictionaryofeconomics.com/article?id=pde2008_E000082> doi:10.1057/9780230226203.0474

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