Given the design component it involves, financial engineering should be considered equal to conventional engineering. By adopting this complementary approach, financial models can be used to identify how and why timing is critical in optimizing return on investment and to demonstrate how financial engineering can enhance returns to investors. Metals and Energy Finance capitalizes on this approach, and identifies and examines the investment opportunities offered across the extractive industry's cycle, from exploration through evaluation, pre-production development, development and production. The textbook also addresses the similarities of a range of natural resource projects, whether minerals or petroleum, while at the same time identifying their key differences.This innovative textbook is clear and concise in its approach, and is illustrated throughout with case studies and exercises used at professional training sessions. As the sum of 45 years' international experience in industry and teaching mining geology, mineral exploration and mineral project appraisal, Metals and Energy Finance will be invaluable to both professionals and graduate students working in the field of mineral and petroleum business management.

This book brings together research into key aspects of the interconnections between Islam, crime and the criminal justice system in Britain, a particularly timely collection in the light of both the recent disturbances in several northern English cities as well as the impact of the events of 11 September 2001 and their aftermath. Chapters in the book focus on young Muslim men and criminal activity, Muslim women and their experiences of victimisation, the experiences of Muslim police officers, of Muslims in prison, issues of human rights in relation to Muslims in Britain, and the criminal justice policy implications of religious diversity. Main aims pursued through the book include issues of victimisation as perceived by Muslim communities, Muslim perspectives on crime and criminal justice, and ways of addressing issues of marginalisation and exclusion within Muslim communities. Overall the book provides an important contribution to debates over the role of Muslims in British society generally, as well as their experiences of and involvement in the criminal justice system and the policy implications that arise from this.

Regulation & Investments in Energy Markets: Solutions for the Mediterranean presents the status of advancement and maturity of the Mediterranean energy policy, identifying patterns of development as well as lessons learned. Mediterranean countries are facing unprecedented challenges in the energy sector which affect the entire region. Energy policy and regulation is the key to tackling energy efficiency challenges, and providing favorable conditions for engineering infrastructures, investments, and improving security of energy supply. The assumption that the normative model, on which the EC energy policy is based, could be adopted outside EU boundaries has proven to be difficult to implement. This book looks at the Mediterranean regions search for a revised model for regulatory convergence and provides answers to those research questions, allowing the reader to understand the different technical, institutional, and financial frameworks for energy policy.

Peacemaking and the Extractive Industries addresses a significant gap in research on the political and diplomatic role of multinational corporations in peace processes in intrastate conflict: Corporate Peacemaking. The author focuses on corporations in the oil and mining sectors, supporting or participating in peace negotiations and mediation. The chapters explore national-level peace processes, as well as those at community and global levels. While the focus is on extractive companies, the findings are valuable to companies from all industries looking at peace-related processes. This ground-breaking book gives a comprehensive picture of how Corporate Peacemaking currently works, how it can be developed and implemented, and how it is likely to impact global governance and corporate culture in the future. The book demonstrates that Corporate Peacemaking has the potential to be a powerful element in international governance and peace efforts; and Ralph shows through the business case that companies, as well as communities, will benefit. Ralph presents a new framework for Corporate Peace that will assist companies from all sectors in countries experiencing violent conflict, in addition to instability, human rights abuses and poor governance. Based on rigorous academic research with practical case studies, it is essential reading for practitioners, academics, policy-makers and NGOs.

Peacemaking and the Extractive Industries addresses a significant gap in research on the political and diplomatic role of multinational corporations in peace processes in intrastate conflict: Corporate Peacemaking. The author focuses on corporations in the oil and mining sectors, supporting or participating in peace negotiations and mediation. The chapters explore national-level peace processes, as well as those at community and global levels. While the focus is on extractive companies, the findings are valuable to companies from all industries looking at peace-related processes. This ground-breaking book gives a comprehensive picture of how Corporate Peacemaking currently works, how it can be developed and implemented, and how it is likely to impact global governance and corporate culture in the future. The book demonstrates that Corporate Peacemaking has the potential to be a powerful element in international governance and peace efforts; and Ralph shows through the business case that companies, as well as communities, will benefit. Ralph presents a new framework for Corporate Peace that will assist companies from all sectors in countries experiencing violent conflict, in addition to instability, human rights abuses and poor governance. Based on rigorous academic research with practical case studies, it is essential reading for practitioners, academics, policy-makers and NGOs.

East Asia is a key region in the global economy, including both the second and third largest global economies already and, led by China, continuing to expand at a rapid rate. This economic growth has led to unprecedented gains in prosperity in the region but it has also led to increasing environmental pressures and energy issues. This book assesses ways in which East Asia can continue or even increase existing rates of economic growth while at the same time reducing greenhouse gas emissions and other environmental degradation. Using advanced modelling approaches, future scenarios for four East Asian countries are assessed in detail, including analysis of particular challenges in each country (e.g. coal power in China, nuclear power in Japan). Prospects for each country's energy system are assessed in detail and the potential effects of various types of Environmental Tax Reform in the four countries are also considered carefully. The final section of the book explores the interaction between trade liberalization, a key driver of growth, and emission levels in the East Asia region.

The remarkable performance of the Chinese economy in the last three decades has placed China at the centre of the world stage. In 1993, China became a net importer of energy, although it was not until the early 2000s that the world began to pay more attention to China's energy needs and its potential impact on the world. With China's energy search occurring within a hegemonic global structure dominated by the United States, the US watches with interest as China enhances its ties with energy-rich states. The book examines this triangular relationship and questions whether the US and China are in competition regarding access to the energy of a third state, within the context of a potential power transition. It includes case studies on China's energy relationship with countries such as Canada, Australia, Saudi Arabia, Nigeria, Brazil, Kazakhstan, Iran, Sudan and Venezuela and aims to understand the way a rising power interacts with the existing leading power and the possible outcome of this competition. The analytical framework employed helps the reader to understand not only the nature and pattern of triangles among US, China and the Resource Rich States under 'resource diplomacy', but also the salient features of US-China competition around the world. Making an impressive contribution to the literature in fields such as US-China relations, international relations, Chinese foreign policy and global energy geopolitics, this book will appeal to students and scholars of these subjects.

What we call the nation's energy policy attempts to give direction to the production, use, transportation, and distribution of energy to help achieve an array of societal goals in the most compatible ways. In this title, originally published in 1993, noted analysts provide insight into complex policy issues of significant importance. Among the topics addressed are difficulties encountered in trying to fashion energy policy in the U.S. congress, the nature of energy policies and environmental polices, the challenges arising from regional conflict over energy policies, and the viability of deregulating electric power production. This collection of lectures is a valuable resource for students interested in environmental studies and public policy.

Recent developments like the rising trend in crude oil price, the international economic crisis, the civil revolts in Northern Africa and the Middle East, the nuclear threat in Japan after the tsunami, the oil spill in the Gulf of Mexico and the economic growth of emerging countries like China and India have a direct relation to the security of energy supply anywhere in the world. This book provides a comprehensive analysis of energy risks, energy scenarios and energy policies with special reference to the European Union and its member states, emphasizing the economic and geopolitical dimensions of energy security.

The book assesses both quantitatively and qualitatively the socioeconomic and political risks related to the European energy supply, together with the EU s energy relations with other countries. Two innovative indicators have been developed to estimate geopolitical energy risks and energy-related relations with other countries. The book also examines the process of convergence of member states energy security policies, the path towards a common European energy policy, and the process of Europeanization projected towards the energy corridors through which the EU receive energy imports. In addition, alternative strategic scenarios related to energy risk are assessed. Finally, guidelines for the EU s energy policy and new strategies using energy corridors are suggested in order to maximize EU s energy security.

The book should be of interest to students and researchers across a wide range of subjects, including energy economics and policy, energy and foreign policy in the EU, energy policies in EU member states and several aspects related to international political economy."

This book is an up-to-date primer covering the most important subjects in energy economics, with particular attention paid to oil, natural gas, and nuclear energy, and without an excessive amount of mathematics. The first three survey chapters constitute an introductory (and mostly non-technical) short course in modern energy economics. Most of the technical analysis is taken up in the following four chapters, while the last chapter is a completely non-technical summation that can be read independent of the rest of the book. Written in a user-friendly tone, it is suitable as a textbook for undergraduate and/or graduate students, but most of the book should be accessible to anyone with a serious interest in energy economics.

Corporate governance has become a household term and investors across the world are demanding more transparency and accountability from controllers of listed corporations. The current resources boom that has been driven by soaring demand from China has brought China's listed resources companies into focus. Some of these companies are beginning to be known internationally, such as Sinopec, PetroChina, CNOOC (in the oil industry) and CHALCO (aluminium); but their governance structures are often not well known. This book explores the corporate governance of these listed companies. Compared with the governance of global companies, such as BHP Billiton, Rio Tinto, Shell, Shevron, the governance of China's resources companies has special characteristics. While the authors focus is on the governance of resources companies in China, this book also tackles contemporary issues of resource security and environmental change which are closely related to the depletion of the world's natural resources. Case studies of other international resources giants such as BHP Billiton, Rio Tinto, Shell and Chevron are provided to enhance our understanding of the differences that exist between them and Chinese resources companies. This book will be of interest to the business community and to those readers who are interested in China and its governance related issues.

This handbook gathers state-of-the-art research on optimization problems in power distribution systems, covering classical problems as well as the challenges introduced by distributed power generation and smart grid resources. It also presents recent models, solution techniques and computational tools to solve planning problems for power distribution systems and explains how to apply them in distributed and variable energy generation resources. As such, the book therefore is a valuable tool to leverage the expansion and operation planning of electricity distribution networks.

In 1872 Yellowstone was established as a National Park. The name caught the public's imagination and by the close of the century, other National Parks had been declared, not only in the USA, but also in Australia, Canada, and New Zealand. Yet as it has spread, the concept has evolved and diversified. In the absence of any international controlling body, individual countries have been free to adapt the concept for their own physical, social and economic environments. Some have established national parks to protect scenery, others to protect ecosystems or wildlife. Tourism has also been a fundamental component of the national parks concept from the beginning and predates ecological justifications for national park establishment though it has been closely related to landscape conservation rationales at the outset. Approaches to tourism and visitor management have varied. Some have stripped their parks of signs of human settlement, while increasingly others are blending natural and cultural heritage, and reflecting national identities. This edited volume explores in detail, the origins and multiple meanings of National Parks and their relationship to tourism in a variety of national contexts. It consists of a series of introductory overview chapters followed by case study chapters from around the world including insights from the US, Canada, Australia, UK, Spain, France, Sweden, Indonesia, China and Southern Africa. Taking a global comparative approach, this book examines how and why national parks have spread and evolved, how they have been fashioned and used, and the integral role of tourism within national parks. The volume's focus on the long standing connection between tourism and national parks; and the changing concept of national parks over time and space give the book a distinct niche in the national parks and tourism literature. The volume is expected to contribute not only to tourism and national park studies at the upper level undergraduate and graduate levels but also to courses in international and comparative environmental history, conservation studies, and outdoor recreation management.

This is an easy-to-read textbook providing the reader with the basis to comprehend the major energy technologies from a physical and economical perspective.

The journey through the book begins with some background theory on the physics and economics of energy. Major energy technologies (fossil, nuclear and renewable) are explored in-depth, explaining how they work and the costs involved. Finally, the journey ends by exploring the technical and economic feasibility of supplying the world by 2050 with sustainable energy only.

Numerous examples are provided to allow the reader to relate important concepts to real-life. The reader s understanding of the material can then be tested using the exercises at the end of each chapter.

This textbook is the first to thoroughly present the physics and the economics of energy. It is intended for graduate students and practitioners interested in the field of energy. It also enables the general reader to distinguish between political statement and fact."

The challenges in Russia's energy sector are changing. On the demand side, Europe is seeking to limit its dependence on Russian oil and gas, with the result that China and other Asian countries are likely to eventually become growing export markets for Russian energy. On the supply side, oil and gas fields in West Siberia are diminishing and in future Russia's energy will have to come more from East Siberia and the Arctic, which will necessitate new infrastructure development and the employment of advanced technologies, which may increase Russia's dependence on commercial partners from outside Russia. This book explores the challenges facing Russia's energy sector and the resulting security implications. It includes a discussion of how far the Russian state is likely to continue to monopolise the energy sector, and how far competition from private and foreign companies might be allowed.

This volume examines energy security in a privatized, liberalized, and increasingly global energy market, in which the concept of sustainability has developed together with a higher awareness of environmental issues, but where the potential for supply disruptions, price fluctuation, and threats to infrastructure safety must also be considered. Part I commences with an essential introductory chapter which defines energy security and sets forth the key issues and themes of the book. There then follow several cross-cutting chapters which include sceptical analysis of energy security claims from an environmental perspective and a broader geopolitical analysis of energy security. Part II examines a wide variety of international, regional, and national approaches to energy security issues. Energy security concerns differ considerably from country to country, however most of the chapters examining particular nations provide an economic and historical context of their energy security concerns, followed by a detailed analysis of the legal provisions relating to each of the main energy sectors (oil, gas, coal, electricity, nuclear, and renewable energies). This entails examination of regulation, organization, and planning for security and other purposes. In a number of cases, energy security law is shaped by other factors such as market liberalization, environmental protection, and competition policy. Part III comprises two final chapters, the first contrasting the various national and regional approaches and analysing cross-cutting issues, whilst the concluding chapter forecasts future trends in the legal regulation of energy security.

This book sheds light on how global warming has caused the ongoing environmental disaster in the Arctic, namely its melting. This development, if left unabated, will have a major negative environmental impact, not only on the Arctic itself, but on the entire planet, including the worsening of global warming and rising sea levels. The latter is a major threat to all island countries and all countries having coastlines with open seas with major environmental, social, economic, political and military/security implications. The Arctic melting is bringing about challenges while opening doors for certain opportunities. These are the accessibility of the region's large oil, gas and coal reserves and minerals, including rare earth elements. They are in demand both in the Arctic littoral states (Canada, Denmark/Greenland, Norway, Russia and USA) and the Greater Arctic countries (Iceland, Finland and Sweden) as well as in other parts of the world. In particular, major oil and gas importers (China, India, Japan and South Korea) are interested in the Arctic energy resources, the main non-regional countries with a capability to engage in the region. The obvious importance of the regional energy and mineral resources makes the division of the region among the regional countries crucial. The melting of the Arctic ice will also lead to the availability for at least a few months a year of a Northern Sea Route and a Northwest Passage connecting Europe to North America and the North-Eastern part of Asia. The importance of these northern routes and the Arctic mineral and energy resources is contributing to a growing military presence of mainly the USA and Russia in this region, which could lead to an arms race. This book offers invaluable insights on the issues that have grave implications for energy security and geopolitics in the arctic.

Attracting private investment and delivery of services to the poor majority are two of the major goals for reforming and regulating the power sector in sub-Saharan Africa. This book believes the important determinants of new investment in the electricity industry are the licensing process and the tariff regime. If the licensing process is to attract private investors, the procedures must be clear and must function efficiently and transparently, and the tariff regime reflect actual costs. The rationale for attracting private investment is straightforward -- the inadequacy of existing power systems in the region to meet demand. In many countries, frequent power cuts linked to inadequate electricity generation capacity are the norm rather than the exception. The rationale for considering the plight of the poor is based on both ethical and sustainability considerations. In ethical terms, access to energy is a fundamental human right in the context of social justice. In sustainability terms, a reformed private-investor-dominated power sector that does not recognize the plight of the poor may represent sound economics yet prove to be socially and politically unsustainable. It is therefore necessary to ensure that the recommended regulatory reforms are sensitive to the needs of the poor majority. This volume examines the extent to which the twin goals of attracting investment and providing energy to the poor are addressed by the existing legal and regulatory framework. By studying six countries in the east and southern African region, some helpful lessons worth sharing with other African countries are learned.

The revised edition of this book captures new developments in economics and finance. Turning its focus towards the application of Engle's (1982) autoregressive conditional heteroscedasticity (ARCH) in cutting-edge research and a discussion of whether energy prices reflect long memory, this book will keep readers up-to-date with current developments in the literature. It presents twenty-one empirical studies of econometric time series analysis of crude oil, natural gas and electricity markets in face of the rapidly changing dynamics of the energy markets. Amongst them, several studies employ nonlinear time series methods, unlike the standard linear approach commonly used, to reflect the nonlinear nature of the economic system.Two new chapters are included, extending beyond the leading-edge research and innovative energy markets econometrics detailed in the first edition: Chapter 17 examines the effects of oil price changes and speculations on economic activity and Chapter 20 re-evaluates empirical evidence for random walk type behavior in energy futures prices using a statistical physics approach.

The key subjects of the book are policy imperatives, market dynamics and regional developments concerning oil and gas, as well as energy as a whole in China. In addition to national policies and issues, the objective of this book is to study China's regional oil and gas demand, supply and trade, energy balances, and economic development, with projections up till 2030. Particular emphasis will be given to challenges facing the Chinese government in ensuring future oil supplies, pipeline and liquefied natural gas (LNG) imports, energy security, downstream oil refining sector developments, the use of natural gas for power generation, and oil and gas related environmental issues. The impact of China's oil and gas sector developments, market dynamics, rising imports, and overseas investment on the Asia-Pacific region and the world at large are examined.Energy Economy in China also reviews current and future oil refining projects, gas pipelines, LNG import terminals, and emerging new markets in China over the next fifteen years.

An increase in major natural disasters-and the growing number of damaging events involving gas, electric, water, and other utilities-has led to heightened concerns about utility operations and public safety. Due to today's complex, compliance-based environment, utility managers and planners often find it difficult to plan for the action needed to help ensure organization-wide resilience and meet consumer expectations during these incidents. Emergency Planning Guide for Utilities, Second Edition offers a working guide that presents new and field-tested approaches to plan development, training, exercising, and emergency program management. The book will help utility planners, trainers, and responders-as well as their vendors and suppliers-to more effectively prepare for damaging events and improve the level of the utility's resilience. It also focuses on planning needed in the National Incident Management System and ICS environment that many utilities are embracing going forward. In doing so, utilities will be able to improve the customer experience while reducing the impact that damaging events have on the utility's infrastructure, people, and resources.

The book sheds understanding on the relations between development and global energy security by looking at China and India. It addresses the following issues: what is the new definition of energy security? How does it affect global politics and international relations? What are the energy security concerns of China and India, and what policies and approaches have they taken to deal with energy security issues? Since China and India are searching for oil and gas in the Middle East, Africa, and Southeast Asia, would their acquisition efforts conflict with the interests of other energy giants such as the U.S., Japan, and would their growing overseas activities challenge U.S. policy in those energy-rich regions? The book provides insight into what the new global energy order may be and how the growth models and energy structures may shape the economic growth and energy. It analyzes both the state-centered approach and market-oriented approach in the global quest for energy resources. It also examines how China and India can adopt a cooperative approach for beneficial relations. The book will be of interest to anyone who is keen to learn how the World especially U.S.A. can accomodate and adapt to the new global energy dynamics and on China and India as new players in global energy markets.

The "Fisher Investments On" series is designed to provide individual investors, students, and aspiring investment professionals the tools necessary to understand and analyze investment opportunities--primarily for investing in global stocks. Each guide is an easily accessible primer to economic sectors, regions, or other components of the global stock market. While this guide is specifically on Utilities, the basic investment methodology is applicable for analyzing any global sector, regardless of the current macroeconomic environment.

Following a top-down approach to investing, "Fisher Investments on Utilities" can help you make more informed decisions within the Utilities sector. It skillfully addresses how to determine optimal times to invest in Utilities stocks and which Utilities industries have the potential to perform well in various environments.

Divided into three comprehensive parts--Getting Started, Utilities Details, and Thinking Like a Portfolio Manager--"Fisher Investments on Utilities" Explains some of the sector's key macro drivers--like regulation, economic cycles, and investor sentimentShows how to capitalize on a wide array of macro conditions and industry-specific features to help you form an opinion on each of the industries within the sectorTakes you through the major components of the industries within the global Utilities sector and reveals how they operateOffers investment strategies to help you determine when and how to overweight specific industries within the sectorOutlines a five-step process to help differentiate firms in this field--designed to help you identify ones with the greatest probability of outperforming

Filled with in-depth insights, "Fisher Investments on Utilities" provides a framework for understanding this sector and its industries to help you make better investment decisions--now and in the future. With this book as your guide, you can gain a global perspective of the Utilities sector and discover strategies to help achieve your investing goals.

According to recent estimates, around 6,000 people - mostly children under five - die every day from diseases caused by inappropriate water and sanitation (WS) services. Much of the academic and political debate surrounding this issue has focused on private sector participation. By shifting the attention towards the influence of governance, Krause examines the political and sectoral institutions that are essential for the provision of WS services. Utilizing data from sixty-nine developing countries, Matthias Krause demonstrates that the level of democracy has a statistically significant positive impact on access to WS services and that low-quality governance of sub-national governments compromises the internal efficiency of providers and the widespread access to services. This book makes a critical contribution to the water and sanitation research and will help academics and policy-makers to rethink the way in which they deal with water issues.

Carbon capture and storage (CCS) has emerged rapidly as a crucial technological option for decarbonising electricity supply and mitigating climate change. Great hopes are being pinned on this new technology but it is also facing growing scepticism and criticism. This book is the first to bring together the full range of social and policy issues surrounding CCS shedding new light on this potentially vital technology and its future. The book covers many crucial topics including the roles and positions that different publics, NGOs, industry, political parties and media are taking up; the way CCS is organised, supported and regulated; how CCS is being debated and judged; how innovation, demonstration and learning are occurring and being conceptualised and promoted; and the role of CCS in the transition to a low carbon energy future. The authors draw on a variety of approaches, concepts, methods and themes and provide a new understanding of innovation in the energy and climate change fields. It tackles the many issues in a way that speaks to those concerned not only to understand these developments, but to those who are involved in the scientific and technological work itself, as well as those charged with evaluating and making decisions relevant to the future of the technology.