Energy is a key resource for transformational development globally. Oil and gas continue to play a key role in this sector irrespective of the gradual transition towards renewables and will continue to do so in most developing and emerging economies in the near future. The industry is complex and highly capital intensive with significant risk, but also with significant benefits. Such a complex but important sector is generally not well understood both in academic and policy circles. This book fills this void by serving as a comprehensive reference to the oil and gas sector, with a focus on emerging markets and developing economies (EMDEs). It offers in-depth coverage of the critical and contemporary issues in the economics of oil and gas industry by carefully integrating the relevant theoretical underpinnings and practical policy issues across the value chain of the industry in relation to the development, fiscal arrangements, and the economic and financing aspects of the industry. These insights will significantly deepen the understanding of the industry and extend the knowledge of the sector in ways that existing books do not. The book includes relevant cases and thus, will serve as a valuable resource for students taking courses in market analysis of the oil and gas industry, energy economics, development economics and finance, environmental and resource economics, the political economy of the extractive industry and development studies. Researchers and practitioners working in these areas will also find the book to be a useful reference guide.

This book shows, we believe, the breadth and the complexity of issues that econo mists now tackle in their analysis of the connections between the ecosystem and the economic system. The book offers contributions to such disparate issues as the value of preserving the wolf in Sweden and the proper distribution of permits in an effective global warming treaty. Because these questions remain at the fore front of important resource allocation problems that need to be confronted, it is only appropriate that they are represented in a book that intends to paint a picture, albeit certainly incomplete, of the vibrant and progressing state of environmental economics. The contributions cover five areas of environmental economics: policy instru ments, cost-benefit analysis, cost-efficiency, contingent valuation and experimental economics. Each area is worthy of a book by itself, but here we have made a point of focusing on problems that seem directly applicable to the pressing policy issues of today. Thus, the contributors address topics that are directly relevant to interna tional and regional policy making, as well as those that are linked to development of supporting information systems (e.g. resource accounting). In addition, the con tributions seek to provide high-level applications of measurement techniques as well as pertinent critiques of these methods. The next section provides a summary overview of the book."

This book shows, we believe, the breadth and the complexity of issues that econo mists now tackle in their analysis of the connections between the ecosystem and the economic system. The book offers contributions to such disparate issues as the value of preserving the wolf in Sweden and the proper distribution of permits in an effective global warming treaty. Because these questions remain at the fore front of important resource allocation problems that need to be confronted, it is only appropriate that they are represented in a book that intends to paint a picture, albeit certainly incomplete, of the vibrant and progressing state of environmental economics. The contributions cover five areas of environmental economics: policy instru ments, cost-benefit analysis, cost-efficiency, contingent valuation and experimental economics. Each area is worthy of a book by itself, but here we have made a point of focusing on problems that seem directly applicable to the pressing policy issues of today. Thus, the contributors address topics that are directly relevant to interna tional and regional policy making, as well as those that are linked to development of supporting information systems (e.g. resource accounting). In addition, the con tributions seek to provide high-level applications of measurement techniques as well as pertinent critiques of these methods. The next section provides a summary overview of the book."