States and Markets in the Energy Sector
8th November 2007 presentation
Ensuring the sustainability and reliability of the global energy economy is a matter of
increasing concern. Prices have risen and have become more volatile, reliance upon
internationally traded energy is increasing, and there are fears that the speed of resource
development and investments along the energy value chain may not be sufficient to meet
future demand at affordable price. The lack of a consensus about specific policies to
address climate change raises questions about the development path of fossil fuels and the
role of specific fossil fuels.
In meeting these challenges, a first step is to recognise the ways that international energy
markets are changing and to understand the underlying reasons.