Global Energy Governance: The New Rules of the Game

The global market for oil and gas resources is rapidly changing. Three major trends—the rise of new consumers, the increasing influence of state players, and concerns about climate change—are combining to challenge existing regulatory structures, many of which have been in place for a half-century. Global Energy Governance analyzes the energy market from an institutionalist perspective and offers practical policy recommendations to deal with these new challenges. Much of the existing discourse on energy governance deals with hard security issues but neglects the challenges to global governance. Global Energy Governance fills this gap with perspectives on how regulatory institutions can ensure reliable sources of energy, evaluate financial risk, and provide emergency response mechanisms to deal with interruptions in supply. The authors bring together decisionmakers from industry, government, and civil society in order to address two central questions: •What are the current practices of existing institutions governing global oil and gas on financial markets? •How do these institutions need to adapt in order to meet the challenges of the twenty-first century? The resulting governance-oriented analysis of the three interlocking trends also provides the basis for policy recommendations to improve global regulation. Contributors include Thorsten Benner, Global Public Policy Institute, Berlin; William Blyth, Chatham House, Royal Institute for International Affairs, London; Albert Bressand, School of International and Public Affairs, Columbia University; Dick de Jong, Clingendael International Energy Programme; Ralf Dickel, Energy Charter Secretariat; Andreas Goldthau, Central European University, Budapest, and Global Public Policy Institute, Berlin; Enno Harks, Global Public Policy Institute, Berlin; Wade Hoxtell, Global Public Policy Institute, Berlin; Hillard Huntington, Energy Modeling Forum, Stanford University; Christine Jojarth, Center on Democracy, Development, and the Rule of Law, Stanford University; Frederic Kalinke, Department of Politics and International Relations, Oxford University; Wilfrid L. Kohl, School of Advanced International Studies, Johns Hopkins University; Jamie Manzer, Global Public Policy Institute, Berlin; Amy Myers Jaffe, James A. Baker Institute for Public Policy, Rice University; Yulia Selivanova, Energy Charter Secretariat; Tom Smeenk, Clingendael International Energy Programme; Ricardo Soares de Oliveira, Department of Politics and International Relations, Oxford University; Ronald Soligo, Rice University; Joseph A. Stanislaw, Deloitte LLP and The JAStanislaw Group, LLC; Coby van der Linde, Clingendael International Energy Programme; Jan Martin Witte, Global Public Policy Institute, Berlin; Simonetta Zarrilli, Division on International Trade and Commodities, United Nations Conference on Trade and Development

About the Author :
Andreas Goldthau is associate professor of public policy at Central European University, Hungary, and head of the Energy Security Program at its Center for Environment and Security. He is also a fellow at the Global Public Policy Institute (GPPi), Berlin.Jan Martin Witte is associate director of GPPi.

Review :
"We have entered an era where the provision of clean, affordable, and secure energy to more of mankind is more than just urgent. It is also increasingly complicated, crossing a multitude of political and institutional fault lines. This volume offers an extensive and insightful analysis of the rules and institutional mechanisms that structure global energy markets, and it provides practical recommendations for policymakers to reshape the global energy governance landscape to foster energy security in the twenty-first century." - William C. Ramsay, director for energy at the Institut Francais des Relations Internationales (ifri) and former deputy executive director of the International Energy Agency "This is a far-ranging and sober look at the challenges facing the world energy system. Unlike many studies, which look at only one corner - such as oil or gas or global warming - these authors take on all the challenges. And they are politically astute in offering recommendations for policy reforms that will work. Their focus on the need for new international institutions is particularly welcome." - David G. Victor, director of the Laboratory on International Law and Regulation, University of California, San Diego "Goldthau and Witte have brought together some of the world's finest thinkers on the geopolitical issues surrounding the energy resource strategies being pursued by the world's most powerful nations. By viewing multiple dimensions of energy policy through the lens of institutional structures for market regulation and administration, the authors illuminate the key technological, political, and economic components of the global energy and financial markets. Their analysis ends with a thoughtful set of recommendations for pushing out the boundaries of global energy governance." - Adam E. Sieminski, chief energy economist at Deutsche Bank