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Energy Economics

Edited By Abdulkadir Develi and Selahattin Kaynak

Energy resources, the basic input in every area of the economy, have a fundamental function for society’s welfare. Traditional energy resources are, however, rapidly decreasing. Energy supply has been falling behind in meeting global demand, and is causing increased focus on efficiency and economy concepts in recent energy policies. Since the existing energy resources are not spread evenly among the countries, but instead are concentrated in certain regions and countries, a monopolistic situation arises. Equally, supply assurance is an issue, since the energy supply is held by certain regions and countries who have monopolistic pricing power. Both the EU and many other countries are studying how to marketize energy. This book focuses on the importance of energy and the problems posed by it. It will be useful for the academic community, related sectors and decision makers.


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Increased Share of Natural Gas Consumption Compared with other Energy Resources; Structure of Natural Gas Market Demand and Supply


Selahattin Kaynak , brahim Arslan and A. Yilmaz Ata 1. Introduction Development, growth and welfare are primary priorities for societies. Sustain- able development, which is described as offering environmental, social and eco- nomic services to everyone without threatening the ecological end social sys- tems, play a very important role with regard to these priorities. In this context, energy resources play an important role in sustainable development and growth.1 Sustainable development is dependent on three basic concepts that are economic, social and environmental. Economic, social and environmental policies must be synchronized to achieve sustainable development.2 Energy is one of the fundamental aspects of economic, social and environmental policies.3 The important role of energy comes from its structural relationship with all other sectors.4 Because of population growth, technological improvements and rising standards of living, the need of energy has been growing and consequently, energy prices are increasing. The rise in the price of energy, which is a basic input for all areas of the economy, has negative effects on economic development and growth.5 Therefore, to ensure sustainable development and economic growth, ener- gy efficiency must be secured through stable and consistent energy policies. Be- sides, new and renewable energy resources must be utilized.6 Sustainable develop- ment is interlinked with supply safety, and energy policies based on competition and protection of the environment. All of these factors must be harmonized and 1 Hall, C., et al. (2001), “The Need to Reintegrate the Natural Sciences with Economics”, Bioscience, 51 (8), pp. 663-673. 2 Nordhaus, William...

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