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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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Energy Deficit and Dependency of Turkey

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Yusuf Bayraktutan, Hakki M. Ay and Nazan ahbaz Introduction Satisfying the unlimited needs of individuals and societies with goods and ser- vices requires production factors such as labour, capital, entrepreneurship, natu- ral resources and, most notably, energy. In primitive societies, before the discov- ery of energy resources, manpower was sufficient for the activities of gathering and hunting. Together with industrialization, the discovery of fire and the power of water, and their use in the production process, increased the importance of energy. In the modern world, complex tools and utilities strengthened the role of energy. There is an obvious gap between current world supply and demand of energy. As a developing country, the known hydrocarbon resources are clearly insufficient to meet the gradually growing energy demand of Turkey. On the one hand, Turkey is concentrating on developing its domestic resources; on the other hand, it is trying to mobilize possible potential, such as introducing renewable energy re- sources, increasing energy utilization efficiency, and taking advantage of the country’s geographical location. This study analyses the energy demand and supply of Turkey before discussing the country’s dependency on external sources and related issues. 1. Energy Consumption Despite the intensive search for alternatives, for both technical and economic rea- sons, the three fossil fuels – coal, oil, and natural gas – continue to dominate. As of the beginning of 2008, oil accounted for 35.6%, coal for 28.6%, natural gas for 23.8%, renewable resources for 6.4%, and nuclear energy for 5.6% of world primary energy consumption. Turkish...

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