Unconventional Energy Sources and EU Energy Security: A Legal, Economic and Political Analysis
Oil, Gas & Energy Law Journal, Vol. 12, Issue 4, 2014, pp. 1-37
38 Pages Posted: 23 Sep 2014 Last revised: 17 Nov 2014
Date Written: September 22, 2014
This paper examines the system of law and governance of international trade in unconventional energy sources. Currently, there is no cohesive governance for global energy trade. On the contrary, governance of energy trade mainly arises by default, rather than design, through the ad hoc interplay of different aspects of the international economic and political system. This has implications for the European Union (EU), which relies heavily on the rest of the world for its energy supply, and consequently its energy security. The paper provides some background to EU energy policy; it then explains the current revolution of unconventional sources of fossil fuel and how it may geopolitically impact the EU. The last section concludes the paper and provides some policy recommendations.
Keywords: International trade in energy law; EU energy policy; energy security; unconventional sources of fossil fuel; shale gas; geopolitics; OPEC
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