Democratization, globalization, and increased environmental awareness have had a profound impact on the regulation of industry in the energy and natural resources sector. This book analyses the changes in character of the way this industry is regulated, and seeks to make connections with theoretical perspectives on regulation as a major part of the modern legal system. Part I examines the emergence of alternatives to regulation, such as 'soft law' in developing countries, the European Electricity and Gas Directives of 1996 and 1998, the idea of regulation of company structure as opposed to performance, multi-faceted government alternative regulatory instruments, and market mechanics. Part II analyses conventional methods of regulation, and how they have evolved, including case studies from the Netherlands, the USA, Singapore, New Zealand, and the UK. Part III looks at regulatory innovations such as environmental audit, self-regulation, the 'Voluntary Action Plan', private-sector standard setting, and certification. Part IV examines the role of non-state actors, and their response to national and supranational regulatory changes, and globalization.
Recent shifts in the perception of energy security, failures in energy company corporate governance, and evolving self-regulatory frameworks renders this a timely and worthy examination of the issues facing the energy and natural resources industry today.