(DOWNLOAD) "Introduction: The Global and Local Governance of Extractive Resources." by Global Governance " eBook PDF Kindle ePub Free
eBook details
- Title: Introduction: The Global and Local Governance of Extractive Resources.
- Author : Global Governance
- Release Date : January 01, 2011
- Genre: Politics & Current Events,Books,
- Pages : * pages
- Size : 261 KB
Description
The global governance of extractive resources has largely been shaped by the energy-security agenda of industrialized countries. It is patchy and does not properly address the specific concerns of producer, consumer, and transit countries. Rising demand coincides with a looming peak of oil production and climate change. This requires urgent and resolute collective action, which is hampered by a disconnect between geological and political temporality and realities. Extractive industries, investors, civil society, international organizations, and consumer countries can jointly provide significant political and market incentives to avert the resource curse in resource-rich, but weak states. This calls for an appropriate institutionalization of voluntary multistakeholder initiatives with greater engagement on the part of emerging economies. Keywords: energy security, extractive resources, multistakeholder initiatives, resource curse, energy governance, China. The governance of extractive resources means different things to different people, depending on where they sit. Obviously, the interests of net importing and net exporting countries do not coincide. But virtually everyone agrees that the governance of oil, gas, and minerals is patchy and piecemeal at best. Much is simply left to the market or to unilateral and bilateral initiatives, despite a few multilateral institutions that have been set up over the past four decades with the prime objective to enhance the security of energy supplies of consumer countries. The international arena in the extractive sector resembles a Hobbesian world where net importing countries do not hesitate to support deals with fragile or pariah producer states to reduce energy security risks, as illustrated by the recent liquefied natural gas deal of the German energy giant E.ON with Equatorial Guinea (1) or the gas deal between the Swiss firm EGL and the Islamic Republic of Iran. (2)