ECONOMICS OF ENERGY AND THE LAW

Abstract

Economics of Energy and Law interrogates the law and economic reasoning behind the choice of production, distribution and consumption of energy resulting in an efficient and effective manner that is sustainable for the present and future generation. Such with environmental best practice mitigating climate change effect on economy. It does not ignore use of suitable and efficient technologies in energy protection that is cheap. The article considers the role law plays in economics of energy, highlighting how law and economics pursue similar goal in energy efficiency and how to deal with both concepts in energy production and consumption. The paper is completed by library research in which content analysis was utilized to make deductions and inferences of energy economics and law. The paper agrees that law can achieve energy economics. The paper is divided into two parts, part one covers introduction, definition and Energy production, distribution and consumption, what economic choices exist? While part two discuses Energy production, the economics and law involved, Energy efficiency as an Economic tool promoted by law and concludes that in energy economics and law, the key focus are energy production and consumption that is cost effective and the rational choices of production and consumption that are efficient and optimal.