GRA 8196 Energy Governance, Policy and Regulation

APPLIES TO ACADEMIC YEAR 2015/2016

GRA 8196 Energy Governance, Policy and Regulation


Responsible for the course
Nick Sitter

Department
Department of Accounting - Auditing and Law

Term
According to study plan

ECTS Credits
6

Language of instruction
English

Introduction
This course is part of the Executive Master of Management in Energy in cooperation with BI Norwegian Business School and IFP School.


    Learning outcome
    The objective of this course is to give an introduction to energy governance, policy and regulation and the basic challenges facing governments and politicians. It also discusses how companies can adapt to various form of political intervention and how markets change. Political interventions are discussed both at a micro level (regulation of companies) and at a macro level (energy, competition and security policy), at the national, regional and international stage. The courses discusses the policy implications of approaching energy as a public, private and strategic good; and the strengths and weaknesses of different types of energy governance and policy tools. A range of national and empirical cases are use to explore these themes.

    Acquired knowledge:
    Participants will acquire an understanding of how national and international economic and political frameworks and governance mechanisms influence the energy industry and markets, with an emphasis on the challenges to energy policy makers and energy market regulators. This includes policy tools such as direct government intervention, state ownership and arms-length regulation.

    Acquired skills:
    The course will enable the participants to understand energy markets and the energy business and the need to regulate markets form a public policy perspective, both in terms of market failures (including the positive and negative externalities of energy production and consumption, competition policy and natural monopolies) and boarder political goals linked to economic stability, social justice and security. They will be able to understand the motives and methods for energy policy making, assess the effectiveness of policy tools, and evaluate the trade-offs and dilemmas involved.

    Reflection:
    The participants will be able to reflect on the challenges in different countries and organizations connected to the nature and characteristics of energy policy and regulation, energy policies in major countries and regions, and energy company performances.


    Prerequisites
    Granted admission to the Executive Master of Management in Energy Management programme. Students should be familiar with the readings and references for the course “Energy economics and geopolitics”

    Compulsory reading
    Books:
    Andersen, Svein & Sitter, Nick. 2009. The European gas market: Differentiated integration and fuzzy liberalization, in Ferrman, G. (ed.) Political Economy of Energy in Europe: Integration and fragmentation. Berliner Wissenschafts-Verlag. 63-85
    Austvik, Ole Gunnar. 2009. EU Natural Gas Market Liberalization and Long-Term Security-of-Supply and -Demand, in Ferman (ed): The Political Economy of Energy in Europe: Forces of Integration and Fragmentation. Berliner Wissenshafts Verlag. 85-118
    David C. Rapoport.. 2004. The Four Waves of Modern Terrorism, in Audrey Kurth Cronin and James Ludes (eds.) Attacking Terrorism: Elements of a Grand Strategy.. 46-73
    Macartan, Humphrey, Sachs, Jeffrey and Stiglitz Joseph. 2007. What is the problem with natural resource wealth?, In Macartan, Sachs & Stiglitz (eds) Escaping the Resource Curse. Columbia University Press. 1-21
    McPherson, Charles. 2003. National Oil Companies: Evolution, Issues, Outlook, in Fiscal Policy Formulation and Implementation in Oil-Producing Countries. Washington D.C., International Monetary Fund. 184-204
    Noreng, Øystein. 2006. Crude Power: Politics and the Oil Market, ch. 4 “The Political Economy of Oil Prices”. IB Tauris. 152-186
    Stevens, Paul. 2007. Oil Markets and the Future, in Dieter Helm (ed.) The New Energy Paradigm. Oxford University Press. 123-175
    Veljanovski, Cento. 2010. Economic Approaches to Regulation, in Robert Baldwin, Martin Cave and Martin Lodge (eds), The Oxford Handbook of Regulation. Oxford University Press. 17-38

    Articles:
    Audrey K. Cronin. 2010. The Evolution of Counterterrorism: Will Tactics Trump Strategy?. International Affairs. 86:4. 837-856
    Austvik, Ole Gunnar. 1997. Gas pricing in a liberalized European market; Will the rent be taxed away?. Energy Policy. 20:12. 997-1012
    Austvik, Ole Gunnar. 2014. The Norwegian Petroleum Experience as an Example?. The International Shale Gas and Oil Journal, ISG&OJ. 2:2. 18-28
    Collier, Paul. 2010. The political economy of natural resources. Social Research. 77.4. 1105-1132
    Goldthau, Andreas. 2012. From the State to the Market and Back. Policy Implications of Changing Energy Paradigms. Global Policy. 3:2. 198-210
    Yergin, Daniel. 2006. Ensuring Energy Security. Foreign Affairs. March/April. 69-82

    Other:
    Austvik, Ole Gunnar. 2009. The generally misguided long-term oil price forecasts; Price formation and policy implications. Lillehammer University College. Working Paper no.186. 1-22
    Statoil. The In Amenas Attack, Statoil investigation report, http://www.statoil.com/en/NewsAndMedia/News/2013/Downloads/In%20Amenas%20report.pdf. 1-88


    Recommended reading
    Books:
    Baldwin, Robert, Martin Cave and Martin Lodge. 2013. Understanding Regulation. Chapter 1 on why regulate. Oxford University Press. 15-25
    Behn, Daniel, and Vitaliy Pogoretskyy. 2012. Tensions between the liberalist and statist approach to energy trade governance: the case of gas dual pricing. In Caroline Kuzemko, Andrei Belyi, Andreas Goldthau and Michael Keating (eds) Dynamics of energy governance in Europe and Russia. Palgrave Macmillan. 45-65
    Birol, Faith. 2007. The investment Implications of Global Energy Trends in Dieter Helm (ed.) The New Energy Paradigm. Oxford University Press. 411-421
    Eliassen, Kjell and Nick Sitter. 2008. Understanding Public Management: Liberalising and Modernising Public Services. Ch 4 on regulation and competition policy. Sage. 75-92
    Noreng, Øystein. 2013. Global Resource Scramble and New Energy Frontiers” in Andreas Goldthau (ed,) The Handbook of Global Energy Policy. Wiley-Blackwell. 159-175
    Stern, Jonathan and and Howard Rogers. 2011. The Transition to Hub-based Gas Pricing in Continental Europe, NG 49,. Oxford Institute for Energy Studies. 1-45
    Victor, David G, Hults, David R. and Thurber, Mark,. Appendix A, our assessments off NOC performance, in Oil and Governance, State-owned Enterprises and the World Energy Supply. :. Cambridge University Press. 931-940
    Wilks, Stephen. 2010. “Competition Policy”, in Helen Wallace, Mark Pollack and Alasdair Young (eds), in Policy-Making in the European Union. Oxford University Press. 133-156
    Yergin, Daniel. 2011. The Quest: Energy, Security, and the Remaking of the Modern World. .Ch 1 on Rusia. Penguin. 21-43
    Yergin, Daniel.. 1991. The prize: The epic quest for oil, money, and power.Ch 31 on OPECs imperium. Simon & Schuster.. 633-652
    Youngs, Richard. 2009. Energy Security: Europe’s New Foreign Policy Challenge. Ch3 on the policy response. Routledge. 22-50

    Articles:
    Abrahms, Max. 2006. Why Terrorism Does Not Work. International Security. 31:2. 42-7
    Austvik, Ole Gunnar. 1992. Limits to Oil Pricing. Scenario Planning as a Device to Understand Oil Price Developments. Energy Policy. 20:1. 1097-1105
    Austvik, Ole Gunnar. 2012. Landlord and entrepreneur. The shifting roles of the state in Norwegian oil and gas policy. Governance. An International Journal of Policy, Administration, and Institutions. 25:2. 315-334
    Correlje, Aad, and Coby van der Linde. 2006. Energy Supply Security and Geopolitics: A European Perspective. Energy Policy. 34. 532-543
    Goldthau, Andreas and Nick Sitter. 2014. A liberal actor in a realist world? The Commission and the external dimension of the single market for energy. Journal of European Public Policy, Published online: 22 May 2014. 1-20
    Goldthau, Andreas. 2012. A Public Policy Perspective on Global Energy Security. International Studies Perspectives. 13:1. 65-84
    Helm, Dieter. 2002. Energy policy: security of supply, sustainability and competition. Energy Policy. 30. 173–184
    McNally, Robert and Michael Levi. 2011. A Crude Predicament: The Era of Volatile Oil Prices. Foreign Affairs. 90:4. 100-111
    Parker, Tom. 2007. Fighting an Antaean Enemy: How Democratic States Unintentionally Sustain the Terrorist Movements they Oppose. Terrorism and Political Violence. 19:2. 155-179
    Sitter, Nick and Tom Parker. 2014. Fighting Fire with Water: NGO and Counter-Terrorism Policy Tools. Global Policy. 5:2. 159-168
    Stigler, George. 1971. The Theory of Economic Regulation”, Bell Journal of Economics and Management Science,. 6:2. 3-21
    Umbach, Frank. 2010. Global energy security and the implications for the EU. Energy Policy. 38:3. 1229-1240

    Other:
    Riley, Alan. 2012. Commission v. Gazprom: The antitrust clash of the decade? CEPS Policy Brief
    Stoltenberg, Jens. 2013. The resource curse; the case of Norway. Speech Harvard University, September 24. www.odin.smk.no


    Course outline
    · Energy in political economy: a private, public and strategic good.
    · Governance in the energy sector: actors and policy tools
    · Energy policy and security of supply
    · Oil markets: Global market, fungible product
    · Security of Supply: Price risk and public policy tools
    · Global governance: IEA and the international regime
    · Gas markets: Regional markets, bilateral deals
    · Security of Supply: Supply risk and public policy tools
    · Regional governance: the European Union and regional regimes
    · Energy, economic rent and interest group politics
    · Energy and the global political economy
    · Energy and security: security threats, resource conflicts, public and private policy tools

    Computer-based tools
    It's Learning and e-mail.

    Learning process and workload
    1 ECTS credit corresponds to a workload of 26-30 hours.

    Sessions include lectures, seminars and group work.

    Attendance to all sessions in the course is compulsory. If you have to miss part(s) of the course you must ask in advance for leave of absence. More than 20% absence in a course will require retaking the entire course. It's the student's own responsibility to obtain any information provided in class that is not included on the course homepage/ It's learning or other course materials



    Examination
    The course evaluation will be based on:
    - Group assignment with presentation, counts 30%
    - Individual paper, counts 70%

    All evaluations must be passed to obtain a certificate for the degree.

    This is a course with continuous assessment (several exam elements) and one final exam code. Each exam element will be graded using points on a scale (e.g. 0-100). The elements will be weighted together according to the information in the course description in order to calculate the final letter grade for the course.

    Students are subject to individual evaluation through a homework, one policy-paper discussing pros and cons for a specific decision maker dealing with different regulatory, interventionary and fiscal policy measures after the course on a subject treated in the course. Furthermore, considering that parts of the analytical work as experts of the energy sector is conducted in groups; students will also be subject to evaluation through one group assignment and presentation before the course ends.
    Examination code(s)
    GRA 81961 - Continuous assessment; accounts for 100% of the final grade in the course GRA 8196, 6 ECTS credits

    The course is a part of the Executive Master of Management in Energy ( EMME ) and all evaluations must be passed to obtain a certificate for the degree.

    Examination support materials
    Exam aids at examinations are explained under exam information in our web-based Student handbook. Please note use of calculator and dictionary. http://www.bi.edu/studenthandbook/examaids

    Re-sit examination
    Re-takes are only possible at the next time a course will be held. When course evaluation consists of class participation or continuous assessment, the whole course must be re-evaluated when a student wants to retake a exam. Retake examinations entail an extra examination fee.

    Additional information

    Semester

    Oversettelser