Perspectives on Energy Risk, 2014

Since the Industrial Revolution, the efficiency with which energy resources are extracted and converted into work has played a prominent role in the accumulation of material wealth. The prominent role of energy resources, in conjunction with their scarcity and their uneven geographic distribution, has had significant repercussions. Collaboration, competition and conflict among nation states for energy resources have created global, geopolitical and market risks. In this volume, academic scholars and practitioners assess these risks from global, geopolitical and market perspectives. They do so by presenting empirical research and discussing our current understanding of this quickly changing and developing field.

This is the third volume in a series on energy organized by the Centre for Energy and Value Issues (CEVI). The previous volumes in the series were Financial Aspects in Energy (2011) and Energy Economics and Financial Markets (2012).

1 Introduction: Perspectives on Energy Risk.- Part I: Global Risks. 2 Changing Dynamics and Risks in World Energy: The Way Forward.- 3 Slack Resources, Innovation and Growth: Evidence from the US Energy Sector.- 4 Measuring Risks in Energy Markets.- Part II: Geopolitical Risks.- 5 The Natural Gas Revolution and Central Asia.- 6 The Influence of Economic, Financial and Political Indicators in Southeast Asian Electricity Markets.- 7 Geopolitical Market Concentration (GMC) Risk of Turkish Crude Oil and Natural Gas Supplies.- 8 Re-examining Turkey’s Potential of Becoming a Natural Gas Transit Hub.- Part III: Local Risks.- 9 Hedging and Speculation: A Discussion on the Economic Role of Commodity Futures Markets (Including the Oil Markets).- 10 The Influence of Renewables on the German Day Ahead Electricity Prices.- 11 Corporate Financing and Investment Decisions in the Renewable Energy Sector.- 12 Prospective Costs for the Aviation Sector of the Emissions Trading Scheme.

André Dorsman (1954) is President of CEVI, was till July 2013 CFO of LMG Emerge, a firm that selects asset managers in Emerging and Frontier Markets and he is also linked to the VU University Amsterdam. He has a 25 years experience in consulting and economic research in risk management and investment analysis.

Timur Gök is a Visiting Associate Professor in the Department of Finance at DePaul University. He is a former practitioner who has worked and conducted workshops in the areas of corporate risk management, corporate and international finance and corporate governance. Since 2006, he has served as the regional director of the Chicago chapter of the Professional Risk Managers’ International Association (PRMIA.org).

Mehmet Baha Karan (1955) is the vice president of CEVI and Professor of Finance at Hacettepe University, Turkey. He has served in Multinational Finance Society ( President, 2007 and 2014) and Professional Risk Managers' International Association ( Regional Director, 2011-). Main research areas are corporate finance, risk management and energy markets.

Combines energy economics, energy finance and energy policy issues

Contributions by scholars from all over the world

Multidisciplinary approach

Includes supplementary material: sn.pub/extras