The Assessment: The New Energy Paradigm.
During the 1980s and 1990s, energy policy concentrated on privatization, liberalization, and competition, in response to the underlying conditions of excess supply and low fossil fuels. These conditions changed around 2000, in response to the coincidence of a structural upward shift in oil prices, the aging of the assets, network failures, and greater import dependency. The focus moved from asset sweating towards investment, and has been accompanied by a paradigm shift in the objectives of en...Expand abstract
- Oxford Review of Economic Policy
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