Exploring Economic Instruments and Designing Environmental Economics For Improving Environmental Management at Global E P Industry. A Roadmap For Implementing Economic Instruments at Indian Hydrocarbon Industry

摘要

The natural environment is changing, and willcontinue to change the circumstances in which the oiland gas industry operates. Apart from those traditionalissues of Petroleum Business: Finding a commercialdeposit, Producing it at reasonable cost, and Marketing itat competitive price, the oil and gas industry has nowfaced one more task of environmental accountability.Environmental regulations for oil and gas exploration &production, represent both a challenge and opportunityto the industry: the challenge to manage environmentallegal risks for preservation of environment and conservation of natural resource in context of naturalresource economics; and the opportunity to havepetroleum production cycle developed,more sustainablefor cleaner energy.It has been recognized globally that just theinstruments of state intervention and regulations, inpopular parlance, Command and Control, are neithersufficient nor efficient tools to improve environmentalmanagement practices at regional, national, andinternational industrial sphere in general and petroleumproduction system in particular. In this context, policymakers, academics, NGOs and other stakeholders are