This important book provides a comprehensive analysis of technological change and environmental policy within the oil and gas industry. It identifies and measures the impact of technological change, both in market and environmental output sectors and takes steps to identify key causal relationships. The author focuses on the design and implementation of environmental policies that encourage technological progress in the face of the depletion of natural resources and the increasing stringency of environmental regulations. Detailed policy scenarios provide quantitative assessments indicating the significance of the potential benefits of technological change and well-designed environmental policy.

With a sophisticated description of innovations within the oil and gas industry, this book will be of great interest to postgraduate students in economics, as well as in public policy, business administration and engineering. It will also appeal to practitioners in the energy industry and energy and environmental policymakers as it demonstrates how successful market and environmental policies can contribute to efficiency by encouraging, rather than inhibiting, technological innovation.