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This study documents energy policy as a key area in each of the world's economies. The oil shocks of the 1970's emphasized how important energy had become. In recent years a growing awareness of environmental issues has had a major impact on perceptions of energy use as growing numbers of people express concern at the relationship between energy and the greenhouse effect, acid rain and the depletion of the ozone layer. All of this has created a demand for more, and better, models of energy use.

Posing the important question of how environmental management may benefit firms, this book adopts a neutral stance towards the issue of the extent to which environmental issues should, or should not, be addressed within the context of the management of business corporations. standards, using the tools of microeconomic and industrial organization analysis to provide an ordered and consistent picture. The analysis is couched within stakeholder theory, which determines how costs and benefits are defined for the firm. Utilizing the most recent information, the book also focuses on the underlying...