2003/2004 Editorial Note
The energy industry has for very many years played an important and dominant role in the world economy. Events, which affect energy industries, have therefore shaped policies, regulations and laws of both the energy producing and consuming Nations. These have also affected investors and financiers in their investment decisions. A multidisciplinary understanding of the dynamics of the industry be it in oil, gas, mining or water is however necessary, if one is to overcome the risks, challenges and uncertainties associated with the industry as a whole. It is such dynamics that have not only provoked thoughts but also practical application of those thoughts towards the realisation of energy security, and investment in other alternative sources of primary energy. This has also increased attention on nuclear energy issues. The nature of the industry is such that it makes a case for investment based on a framework that facilitates adequate return for investors, lenders, and producers, and at the same time, gives the consumers leverage on price. The framework for such investment must also take place within acceptable limits of environmental balance and respect for human rights.
However, gaps exist between theoretical frameworks and industry practices. It is this gap that the CEPMLP has striven over the years to fill. It has in doing so, also afforded its students the opportunity of exhibiting the products of their research works on issues that affect the energy and natural resources industries. The CAR in an effort to reflect this has also striven over the years to maintain a very high standard. It is in the spirit of these efforts that this year’s 8th edition of CAR is presented. This edition which covers various topics on the natural resources industries is aptly titled “overcoming emerging challenges in the energy and natural resources industry”. The edition covers issues such as the liberalisation of the power sector, OPEC and anti trust legislations, the WTO and regional trade agreements, implications of the equator principles for project financing of energy and utilities, petroleum taxation, and other issues on the Energy Charter Treaty. The merit of vertical integration of industries is also discussed in a way that provides a guide for both investors and project financiers. These and much more are covered in an attempt to provide solutions to the problems associated with the industry.
My commendation goes to the following members of the editorial board for their dedication and hard work. Oluseye Arowolo, Marcus Clinch, Helena Iniss, Chiemezie Ejinimma, Leonardo Dasilva and Richard Ezeife. I also wish to thank all members of CEPMLP staff who assisted in no small measure to make this edition a reality. Special thanks to Janet Warden-Fernandez a Research and Teaching Fellow at CEPMLP, Rebecca Leiper and Angela Dunsire. The members of the editorial Board are also grateful to Dr Arthur Walden who served as a guiding light on each step of the way. The inspiration provided by Professor Thomas Walde (former Executive Director of CEPMLP) at the inception of CAR has remained rekindled every year. We are most grateful to Dr Phillips Andrews-Speed (the Executive Director CEPMLP) whose support made this year’s edition a reality. We remain indebted also to the contributors who provided us with the materials which have made this years CAR a brilliant success.
I do hope you will find this edition interesting and academically beneficial.
Bede Nwete
Editor-in-chief (2003/2004)
CEPMLP Annual Review (CAR)
bon_law@yahoo.co.uk
