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- aggregation classification "C1".
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- aggregation date "2010".
- aggregation format "application/pdf".
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- aggregation language "eng".
- aggregation publisher "Leuven Centre for Global Governance Studies".
- aggregation rights "I have transferred the copyright for this publication to the publisher".
- aggregation subject "Law and Political Science".
- aggregation title "Multilateral energy governance: EU and US perspectives on revising international energy treaties".
- aggregation abstract "On both sides of the Atlantic, recent public debates over energy security have been characterized by increased nervousness and anxiety. With all the looming talk about gas “wars”, the oil “weapon”, a “race” for resources and the “locking up” of reserves, one would almost forget that international trade of crude oil and natural gas still largely operates within clear and predictable rules, markets and institutions. Looking at this institutional architecture that governs global energy markets surely throws a whole different light on international energy relations. However, switching the geopolitical lens for an institutionalist one is only reassuring up to a point. Indeed, a close examination of the global energy architecture immediately reveals some serious weaknesses and shortcomings. The existing architecture largely took shape in response to the oil shocks of the 1970s and is utterly outdated. Structural shifts in international energy markets, such as the rise of new oil consumers outside of the West and the broadening of the concept of energy security, have put this global institutional framework under increasing strain. Therefore, a number of voices have called for a fundamental overhaul of the existing global energy architecture. This paper examines the scope for shared views and even joint action by the European Union (EU) and United States (US) in this reform debate. Special attention is given to the transatlantic energy forums that were formed in the context of the oil shocks of the 1970s – the International Energy Agency (IEA) and the G7/G8 – to see how they can be updated to the governance challenges and global political order of the twenty-first century.".
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