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Energy and the EC

In: Britain within the European Community

Author

Listed:
  • David W. Pearce
  • Richard Westoby

Abstract

Strictly speaking, the EC does not have a ‘common’ energy policy — see Hu (1980). By and large, member countries are free to pursue their own supply and demand control policies on an independent basis.1 But, as with other resources, the concept of a common policy has been widely advocated as an integral part of the wider meaning of the EC. This chapter takes a preliminary look at one aspect of the early efforts to formulate such a policy, namely the setting of targets for the reduction of dependence on imports of crude or refined oil from countries outside the EC. The basis of this policy is straightforward and is commensurate with policy enunciated in non-EC countries: i.e. increased ‘energy independence’. This produces social benefits which, while not quantified in practice, could be approximated by the welfare gains of non-interruption of supplies from monopolistic suppliers such as OPEC — see Weyman-Jones (1981). We attempt to answer the question: how far is the EC likely to succeed in achieving energy independence targets in the next decade?

Suggested Citation

  • David W. Pearce & Richard Westoby, 1983. "Energy and the EC," Palgrave Macmillan Books, in: Ali M. El-Agraa (ed.), Britain within the European Community, chapter 10, pages 187-212, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-17136-1_10
    DOI: 10.1007/978-1-349-17136-1_10
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    1. Ali M. El‐Agraa & Yao‐Su Hu, 1984. "National Versus Supranational Interests and the Problem of Establishing an Effective EC Energy Policy," Journal of Common Market Studies, Wiley Blackwell, vol. 22(4), pages 333-349, June.

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