The petroleum sector is possibly the largest and most dominant economic sector in the globalized economy. However, for reasons explored in this book, although none of the existing economic development models fit this sector in the past and apply even less today, no satisfactory alternative has presented itself. This book highlights the important reasons why current models fail to predict energy pricing with reasonable accuracy, and ventures into environmental and other problems with oil and gas production and associated economic decisions mounting across both developed as well as developing economies.

Gary M. Zatzman is a researcher with the EEC Research Organisation, in Halifax NS, Canada, a multinational community of researchers from various fields in engineering, social science, and the natural sciences researching ways for industry to become sustainable, both from an economic and environmental standpoint. With this latest work, the author synthesizes decades of industry and teaching experience and dozens of papers and books into a work that breaks new ground in the discussion of sustainability in the energy sector.

Acknowledgements xiii
Preface xv
Introduction 1
0.1 Requirements of a Sustainable Energy Pricing Model 9
0.2 Outline of the Contents of this Volume 30
1. Fundamental Notions 37
1.1 "Energy Crunch" or: The Problems and Issues of Modeling an Energy Price 39
1.2 Matter, Energy, and Efficiency from Scientific Standpoint 66
1.3 Truth as a Scientific Frame of Reference 69
1.4 Phenomenally-based Sustainability: The Nature-science Criterion 80
1.5 Value Assessment, Value Addition and Phenomenally-based Energy Pricing 94
1.6 Newtonian 'Mechanism' and Mystification of How Value is Transformed into Price 104
1.7 Risk Assessment & Management and Aphenomenal Energy Pricing 107
1.8 The Temporal Criterion of Long-term Sustainability and its Implications 116
2. Newtonian Mechanism and Deconstruction of Scientific Disinformation 137
2.1 Introduction 139
2.2 Einstein's Relativity and Newton's Mechanism Compared 140
2.3 Newton's First Assumption 142
2.4 Fundamental Assumptions of Electromagnetic Theory 153
2.5 The Engineering Approach and Its Significance 175
2.6 First Conclusions 182
2.7 Continuity and Linearity 182
3. Offshore Networks of Control: Providing Short-Term Multi-Entity International Oil and Gas Plays with a Guarantee 209
4. Current Energy Pricing Models" Origins & Problems 223
4.1 Consumption without Production 226
4.2 Imposed Energy Pricing 246
4.3 Inherent Features of the Current Energy-Pricing Model: Matters Affecting Individuals' Daily Existence 256
4.4 Societal Implications of the Current Energy-Pricing Model for the Long Term 269
4.5 Long-term vs Short-term Returns-on-investment [ROI] From Energy Exploration & Development 296
4.6 Resource "Renewability" and 'Sustainable Negative Rent' 304
5. The Role of Coal in the Modern Evolution of Energy Pricing 309
5.1 Introduction 309
5.2 Significance of Commodifying Labor-time & All Material Production -- Including its Energy Source 313
5.3 From "Law of Supply & Demand" (at the margin) to "Consumption without Production" 335
6. Carbon Emission Credits -- Theory & Practice 341
6.1 Introduction 341
7. "Peak Oil" and Other Fits of Pique Among Resource Economists 435
7.1 Introduction 435
7.2 Human Factor Social Consciousness & "Abstracting Absence" 453
Bibliography 477
Appendix -Disinformation in the Social & Historical Sciences: Concerning Time Functions and Sustainability of Resource Development 521
Index 575