Energy Resource Economics

Energy Resource Economics is a branch of resource economics that examines how we produce, consume, and manage energy resources like oil, natural gas, coal, and renewable sources. It analyzes the costs, benefits, and trade-offs involved in energy production and consumption, including market dynamics, environmental impacts, and policy implications. This field helps decision-makers understand how to efficiently allocate energy resources, balance economic growth with sustainability, and plan for future energy needs while addressing climate change and resource depletion. Ultimately, it aims to optimize energy use for societal benefit.