Risk Allocation and Distributive Justice in the Energy Industry

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Risk Allocation and Distributive Justice in the Energy Industry is written by Smith I Azubuike and published by . It's available with International Standard Book Number or ISBN identification 1399517708 (ISBN 10) and 9781399517706 (ISBN 13).

Brings the concept of gross negligence to the fore and highlights how distributive justice forms a better foundation for risk allocation in the offshore energy industry Drawing on the momentum of the Macondo cases, this book focuses on the crucial practice of risk allocation in the energy industry. The book examines how distributive justice, public policy, and regulation can assist in allocating the risk of gross negligence and promote environmental sustainability in offshore drilling operations. It highlights the need to incentivise accident prevention practices in offshore drilling agreements by holding participants responsible for grossly negligent conduct. The book provides guiding principles and approaches that can assist contracting parties in dealing with gross negligence clauses and the court in interpreting the concept. It critically evaluates gross negligence risk as a special kind of risk, examines its unique contextual settings in jurisdictions including Nigeria, Indonesia, the USA and UK, and analyses it within the context of freedom of contract. Smith I. Azubuike is Assistant Professor in Energy Law at Durham University.