THE ROLE OF ENERGY IN THE INTERNATIONAL TRADE

The global energy landscape will evolve significantly in the coming decades, creating new opportunities for international trade and economic growth. Because few countries have energy and all countries need energy, trade in energy (and especially oil) has been crucial to fulfil global energy needs. There is more trade internationally in oil than in anything else. This article has as its purpose the establishment of the theoretical reasons for the connection that exists between the international trade regime and the energy trade. It will mainly focus on presenting the historical relationship that exists between trade and energy consumption, being brought into attention the global challenges that may arise at the intersection of trade, energy, and their influence upon the environment. Trade, energy and the conservation of the environment are each hugely complicated, not being mentioned the fact that being brought together, they are vital for the entire world. Therefore, the energy industry has a lot at stake as trade and environment rules are adopted and interpreted. All the challenges that can appear are discouraging but they are compounded in the absence of a focused, predictable and logical legal framework. The energy industry cannot supply the world's energy needs if the rules to which they are subject are loose, conflicting, insubstantial or constantly changing.