UK resource governance for the 21st century
High and volatile resource prices have been identified as one of the key macroeconomic trends of the 21st century.
Such was the success of resource production in the 20th century that, in the standard theory of economics, resource availability is simply assumed.
But the sharp rise in resource price volatility since 2000 is a significant threat to economic and
environmental stability, undermining businesses’ ability to plan ahead.
The government can help to mitigate these risks and departments have the necessary policy levers at their disposal. But there has been a conspicuous lack of support to improve resource security in the UK.
This report analyses the range of potential institutional arrangements available and we assess their strengths and weaknesses.