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Letter from the editor

Energy Finance

Energy Finance

"Defined as a single industrial sector, the global production, distribution, and consumption of energy is the world’s largest in terms of annual capital investment (US$1.83 trillion in 2019, the last prepandemic year for which full data are available) and the second largest nonfinancial industry in terms of sales revenue (US$4.51 trillion). Production and consumption of more than 100 million barrels of oil occurs each day—with 70% being traded across borders. Each of the world’s 7.5 billion citizens consumes an average of 3,181 kilowatt-hours per year, although per capita energy consumption varies enormously and is much higher in rich than in poor countries..." – By William Megginson, Herber Farnsworth and Bing (Violet) Xu

Administrative Law: Governing Economic and Social Governance

Administrative Law

"Administrative law refers to the body of legal doctrines, procedures, and practices that govern the operation of the myriad regulatory bodies and other administrative agencies that interact directly with individuals and businesses to shape economic and social outcomes. This law takes many forms in different legal systems around the world, but even different systems of administrative law share a focus on three major issues: the formal structures of administrative agencies; the procedures that these agencies must follow to make regulations, grant licenses, or pursue other actions; and the doctrines governing judicial review of administrative decisions..." – By Cary Coglianese

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