Towards an Accident Free Energy Regime in Ghana

Kwesi Amponsah-Tawiah,Kwasi Dartey-Baah

doi:10.5539/ibr.v5n11p197

Abstract

This paper examines the legislative instruments governing the Ghanaian oil and gas industry with the view to identifying weaknesses that may compromise the health and safety standards and quality of life of the people. It reviews literature on the global and Ghana’s energy regimes within the framework of its economic benefits and the challenges posed to the environment, people, flora and fauna as a basis for analysing the current legislative and regulatory environment and the proposed future legislations. The study observed that developed economies such as the United States of America have not totally escaped the challenges of oil and gas exploitation in spite of its well established oil and gas legislative and regulatory environment. Against this backdrop, the paper reveals that Ghana’s current legislative and regulatory environment has little provision for issues of health and safety and the institutions are ill-resourced to prevent pollution. It thus made recommendations to enhance future legislations and demonstrates the importance of good legislative and regulatory environment in harnessing the benefits of oil and gas exploitation and reducing or eliminating its ills.

Highlights

The overdependence on the energy and mining sectors in the global economy has increased the world’s attention to emerging oil economies like Ghana, Angola and Uganda
Ghana stands to gain a lot by drawing inspirations from oil legislations in other jurisdictions
A semblance of this Act exists in Canada, United States of America, and United Kingdom

Summary

Introduction

The overdependence on the energy and mining sectors in the global economy has increased the world’s attention to emerging oil economies like Ghana, Angola and Uganda. Developing countries like Ghana having great energy and mineral potentials and seeking investors, have become a safe destination for many trans-national companies, some in the class of Thor Chemicals. How does this country ensure the tapping of the potentials in these sectors without compromising on health and safety standards and the quality of life of citizens? As Karl, (1997) noted “poor nations that are dependent on oil sales for key revenues are often adversely affected by their ownership of the revenues” These effects sometimes transcend beyond the boundaries of a single arena; Political, Social, Economic, Environmental, and Health

The Global Energy Regime Benefits and Challenges

The Ghanaian Energy Regime Benefits and Challenges

The Legislative and Regulatory Environment of Ghana’s Energy Regime

Upcoming Regulations

Findings

Conclusion