The idea for this book came up in 2013 when I attended a workshop in Aberdeen on renewable energy in the U.K organized under the auspices of the Energy Institute. This was a time oil prices were already on its upward journey and concerns about the security of energy supply were becoming a common man issue. It occurred to me that despite the great interest in understanding the common energy problems around us, there is a lack of critical appreciation of the problem and its inter-linkages with other issues. While the interest in the field of energy studies has seen a tremendous growth over the past decades, there is a serious gap in terms of a holistic understanding of the energy problems around us. That workshop clearly demonstrated that the economic concepts that are relevant to the energy industry are poorly understood by researchers of inter-disciplinary background and policy makers. Most of the content of the book is accessible to persons of non-energy background. The economicconcepts have also been explained in simple terms, often using graphical presentations and tabular forms for easy understanding. I have added some materials and have provided references for further reading