Preliminary considerations on the use of water resources in the oil Iindustry in light of water Law:

water as an economic good

Abstract

As the doors to a new century open, humanity begins to reflect on old and new challenges, seeking ways to overcome them from a contemporary perspective. In a globalized world where consumption does not observe the renewal cycle of natural resources, water stands out in the debate, as it represents an inseparable element for the continuity of life on Earth. Given the historical moment to come, the paradigms for its understanding are about to change, which is why the understanding that water resources have economic importance has been added to the environmental discourse. This work aims to demonstrate that water must also necessarily be understood from a pecuniary perspective, a topic that cannot be overlooked by the legal world. To understand the debate, the study discusses the use of water by the oil industry, demonstrating how legal norms create costs and externalities for agents in the oil production chain. More than simply providing clarification to the actors involved, the objective is to reflect on the system based on the economic premise of water, notably the following themes: 1 - water resources in contemporary times; 2 - the constitutional regime conferred on water; 3 - the correlation between oil and aquifer reserves, as well as their use by the oil industry; 4 - the role played by ordinary legislation; and 5 - how to achieve sustainable development in the face of water and oil issues. Ultimately, the aim is to foster debate and rethinking among legal professionals regarding the necessary interaction that economics has for the experience and continuity of Law itself.