Oil prices in investment arbitration, partial assimilation

The chapter refers to the issue of oil prices in the context of international investment arbitrations whose jurisdiction is based on bilateral investment treaties (BITs) or the Energy Charter Treaty (ECT). It first analyzes State and industry practice and as well as the legal conclusions of investment tribunals in relation to increases in government take in step with oil price hikes. Second, it looks at with the inputs used by international investment tribunals in their calculation of damages. It finds an apparent disconnect between those legal conclusions and the inputs used by the same tribunals.