The financial concept of real options has important consequences in areas of environmental and natural resources law where irreversible decisions are made in the face of uncertainty. This article argues that consideration of real options is necessary to maximize economic return from...

This study analyzes the economic impact of oil and natural gas development in the Permian Basin with a focus on the NM part of the Basin. The analysis looks at the impacts on state revenue, local employment and income levels. Several existing economic impact reports from other states have been...