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...

Under international law, state's territorial sovereignty ends at its boundaries and any hydrocarbons reservoirs that straddle across would belong to a different state with control over such territory. The United Nations Convention on the Law of the Sea (UNCLOS) provides a legal framework for...

Unlike Antarctica, the Arctic can boast no region-specific treaty that comprehensively covers the challenges it faces, including potential threats to its marine areas. The Arctic states are, however, subjects of many international and regional legal instruments, most of which fall within the...

Tensions between Lebanon and Israel have been running high during the last months due to a legal dispute over rights to newly discovered natural oil and gas reserves in the Mediterranean Sea. Formally at war for years, and without diplomatic relations, Israel and Lebanon have never agreed on a...

The commercial development of offshore methane hydrates will necessitate planning for accidental risk. Due to the unique risks and hazards associated with the development of offshore methane hydrates, it is unlikely that their development would be capable of beginning without some form of ex...

The impact of natural resources on intrastate violence has been increasingly analyzed in the peace and conflict literature. Surprisingly, little quantitative evidence has been gathered on the effects of the resource-ownership structure on internal violence. This paper uses a novel dataset on oil...

The valuation of crude oil and gas reserves is a critical step in pricing crude oil and gas producing firms. This is of interest both to academics and practitioners who are called upon to value these firms. It is also of interest to regulators, particularly in their oversight of mergers and...