This article analyzes the interaction of politics and military security in global oil markets since the 1980s. The authors outline the historical evolution of the pricing structure that maintained a stable world oil market. They argue that the security framework underlying this pricing structure...

Geologic estimates of remaining global petroleum resources place about 50% in the Persian Gulf. Production costs are estimated at $5 per barrel there and $15 per barrel in the North Sea and Alaska. According to mathematical results derived from depletion theory, the present value of economic...

This paper appraises current economic methodologies used in analyzing the social rate of time preference and discounting, abatement costs, and value of life estimates as they relate to climate change. It makes a case for choosing an appropriate rate of time preference when assessing climate...