In 1990, Iraq invaded Kuwait, touching off an economic, financial, diplomatic, and military crisis associated with a tremendous spike in oil prices and recession in OECD and oil-importing developing countries. But was the Gulf Crisis a disruption? Did it affect the fabric of oil trade? To...

This paper provides the first empirical study of the market structure of the shale gas drilling industry in the United States. Modern shale gas drilling, which is a major revolution in the energy industry, was highly concentrated during its experimental stage, roughly from the early 1980s to the...

High oil prices are favourable for OPEC in the short run, but may undermine its future revenues. We search for the optimal oil price level for the producer group, using a partial equilibrium model for the oil market. The model explicitly accounts for reserves, development and production in 4...

Increased focus on shareholder returns, capital discipline and return on capital employed (RoACE) caused a slowdown in investment rates and production growth among international oil companies around the turn of the century. Focusing on supply side dynamics of the oil market, we explore a...

This paper studies the disposal costs' effect on consumer surplus and firms' profits. The costlier disposal, the less is disposed of, firms' competition for market shares increases, thereby benefiting consumers. Yet firms decrease their production to mitigate costs, affecting consumer surplus...

Emissions from oil and gas extraction matter for the lifecycle emissions of fossil fuels, and account for significant shares of domestic emissions in many fossil fuel exporting countries. In this study we investigate empirically the driving forces behind CO2-emission intensities of Norwegian oil...

Knowledge about rig markets is crucial for understanding the global oil market. In this paper we first develop a simple bargaining model for rig markets. Then we examine empirically the most important drivers for rig rate formation of floaters operating at the Norwegian Continental Shelf in the...

We measure the effective assistance to 18 Norwegian private industries in 1989 caused by government budgetary subsidies, indirect commodity taxes, import protection through nominal tariffs and non-tariff-barriers, price discrimination of electricity and capital income taxation. The assistance...

We measure the effective assistance to 17 Norwegian private industries in 1989 and 1991 caused by government budgetary subsidies, indirect commodity taxes, import protection through nominal tariffs and non-tariff barriers, and electricity market distortions. The assistance effects are measured...