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Petroleum taxation: Experience and issues
Løvås, Kjell; Osmundsen, Petter - Universitetet <Stavanger> / School of Business …
Topical issues in petroleum tax design are in this chapter discussed by means of a tax model for anet income tax system (Norway) and a representative PSA regime. We analyse the entire lifecycle of a typical petroleum project, i.e., the exploration decision is included. Many petroleumtax systems...
Persistent link: https://www.econbiz.de/10009305230
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Time consistency in petroleum taxation - the case of Norway
Osmundsen, Petter - Universitetet <Stavanger> / School of Business …
Because of a long time frame, irreversible and specific investments, incomplete contracts andpolitical constraints, it is generally difficult for governments to commit themselves in a credibleway to a fixed petroleum tax regime. Many controversial renegotiations and tightenings of suchsystems...
Persistent link: https://www.econbiz.de/10009305211
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Asymmetry and uncertainty in capital formation: an application to oil investment
Mohn, Klaus; Osmundsen, Petter - Universitetet <Stavanger> / School of Business … - 2008
Theories of irreversible investment suggest a negative relation between investment and uncertainty,and non-linear adjustment costs open for asymmetries in the adjustment of fixed capital. We proposean econometric modelling approach to estimate and test the key predictions of modern...
Persistent link: https://www.econbiz.de/10009305223
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Oil Service Contracts - New Incentive Schemes to Promote Drilling Efficiency
Osmundsen, Petter; Sørenes, Terje; Toft, Anders - Universitetet <Stavanger> / School of Business …
Shortages of rigs and personnel have encouraged creativity in designing incentive contracts in thedrilling sector. In particular for oil service contracts, since those companies have the most directcontrol of drilling efficiency. A large variety of contract types are in use, including within...
Persistent link: https://www.econbiz.de/10009305231
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Chasing reserves Incentives and ownership
Osmundsen, Petter - Universitetet <Stavanger> / School of Business …
The oil companies are concerned to replace the petroleum reserves they producein order to maintain their future level of activity. Booked reserves alsorepresent an important input when analysts value these companies. Many producercountries want to control their own resources, a goal which can...
Persistent link: https://www.econbiz.de/10009305232
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Strategic Investment in International Gas-TransportSystemsA Dynamic Analysis of the Hold-up Problem
Hubert, Franz; Suleymanova, Irina - Humboldt Universität <Berlin> / Chair for Management … - 2006
We develop a dynamic model of strategic investment in the Eurasian transport system fornatural gas. In the absence of international contract enforcement, countries may distortinvestment in order to increase their bargaining power, resulting in underinvestment incheap and/or overinvestment in...
Persistent link: https://www.econbiz.de/10005857730
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Hold-up and Strategic Investment in InternationalTransport Networks:Gas Pipelines in North Western Europe
Hubert, Franz; Ikonnikova, Svetlana - Humboldt Universität <Berliln> / Chair for Management … - 2011
We propose a variant of the incomplete contract framework to analyze strategicinvestment in international transport networks, where investment is observable andsome, but not all, players cannot make long-term commitments regarding accessto their transport infrastructure. Those players who can...
Persistent link: https://www.econbiz.de/10009360747
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Emissionsminderungspotentiale durch den verstärktenEinsatz von Erdgas in Berlin 1995-2010
Grünewald, Reinhard; Knoll, Michael; Kreibich, Rolf; … - Institut für Zukunftsstudien und Technologiebewertung … - 1999
Mit dem nachfolgenden Bericht wird eine Studie des Instituts für Zukunftsstudien undTechnologiebewertung (IZT) im Auftrag des Berliner Gasversorgers GASAG dokumentiert,in der es um die Standortbestimmung und die zukunftsweisende Orientierung desUnternehmens vor dem Hintergrund der...
Persistent link: https://www.econbiz.de/10005865873
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DO AMERICANS CONSUME TOO LITTLE NATURAL GAS? AN EMPIRICALTEST OF MARGINAL COST PRICING
Davis, Lucas W.; Muehlegger, Erich - National Bureau of Economic Research <Cambridge, Mass.> - 2010
customers facing average markups of over 40%. Based onconservative estimates of the price elasticity of demand these distortions … impose hundreds of millionsof dollars of annual welfare loss. Moreover, current price schedules are an important pre …
Persistent link: https://www.econbiz.de/10005870321
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Oil shocks and optimal monetary policy
Montoro, Carlos - Bank for International Settlements / Monetary and … - 2010
with rising oil prices. This contrasts with the result in the standard New Keynesian model that ensuring complete price … contradiction, this paper investigates how monetary policy should react to oil shocks in a microfounded model with staggered price … economy is hit by oil price shocks.The main result is that oil price shocks generate an endogenous trade-off between inflation …
Persistent link: https://www.econbiz.de/10005870912