The literature on taxation of rents from nonrenewable resources uses different theoretical assumptions and methods and a variety of empirical observations to arrive at widely diverging conclusions. Many studies use models and methods which disregard uncertainty, investigating distortionary...

The objective of this study is to analyze the economic, political and strategic implications of the discovery of huge oil and gas reserves in the presalt provinces in 2006. For this purpose we present the main challenges that must be confronted to make sure that the presalt cycle will contribute...

In November 2016, just two days after the election of President Donald Trump, the federal district court in Oregon handed down Juliana v. Obama, a remarkable decision that refused to dismiss a lawsuit brought by youth plaintiffs who claimed that federal government's fossil fuel policies over the...

This paper uses a model of intergenerational accounting to simulate the intergenerational distribution of oil wealth in Venezuela. Venezuelan oil production does not seem to follow an optimal extraction path. Nevertheless, this is true if we do not consider what the government does with the...

Tanzania is rich with natural resources, which have significant potential to contribute to the country's economic development. Several laws recently passed in Tanzania are dedicated to establishing linkages between foreign firms in natural resource extraction and the local economy. This paper...

In response to growing concerns about the impact of shale gas development, Pennsylvania’s Act 13 of 2012 established an unconventional gas well fee and required the state’s Department of Environmental Protection (DEP) to report on the number of such wells. In this article, we analyze the...

The literature on taxation of rents from nonrenewable resources uses different theoretical assumptions and methods and a variety of empirical observations to arrive at widely diverging conclusions. Many studies use models and methods which disregard uncertainty, investigating distortionary...

We present a medium-term market equilibrium model of the North American crude oil sector via which we develop a scenario analysis to investigate strategies to mitigate the environmental and public-safety risks from crude-by-rail transportation across the United States. The model captures crude...

When provinces raise royalties charged on oil and gas production, the result can be less, not more tax revenues. The authors show how resource-rich provinces would be better off relying more on auctions for exploration and development rights and relying less on royalties levied on output. Oil...

We present a simple model of petroleum exploration and development that can be applied to study the performance of alternative tax systems and identify potential distortions. Although the model is a highly simplified, it incorporates many factors and some of the key tradeoffs that would...