Oil exporters typically do not consider below-ground assets when allocating their sovereign wealth fund portfolios, and … ignore above-ground assets when extracting oil. We present a unified framework for considering both. Subsoil oil should alter … any unhedged volatility must be managed by precautionary savings. If oil prices are pro-cyclical, oil should be extracted …

Oil exporters typically do not consider below-ground assets when allocating their sovereign wealth fund portfolios, and … ignore above-ground assets when extracting oil. We present a unified framework for considering both. Subsoil oil should alter … any unhedged volatility must be managed by precautionary savings. If oil prices are pro-cyclical, oil should be extracted …

Many oil exporters accumulate large sovereign wealth funds, though their portfolio allocation does not take into … account below-ground assets, like oil. Similarly, the above-ground portfolio does not affect the decision to extract oil. This … paper shows that subsoil oil wealth should change a country's above-ground asset allocation in two ways. First, the holding …

, including the growing demand for oil, which has prompted a resurgence of resource nationalism and the revitalization of national … oil companies in the region. Regional oil policy has also been boosted by the growth of China, which is now a major player …

The paper presents and estimates a model of the prices of oil and other storable commodities, a model that can be …

of allocations and distribution of the oil rent is essential to the short to medium term sustainability of the new …During 2004-06 Bolivia experienced a five-fold increase in oil revenues due to tax/ contractual innovations, higher … decentralize expenditure to local governments and nationalization of the oil industry. This paper presents a model of fiscal …

The epicenter of Nigeria’s deadly political violence is the clash for benefits from petroleum, more than 90 percent of … pressure from economic stagnation and the highstakes corruption and rent seeking for the control of oil. Delta grievances … derive from the lack of community control and land rights, the little revenue for petroleum’s producing region, and the …

The objective of this paper is to examine the responsiveness to price incentives of petroleum exploration, the … generation of proven reserves and the production out of reserves in the United States. First, a theoretical framework of oil …

OIL AS AN ENERGY PROPELLER, IS THE LARGEST INTERNATIONALLY TRADED COMMODITY THAT SHOWS HIGHLY VISIBLE INTERPLAY OF … DOUBT DEMANDS A WELL ARTICULATED OIL POLICY FOR AN OIL PRODUCING NATION. THUS, THE THRUST OF THE PAPER WAS TO EVALUATE THE … STATE OF THE NIGERIA'S OIL POLICY IN THE 1970S/80S. THIS PAPER THEREFORE ARGUES THAT IN THE OIL POLICY FORMULATION PROCESS …