The price of oil has fluctuated wildly in the last few years and has placed a spotlight on oil investing vehicles. Of particular interest has been the discrepancy between oil investing returns and the hypothetical returns to spot oil. We attempt to understand the source of that discrepancy by...

The chapter refers to the issue of oil prices in the context of international investment arbitrations whose jurisdiction is based on bilateral investment treaties (BITs) or the Energy Charter Treaty (ECT). It first analyzes State and industry practice and as well as the legal conclusions of...