We review the issues involved in designing a mechanism for allocating resource rights. We focus on the case of exploration and development rights for oil and gas leases in U.S. federal lands to highlight the tradeoffs at play. The main issues concern the design of the lease contract, the design...

This Paper assessed the "Impact of Oil and Gas Resource Exploration on the Environment" of Delta State oil producing communities of Nigeria. It examined the problems associated with Oil exploration and its mitigation. Primary and Secondary data were used to source data for the set objectives....