Innovation-spurred growth in oil and gas production from shale formations led the U.S. to become the global leader in producing oil and natural gas. Because most shale is on private lands, drilling companies must access the resource through private lease contracts that provide a share of the...

Widespread ownership of oil and natural gas resources by private individuals, which is unique to the United States, entitles those citizens to a share of the proceeds from production. This share is typically specified as a royalty rate in leases with producers that is based on gross revenues...

Advocates in several countries have promoted a "green recovery" from the pandemic, with an emphasis on measures to address climate objectives. We evaluate proposals for the United States and find that as stated, ambitious plans to further cut emissions from transportation and electricity will...