The valuation of crude oil and gas reserves is a critical step in pricing crude oil and gas producing firms. This is of interest both to academics and practitioners who are called upon to value these firms. It is also of interest to regulators, particularly in their oversight of mergers and...

If we are to be successful in our goal of generating legal systems that genuinely serve to protect the integrity of Earth's ecosystems, it will be necessary to confront directly the growth model of progress that is currently driving the global economy toward ecological catastrophe. Since the...

According to a wide literature, oil has a negative effect on the level of democracy because of induced economic and political distortions. At the same time, however, oil fosters economic development and people's general life conditions. Using 30 years of international data on 34 oil countries,...

With the global economy heading towards a severe oil crunch probably by 2015 or thereabouts, an analysis of Saudi oil fundamentals is causing the world disquiet and worry bordering on panic. Oil-importing nations have long treated Saudi Arabia as an infinitely deep well of crude oil supplies....

The Hotelling rule argues that the price for a non-renewable resource adjusts to the shadow value of the resource, reflecting its remaining availability. This study provides an empirical test of this hypothesis. It investigates whether the price of crude oil does adjust to unexpected news about...

Beginning in early 2011, crude oil production in the U.S. Midwest and Canada surpassed the pipeline capacity to transport it to the Gulf Coast where it could access the world oil market. As a result, the U.S. "benchmark" crude oil price in Cushing, Oklahoma, declined substantially relative to...

The OPEC Website holds an interesting FAQS (Frequently Asked Questions) about oil industry. The questions are very simple. Anybody could ask them. And the answers are still as simple as could be. You do not need to be an economist to understand these quite complicated issues - as we used to...

This working paper, prepared by the U.S. Department of Housing and Urban Development (HUD), Office of Policy Development and Research (PD&R), Economic Market Analysis Division Gas/Oil Task Force (GOTF), examines the impact of oil and gas exploration on the affordable rental-housing market. The...