It has often been argued that countries that produce natural resources mobilize less non-resource tax revenues than other countries. In this paper, we exploit the exogenous variation in the timing of giant oilfield discoveries to estimate the causal impact of natural resources on taxation. The...

For a long time, Norway has had resource rent taxes on oil- and natural gas extraction as well as on hydropower generation. Recently, resource rent taxes have also been levied on aquaculture, and wind power generation. This paper, gives a short overview of the rent theory, the basis for rent...

This study examines the intricate relationship between natural resource abundance, with a specific focus on oil production, and its impact on economic growth in Ghana. Through the application of the robust Fully Modified OLS methodology and using data spanned from 1960-2021 the research...

I study the impact of giant oil field discoveries on default risk. I document that interest rate spreads of emerging economies increase by 1.3 percentage points following a discovery of median size. I develop a sovereign default model with investment, three-sector production, and oil...

Of all the contracts used in the oil and gas industry, none is as important as the oil and gas lease. It is the foundational instrument in oil and gas and a required prerequisite to development for those who do not own the mineral estate. Its uniqueness arises in that unlike most other oil and...

We examine the response of the news-based Corruption Reflection Index (CRI) to positive shocks in oil revenues in Iran. Using annual data from 1962 to 2019, we employ the Vector Autoregressive (VAR) model and analyze impulse response functions. Our findings reveal a positive and significant...

Mineral oil hydrocarbons (MOH) are a diverse group of chemical compounds mainly derived from petroleum distillation and refining. They are divided into two main categories based on their chemical structure: Mineral oil saturated hydrocarbons (MOSH) Mineral oil aromatic hydrocarbons (MOAH) Health...

Natural resource discoveries lead to anticipation, uncertainty, and potentially large revenue windfalls for local governments. I leverage exogenous subnational variation in offshore oil discoveries in Brazil to identify dynamic effects of news and revenue shocks on local public finances, public...

The location of oil reserves plays an essential role in policymakers’ incentives to coordinate supply-side climate policy. In this paper I use data on the location of all historic onshore petroleum discoveries to establish a new stylized fact: Economically developed areas are many times more...

This study tries to interrogate the unfolding skirmishes between Gombe and Bauchi States arising from competition for claim over ownership of the recently found oil endowed resources in the Kolmani area that cut across them. The article is situated within the context of Max Weber Conflict theory...

This study tries to interrogate the unfolding skirmishes between Gombe and Bauchi States arising from competition for claim over ownership of the recently found oil endowed resources in the Kolmani area that cut across them. The article is situated within the context of Max Weber Conflict theory...

This paper evaluates the existence of a resource curse on political regimes using the Synthetic Control Method. Focusing on 12 countries, we compare their democracy level with the weighted democracy level of countries that have not experienced oil shocks and have similar pre‐event...

Implied covenants are obligations that are not expressly imposed by a contract, but which courts nevertheless find are binding on one or more parties to the contract. Courts routinely hold that oil and gas lessees are bound by several implied covenants. This Article reviews the various implied...

"Petroleum reserves are critical to the oil and gas industry, representing the recoverable amount of oil, gas, and natural gas liquids over time. Reserve forecasts are used by companies for planning, budgeting, and capital allocation, while energy lenders, investors, and government agencies rely...

Future production forecasts are the final output of the uncertainty quantification workflows in the oil and gas industry and are essential for decision making. Exploration and production companies have every interest in being unbiased in their forecasts and getting uncertainty estimates right,...

The recent calls for the revival of the Oil Price Stabilization Fund (OPSF) are tantamount to a call for a policy reversal, that is, reversal of the downstream oil industry deregulation that began in 1998. The history of the OPSF presents important lessons for policymakers. Petroleum price...

We investigate the role of oil wealth in economic institutions for a sample of 150 countries between 1960 and 2014. We find that higher levels of oil wealth result in weak economic institutions in the form of low levels of private property rights protection. This result is robust to alternative...

Oil Spaces traces petroleum’s impact through a range of territories from across the world, showing how industrially drilled petroleum and its refined products have played a major role in transforming the built environment in ways that are often not visible or recognized. Over the past century...

This paper investigates the dynamic impact of natural resource discoveries on government debt sustainability. We use a 'natural experiment' framework in which the timing of discoveries is treated as an exogenous source of within-country variation. We combine data on government debt, fiscal...