Petroleum Industry Regulation within Stable States

This book addresses the challenges facing stable democratic states in dealing with oil companies in order to secure general welfare gains. Political stability means that such states should be able to take a longer term perspective. The principal topic considered is petroleum industry regulation but the insights extend to other non-renewable natural resources. A particular issue addressed is the question of tax competition between producing countries. Within the context of company/government relations the book considers such current topics as the challenges of dealing with merged companies and the strategic choices facing tax authorities. Contents: Introduction, Solveig Glomsrød and Petter Osmundsen; Optimal petroleum taxation subject to mobility and information constraints, Petter Osmundsen; Critical factors in transnational oil companies localisation decisions - clusters and portfolio optimisation, Hans Jarle Kind, Petter Osmundsen and Ragnar Tveterås; The taxing task of taxing transnationals, Thomas A. Gresik; Substantial petroleum wealth: does monetary policy regime matter?, Torbjørn Eika and Knut Moum; Saving petroleum wealth: tales of three jurisdictions, Rögnvaldur Hannesson; Petroleum policy and prospects in the UK continental shelf, Alex Kemp and Linda Stephen; The petroleum tax system revisited, Nina Bjerkedal and Torgeir Johnsen; Index.