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Risk-Bearing and the Choice of Contract Forms for Oil Exploration and Development

Charles R. Blitzer, Donald R. Lessard, and James L. Paddock

Year: 1984
Volume: Volume 5
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No1-1
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Abstract:
The structure of taxes and fiscal contracts between host countries and foreign companies has major implications for the success of oil development projects. This is because of several key characteristics of such projects: large investment outlays, long lead times to project completion, and long periods of project output and payout. These characteristics usually are coupled with an incomplete sharing of information and technology, and significant differences in the ability of the various parties to bear the risks involved. These characteristics often lead to unstable contracts and, in many cases, to the failure to develop projects that are economically attractive in aggregate terms but unattractive to one or both parties because of uncertainties over sharing project risks and returns.



Energy Demand in Jordan: A Case Study of Energy-Economy Linkages

Charles R. Blitzer

Year: 1984
Volume: Volume 5
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No4-1
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Abstract:
Higher world oil prices in the past decade have caused serious economic disruptions in most developing countries, which as a group are highly dependent on imported oil in relation to both the sizes of their economies and their total imports. I Increased oil bills have frequently led to lower aggregate growth rates, more severe balance-of-payments and debt problems, disruptions in energy-using sectors, and domestic inflation. Whether or not world oil prices resume their upward spiral, the oil-importing developing countries will continue to face serious macro-economic adjustment problems related in one way or another to energy.



An Analysis of Fiscal and Financial Impediments to Oil and Gas Exploration in Developing Countries

Charles R. Blitzer, Panos E. Cavoulacos, Donald R. Lessard, and James L. Paddock

Year: 1985
Volume: Volume 6
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-NoSI-6
No Abstract



Energy-Economy Interactions in Developing Countries

Charles R. Blitzer

Year: 1986
Volume: Volume 7
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol7-No1-3
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Abstract:
Since 1973 the global economy has been going through a difficult transition period. After a long period of growth, characterized in part by low oil prices and increased reliance on production in a few large oil-exporting countries, it is moving toward a new equilibrium characterized by substantially higher energy costs and an energy supply base more diversified in terms of fuels as well as country import sources. This transition period is far from over. Although developing countries use only a small percentage of the world's oil (about one-sixth), their economic performance has been adversely affected by higher energy costs. Most developing countries import oil and have been caught in a dilemma of increasing foreign debt and/or reducing economic growth. On average, in 1981 the oil-importing LDCs spent 38 percent of their export earnings on imported oil, and domestic energy investments accounted for about 25 percent of aggregate investment.These percentages may increase because of industrialization plans and diminishing supplies of traditional fuels for household and agricultural use.





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