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Taxation of Oil and Gas Revenues of Four Countries

John Helliwell, Philip K. Verleger, Jr., John Mitchell, Thomas R. Stauffer, James S. Moose, John F. Helliwell

Year: 1982
Volume: Volume 3
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol3-No2-2
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Abstract:
Energy taxation is more complex and more controversial in Canada than in most or all other countries, for three main reasons. First, under the constitution, most natural resources are owned by the provinces, with important powers of regulation and taxation in the hands of the provincial and federal governments. Second, energy resources are very unevenly distributed among the provinces. Alberta, with less than 10 percent of Canada's population, accounts for 85 percent of Canada's nonfrontier onshore crude oil and natural gas. Finally, the Canadian oil and gas industry is largely foreign-owned and foreign-controlled.



Electricity Demand in Primary Aluminum Smelting

Knut Anton Mork

Year: 1982
Volume: Volume 3
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol3-No3-5
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Abstract:
Primary aluminum smelting is one of the giant energy users among the manufacturing industries. With current technology, the smelting is done by an electrolytic process requiring as much as 13 to 19 megawatt-hours (MWh) of direct-current electricity per metric ton of aluminum metal.





Optimal Choice of R&D Strategy for Enhanced Recovery from Petroleum Reservoirs

Gunnar Stensland and Arild N. Nystad

Year: 1987
Volume: Volume 8
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol8-No1-8
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Abstract:
Off the coast of Norway is a huge, undeveloped petroleum reservoir. The exploitation of this resource is a challenge to the oil industry both because of its specific reservoir geology and its deep water location. One of the decisions that must be made regarding this field is the choice of the injection method.Our report discusses decision rules for the choice of R&D strategies for methods of supplementary recovery.



Rent Taxes on Norwegian Hydropower Generation

Eirik S. Amundsen, Christian Andersen, Jan Gaute Sannarnes

Year: 1992
Volume: Volume 13
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol13-No1-6
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Abstract:
In Norway, two obstacles to the introduction of a hydro rent tax are about to vanish, the old accounting system for public utilities and the system of administered non-rent prices. The tax authorities are now searching for a viable rent tax system. In this paper we consider detailed effects of six tax systems on realistically modelled marginal and highly profitable power plants. In addition to the existing "percentage system" we examine the ordinary corporate tax system, a special electricity income tax, a higher rate of proportional income tax, an excise tax and a resource rent tax. These systems are compared and evaluated with respect to neutrality, sensitivity to the amount of economic rent generated in a plant, cost-consciousness, stability of tax rates, stability of taxes paid, uncertainty of tax revenues and administrative costs. We conclude that the existing Norwegian tax system for electricity generation is not suited for taxing hydro rent since it seriously violates several of these criteria. The existing system ought to be replaced by a resource rent tax either as a pure system or in combination with a corporate income tax system.





Developing Futures Markets for Electricity in Europe

Eirik Schroder Amundsen and Balbir Singh

Year: 1992
Volume: Volume 13
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol13-No3-5
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Abstract:
Risk sharing instruments, which allow consumers and producers to hedge their price-risk, are additional essential elements of the electricity reorganization process presently taking place in Europe. This paper involves tin analysis of the feasibility of establishing futures markets in the electricity sector in general and with special emphasis on steps undertaken in the United Kingdom and Norway. Even though there seems to be sufficient price uncertainty to warrant the development of futures markets, there remains the question of whether the underlying new spot-markets are yet sufficiently competitive and well-functioning. Monopolistic elements in electricity generation make it doubtful whether efficiency can be obtained through the intended (Bertrand) price competition in the spot-market. Additional problems may arise from the potential adverse response of dominant multi-objective public enterprises to the new futures markets.



A Climate Treaty and the Norwegian Economy: A CGE Assessment

Anne Brendemoen and Haakon Vennemo

Year: 1994
Volume: Volume15
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No1-5
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Abstract:
This paper examines the impact of an international climate treaty on 61 single country-Norway. A disaggregate computable general equilibrium (CGE), model is used. We discuss the treaty's effects on main macroeconomic indicators, economic growth, distributional impacts, the impact on pollutant emissions other than CO2 and the secondary benefits of this reduction. The results suggest that CO2 emissions will decrease compared to the current level, The distributional impacts are modest. Increases in secondary benefits recoup almost one half of the loss in private consumption. We characterize the uncertainty of this estimate.



Social Benefits of Financial Investment Support in Energy Conservation Policy

Torleif Haugland

Year: 1996
Volume: Volume17
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol17-No2-5
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Abstract:
This paper examines the costs and benefits of a Norwegian energy conservation program that provided financial support for investments in energy efficiency. Participants in the program included industry, commerce, public services and households. Evaluation of the program shows that about 70% of the participants were "free riders' who would have invested in efficiency improvements even in the absence of the program. The economic efficiency was further reduced by economic distortions caused by taxes needed to finance the program. However, the energy savings did give environmental benefits through reduced atmospheric emissions, although this effect was somewhat diluted through a "conservation rebound," where the actual reduction in energy consumption was less than the theoretical savings. The energy conservation program is also highly sensitive to assumptions about the economic lifetime of the investments.



Zonal Pricing in a Deregulated Electricity Market

Mette Bjorndal and Kurt Jornsten

Year: 2001
Volume: Volume22
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol22-No1-3
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Abstract:
In the deregulated Norwegian electricity market a zonal transmission pricing system is used to cope with network capacity problems. In this paper we illustrate some of the problems with the zonal pricing system as it is implemented in Norway. Using small network examples we illustrate the difficulties involved in defining the zones, the redistribution effects of the surplus that a zonal pricing system has, as well as the conflicting interests concerning zone boundaries that are present among the various market participants. We also show that a zone allocation mechanism based on nodal prices does not necessarily lead to a zone system with maximal social surplus. Finally, we formulate an optimization model that when solved yields the zone system that maximizes social surplus given a pre-specification of the number of zones to be used.




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