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Concentration Trends in the Gulf of Mexico Oil and Gas Industry

Charles F. Mason

Year: 2016
Volume: Volume 36
Number: Adelman Special Issue
DOI: 10.5547/01956574.36.SI1.cmas
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In this paper, I evaluate patterns of concentration in the Gulf of Mexico oil and gas industry, one of the most important sectors for US production over the past few decades. In the 1990s, production in the Gulf was quite concentrated, and was dominated by large oil companies. But over the past decade or so this concentration has eroded, with recent levels consistent with an unconcentrated industry. These patterns apply for drilling and leasing as well, and are relevant to both shallow and deep water. The overall picture is an industry with strong competition for leases, drilling and production.

Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond

Klaus Mohn

Year: 2019
Volume: Volume 40
Number: Number 3
DOI: 10.5547/01956574.40.3.kmoh
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This study explores potential implications of Arctic oil and gas exploration for public finance, with the Norwegian Lofoten region as a valuation case. A model is calibrated to turn oil and gas resource estimates into projections for investment, production, and net cash flows, which are discounted to assess the direct impact for the government budget. With the Norwegian oil fund mechanism and fiscal policy rule, Lofoten oil and gas revenues could add fiscal capacity in the range of 0.1-2.4 per cent of the current government budget, implying a permanent increase in annual government spending (or tax relief) of 24-220 USD per capita. Corresponding implications for other resource-rich countries in the Arctic depend on their resource potential and the relative role of oil and gas in their economy.

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