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The Economics of Outer Continental Shelf Leasing

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  • Robert J. Kalter
  • Thomas H. Stevens
  • Oren A. Bloom

Abstract

An analytical framework of the Outer Continental Shelf lands petroleum investment and production decision process is developed and utilized to evaluate public resource leasing policy alternatives. The impacts of alternative lease systems upon rates of production, investment levels, total resource recovery, and government revenue are presented and discussed. Trade-offs implicit in various leasing strategies and the geophysical-institutional-engineering-economic interactions which must be accounted for in public resource management are pointed out. Possible modifications in the current institutional system are suggested.

Suggested Citation

  • Robert J. Kalter & Thomas H. Stevens & Oren A. Bloom, 1975. "The Economics of Outer Continental Shelf Leasing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(2), pages 251-258.
    • Handle: RePEc:oup:ajagec:v:57:y:1975:i:2:p:251-258.
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    File URL: http://hdl.handle.net/10.2307/1238500
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    References listed on IDEAS

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    1. Paul W. MacAvoy & Robert S. Pindyck, 1973. "Alternative Regulatory Policies for Dealing with the Natural Gas Shortage," Bell Journal of Economics, The RAND Corporation, vol. 4(2), pages 454-498, Autumn.
    2. M. Allais, 1957. "Method of Appraising Economic Prospects of Mining Exploration over Large Territories: Algerian Sahara Case Study," Management Science, INFORMS, vol. 3(4), pages 285-347, July.
    3. Kuller, Robert G & Cummings, Ronald G, 1974. "An Economic Model of Production and Investment for Petroleum Reservoirs," American Economic Review, American Economic Association, vol. 64(1), pages 66-79, March.
    4. Robert M. Solow, 1974. "The Economics of Resources or the Resources of Economics," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 12, pages 257-276, Palgrave Macmillan.
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    Cited by:

    1. Geoffrey Black, 2000. "The incentive effect in share contracts: The case of finite resources," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 6(3), pages 461-474, August.
    2. Foders, Federico, 1985. "Firm behaviour under alternative bidding systems for US OCS hydrocarbon leases," Kiel Working Papers 223, Kiel Institute for the World Economy (IfW Kiel).
    3. McKitrick, Ross, 2017. "Global energy subsidies: An analytical taxonomy," Energy Policy, Elsevier, vol. 101(C), pages 379-385.

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