IDEAS home Printed from https://ideas.repec.org/a/sae/enejou/v15y1994i4p1-18.html
   My bibliography  Save this article

Toward an Optimal Oil and Gas Leasing System

Author

Listed:
  • Walter J. Mead

Abstract

The four principal leasing systems—work program, royalty, profit share (including rent resource tax), and bonus bidding—are reviewed relative to their efficiency in maximizing and collecting the present value of economic rents. Empirical research is shown to support theoretical conclusions that the most efficient system appears to be bonus bidding, without a fixed royalty, with leases issued in perpetuity, with environmental and other regulations required to pass a benefit/cost test, and with elimination of any nationalistic or other barriers to entry.

Suggested Citation

  • Walter J. Mead, 1994. "Toward an Optimal Oil and Gas Leasing System," The Energy Journal, , vol. 15(4), pages 1-18, October.
    • Handle: RePEc:sae:enejou:v:15:y:1994:i:4:p:1-18
    DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No4-1
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.5547/ISSN0195-6574-EJ-Vol15-No4-1
    Download Restriction: no
    File URL: https://libkey.io/10.5547/ISSN0195-6574-EJ-Vol15-No4-1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:enejou:v:15:y:1994:i:4:p:1-18. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.