OCS (Outer Continental Shelf) petroleum PIE
Technical Report
·
OSTI ID:6448115
This report analyzes a range of alternatives for managing Outer Continental Shelf (OCS) petroleum from the point of view of national income, public income, and developer income. The economic value of the resource is reviewed, and estimates of unit resource costs obtained for a range of find sizes, water depths, and design wave heights. The basic result is that the economic rent associated with yet-to-be-discovered OCS petroleum could easily be in the hundreds of billions of dollars. Management alternatives examined include work obligation permitting, bonus bidding, royalty bidding, profits bidding, and public exploratory drilling followed by bonus bidding. Special emphasis is given the latter option and the ramifications and problems of this system examined in some detail.
- Research Organization:
- Massachusetts Inst. of Tech., Cambridge (USA)
- OSTI ID:
- 6448115
- Report Number(s):
- MITSGNN-75-10; NOAA-7504100S
- Country of Publication:
- United States
- Language:
- English
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