Oil, Gas, and Mineral Law Commons^™

Developing An International Carbon Tax Regime, Steven Specht

Steven Specht

As atmospheric CO2 remains in the range of 400 ppm, it is necessary to find new international coordination to deal with climate change. The best way forward is an international regime of harmonized domestic carbon taxes. By agreeing to a minimum amount of taxation on domestic, point-source producers, money can be set aside for adaptation costs and alternative means of energy production. Finally, such a plan will overcome the problem of non-participation of countries in agreements like the Kyoto Protocol. As this is a treaty dealing with economics and trade, countries can place taxes on imports of non-participatory countries under …

Illusory Control Of State Controlled Resources Through Stabilisation Clauses: Renegotiation Clauses May Save The Contract, Jeffery Ray

Jeffery R Ray

The stabilisation clause, in oil or gas production sharing agreements, is a tool that is used to address investor security. The clause tends to create unintended effects when extraneous events, such as the price of oil, change the market. This article explores the ability, and potential inability, of the renegotiation clause to mitigate extraneous events from destroying the commercial intent of the original bargain.

Repsol, Ypf, And Argentina: A Hypothetical Look At The Pending Icsid Arbitration Over Ypf, Stephen Pelliccia

Stephen Pelliccia

In this paper I will discuss the 2012 expropriation of the Repsol subsidiary, YPF S.A., by the Argentine government and the upcoming ICSID arbitration on the legality thereof. Taking in to account basic tenets of international arbitration law, bilateral investment treaties, and ICSID jurisprudence, I will put forward some of the principal arguments of both parties could make and discuss a likely decision by the ICSID Tribunal. In addition to the ICSID award I will also discuss the difficulties of enforcing ICSID and other arbitral awards against Argentina and will discuss Latin American attitudes towards ICSID in general. Keeping in …

International Trade And Investment Law And Carbon Management Technologies, Shi-Ling Hsu, Nigel Bankes, Anatole Boute, Sarah Mccalla, Steve Charnovitz, Liz Whitsitt, Nicholas Rivers

Shi-Ling Hsu

Reducing emissions of greenhouse gases will require the development of carbon management technologies that are not currently available or that are not currently cost-effective. While market mechanisms such as carbon pricing must play a central role in stimulating the development of these technologies, governmental policy aimed at fostering carbon management technologies and lowering their costs must also play a part. Both types of policies will form part of an optimal greenhouse gas control portfolio.

This article develops a framework of international trade and investment law insofar as they may affect carbon management technologies. While it is commonly perceived that international …

The Key Stone In The Carbon Tariff Wall: The Alberta Oil Sands And The Legality Of Taxing Imports Based On Their Carbon Footprint, Mark L. Belleville

Mark L. Belleville

Can one nation—consistent with international trade law—tax imports or otherwise treat them differently based on the CO2 emitted in another country during production of the import? This Article analyzes the General Agreement on Tariffs and Trade (GATT), relevant World Trade Organization (WTO) decisions, and the considerable amount of scholarship regarding Border Tax Adjustments (BTAs) and concludes that such treatment of imports is legally permissible. In early 2013, the European Union (E.U.) will vote on a proposed rule that seeks to classify crude oil coming into E.U. refineries based on “life-cycle greenhouse gas emissions,” including CO2 emitted during extraction. Canada, seeking …

A New And Improved Energy Reality—It's No Pipedream, Daniel Hare

Daniel Hare

In this paper, I propose an original policy solution to the complicated issue of permitting and regulatory review for cross-border natural resource projects to allow for a smoother, quicker approval process for certain types of projects. I have specifically designed this new procedure so as to focus on political compromise and minimize political partisanship, while instead concentrating on achieving results. By modifying the current regulatory standard to a more streamlined model, deserving cross-border natural resource projects can swiftly gain approval, yet environmental, economic, foreign policy, national security, and other significant concerns will still receive the attention and thorough evaluation they …

Hazardous Substances And Activities, David A. Wirth

David A. Wirth

This piece analyzes and critically evaluates the enormous number and variety of international instruments addressing the regulation of hazardous substances and activities, from consumer products to nuclear power plants. International authorities are categorized according to regulatory theory, ranging from hazard identification and testing to disposal. Other regulatory approaches include limitations on pollutant releases, prevention of and response to industrial accidents, and international trade in toxic chemicals and waste. Multilateral norms originating from global and regional institutions, UN specialized agencies, and non-UN organizations are analyzed. The piece addresses both "hard" (binding or conventional) and "soft" (nonbinding) instruments, correlating legal form with …

The Legal Justifications For A People-Based Approach To The Control Of Mineral Resources In The Democratic Republic Of The Congo, Dunia P. Zongwe

Cornell Law School Inter-University Graduate Student Conference Papers

The Democratic Republic of the Congo (DRC) is endowed with vast mineral wealth. However, although renewed activities in the mining sector ameliorated the DRC’s fiscal position and GDP growth in 2005-07, generally the peoples of the DRC neither participate in nor benefit from the exploitation of mineral resources. The problem is that the exploitation of mineral resources in the DRC go against the interests of the Congolese peoples. To be sure, the Congolese peoples are some of the poorest in the world. The main purpose of this paper is to explore the ways in which the peoples of the DRC …

Yukos Risk: The Double Edged Sword, Joseph Tanega, Dmitry Gololobov

ExpressO

Abstract The article focuses on elucidating the meaning of Yukos risk mainly in terms of corporate bankruptcy litigation in multiple jurisdictions, including, the U.S., U.K., The Netherlands, and Russia. The emphasis is on understanding the various legal theories and the court decisions reached so far in this continuing legal saga.

A Complete Property Right Amendment, John H. Ryskamp

ExpressO

The trend of the eminent domain reform and "Kelo plus" initiatives is toward a comprehensive Constitutional property right incorporating the elements of level of review, nature of government action, and extent of compensation. This article contains a draft amendment which reflects these concerns.

Tough Love: The Dramatic Birth And Looming Demise Of Unclos Property Law (And What Is To Be Done About It), Peter S. Prows

ExpressO

The 1982 United Nations Convention on the Law of the Sea (“UNCLOS”) represents the culmination of thousands of years of international relations, conflict, and now nearly universal adherence to an enduring order for ocean space that is the most significant achievement for international law since the UN Charter. UNCLOS establishes international property law erga omnes that, by legal and political necessity, required a bargained consensus to be effective. This bargain, in essence, provided coastal States with extended but limited jurisdictions, while ensuring that the seabed and its mineral resources beyond were the “common heritage of mankind” that would peaceably and …

Bond Repudiation, Tax Codes, The Appropriations Process And Restitution Post-Eminent Domain Reform, John H. Ryskamp

ExpressO

This brief comment suggests where the anti-eminent domain movement might be heading next.

Linking Natural Resource Exploitation And Primary Health Care In Developing Countries, Alexandros Zervos

ExpressO

In exchange for loans from international financial institutions, natural resources companies should be made contractually responsible for achieving specific primary health care targets in certain developing countries they invest in. Primary health care is crucial for social/economic development, but many developing countries’ governments fail in its provision. Any effort to make natural resources companies responsible for primary health care would need to focus on goal setting, monitoring and legal enforcement. The latter would include both monetary sanctions and incentives tied to specific targets. The challenges facing this project are significant, but none are problematic enough to prevent its implementation.

Breaking The Bank: Revisiting Central Bank Of Denver After Enron And Sarbanes-Oxley, Celia Taylor

ExpressO

No abstract provided.

Partnerships With Monarchs: Univeiling And Re-Examining The Pattern Of "Third World" Economic Development In The Petroleum And Energy Sector, Diane M. Bales

ExpressO

No abstract provided.