Intergenerational Equity, the Public Trust Doctrine, Norway and North Sea Oil

Basu, Rahul (2020): Intergenerational Equity, the Public Trust Doctrine, Norway and North Sea Oil.

Abstract

Norway’s management of its North Sea oil endowment, especially its future generations Oil Fund, is considered the global best practice. Some practice aspects such as no flaring of gas or a moderate pace of extraction go against standard economic theory. The public trust doctrine in law provides a useful lens to understand Norway’s model, and provides lessons for mineral owners world-wide.

• Item Type: MPRA Paper
• Language: English
• Keywords: Intergenerational Equity; Public Trust Doctrine
• Subjects: K - Law and Economics > K0 - General; L - Industrial Organization > L7 - Industry Studies: Primary Products and Construction > L72 - Mining, Extraction, and Refining: Other Nonrenewable Resources; N - Economic History > N5 - Agriculture, Natural Resources, Environment, and Extractive Industries; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development; P - Economic Systems > P2 - Socialist Systems and Transitional Economies; P - Economic Systems > P4 - Other Economic Systems > P48 - Political Economy ; Legal Institutions ; Property Rights ; Natural Resources ; Energy ; Environment ; Regional Studies; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q3 - Nonrenewable Resources and Conservation

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