Environmental and land use regulation in nonrenewable resource industries: Implications from the Wyoming checkerboard

    Authors

    M. Kunce; S. Gerking;W. Morgan

    Comments

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    Abbreviated Journal Title

    Land Econ.

    Keywords

    EXHAUSTIBLE RESOURCES; OIL; EXPLORATION; DEPLETION; GAS; PETROLEUM; COSTS; EXTRACTION; ECONOMICS; POLICY; Economics; Environmental Studies

    Abstract

    This paper examines how the oil and gas industry responds to changes in environmental and land use regulations pertaining to drilling by examining differences in regulatory practices on federal and private land. A simulation model for Wyoming is used to estimate losses of oil and gas output over the next 60 years because of higher drilling costs found on federal property. The present value of these losses comes to about $800 million. Also, this case study is of interest because it shows that future production is more sensitive to changes in environmental regulations that apply to drilling than to changes in severance taxes levied on production.

    Journal Title

    Land Economics

    Volume

    80

    Issue/Number

    1

    Publication Date

    1-1-2004

    Document Type

    Article

    Language

    English

    First Page

    76

    Last Page

    94

    WOS Identifier

    WOS:000188644900005

    ISSN

    0023-7639

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