Abstract
AbstractAn analytical framework of the Outer Continental Shelf lands petroleum investment and production decision process is developed and utilized to evaluate public resource leasing policy alternatives. The impacts of alternative lease systems upon rates of production, investment levels, total resource recovery, and government revenue are presented and discussed. Trade‐offs implicit in various leasing strategies and the geophysical‐institutional‐engineering‐economic interactions which must be accounted for in public resource management are pointed out. Possible modifications in the current institutional system are suggested.
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