search query: @author Kemp, A. G. / total: 4
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| Author: | Kemp, A. G. |
| Title: | An assessment of UK North Sea oil and gas policies : twenty-five years on. |
| Journal: | Energy Policy
1990 : SEP, VOL. 18:7, p. 599-623 |
| Index terms: | ECONOMIC POLICY UNITED KINGDOM NORTH SEA OIL NORTH SEA GAS |
| Language: | eng |
| Abstract: | It is now over 25 years since the first licenses for petroleum exploration in the UK continental shelf were issued. North Sea oil and gas exploitation has developed into a major industry since that time and has great impact on the UK economy. In the early years discretionary licensing system was used, the taxation arrangements have collected a high share of the economic rents to the state. Depletion rates have been very fast and largely market-driven. The fiscal structure applied to North Sea oil and gas has become economically much more efficient over the last few years. While competition is still restricted within the current framework, the industrial market will become much freer. |
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