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[en] Although there is no decline in current international petroleum licensing activity, attention is drawn to the fact that it is concentrated in certain countries, many of them amongst the less geologically prospective. Among the factors other then geological prospectivity which promote a successful licensing and exploration environment, the most important is the fiscal terms offered. While countries which are highly prospective geologically may stiffen terms and still attract exploration companies because they feel they can make major discoveries, any decline in prospectivity needs to be accompanied by a matching change in fiscal terms to maintain interest. Less prospective countries which, hitherto, have created favourable investment conditions may however find that further declines cannot be reversed by attractive fiscal terms. (7 figures, 3 tables). (UK)
[en] Highlights: • Environmental collaboration is championed as the solution to water problems. • We conducted an international systematic literature review of empirical studies. • 22 broad themes were found to influence the success and failure of effective collaboration. • Importance, agreement, and compatibility of the themes vary greatly. • More research is needed on how to prioritise different themes and the politics at play. - Abstract: Bold and inventive solutions are urgently needed to safeguard the future use of water. In response, collaborative-innovation is increasingly championed. If stakeholders including water utilities, supply-chain companies, research institutions and local communities work together, share their experiences and pool ideas, meaningful change could happen, it’s argued. But effective collaboration is far from easy. For every incentive that drives collaboration forward, another barrier blocks its path. Whilst the literature offers many possible factors that influence the success (or failure) of collaborative-innovations, it remains unclear which factors are most important, where the highest agreement and disagreement exists, and if accommodating one factor creates problems for another. This is important because its not always practical, nor necessary, to apply everything from the academic literature. In this paper, we report findings from an international systematic literature review that brings together a range of studies that cross the water collaboration and water innovation divide. We identify 22 broad themes that are spread (unevenly) across the entire collaborative-innovation process; highlight how the level of attention given to each theme varies greatly; and where disagreement exists. Our research provides practical insights on how to create more effective collaborative-innovations in water and where future research should be directed.
[en] Clean energy technologies that cost more than fossil fuel technologies require support through research and development (R&D). Learning-by-doing relates historical cost decreases to accumulation of experience. A learning investment is the amount of subsidy that is required to reach cost parity between a new technology and a conventional technology. We use learning investments to compare the relative impacts of two stylized types of R&D. We define curve-following R&D to be R&D that lowers costs by producing knowledge that would have otherwise been gained through learning-by-doing. We define curve-shifting R&D to be R&D that lowers costs by producing innovations that would not have occurred through learning-by-doing. We show that if an equal investment in curve-following or curve-shifting R&D would produce the same reduction in cost, the curve-shifting R&D would be more effective at reducing the learning investment needed to make the technology competitive. The relative benefit of curve-shifting over curve-following R&D is greater with a high starting cost and low learning rate. Our analysis suggests that, other things equal, investments in curve-shifting R&D have large benefits relative to curve-following R&D. In setting research policy, governments should consider the greater benefits of cost reductions brought about by transformational rather than incremental change. - Highlights: • A stylized analysis of two types of R&D investment provided. • Other things equal, curve-shifting R&D is more effective than curve-following R&D. • Governments should consider the benefits of transformational change in setting research priorities.
[en] While the potential adverse effects of fossil fuel subsidy reform are well documented for households, the literature has largely ignored the effect of subsidy reform on firms’ competitiveness. This paper discusses how firms are affected by, and respond to, energy price increases caused by subsidy reforms. It highlights that cost increases (both direct and indirect) do not necessarily reflect competitiveness losses, since firms have various ways to mitigate and pass on price shocks. This paper presents and discusses direct and indirect transmission channels for price shocks, and firms’ response measures: absorbing cost shocks into profits, inter-fuel substitution, increasing energy and material efficiency, and passing on price increases. It argues that further micro-econometric studies using enterprise surveys are essential for quantifying the role of these mechanisms, and for designing policy measures that ensure that competitiveness losses due to subsidy reforms are minimised. - Highlights: • Concerns about competitiveness can be a key political obstacle to subsidy reform. • Net impacts are determined by (in-)direct price shocks, and four response measures. • Policy makers need to understand impacts on firms to design effective reforms. • Enterprise surveys are key for understanding and quantifying impacts on firms.
[en] This article assesses the impact of recent tax exemption legislation as a vehicle for the attraction of investment in the quest for the development of international energy in Nigeria, particularly oil and gas. It seeks to argue that generous tax incentives are the most successful method of inducement of foreign investors, judging from the rising profile in the expansion of investment in the gas sector and the attendant increase in world trade. It attempts to assert that tax incentives alone, without the combination of other favourable factors, like political stability, observance of the rule of law and deregulation or trade liberalisation, cannot produce the desired result of local industrialisation and integration into the world economy. (author)
[en] The Norwegian petroleum tax system builds on the general business tax system. A reform of the petroleum tax system was therefore prompted by the reform of the ordinary company tax system in Norway. The reform of the general company taxation system made a reform of the petroleum taxation system necessary. As the petroleum tax system had to be changed, it was natural to review the incentive structure of the system to see if it could be improved. These two elements formed the foundation of the work on petroleum tax reform. (Author)
[en] This study offers Organization of Petroleum Exporting Countries (OPEC) member nations a crude oil pricing currency basket based on currency liquidity, in contrast with prior emphasis on OPEC trading patterns. Motivating the search for an alternative US dollar pricing of crude oil is the significant and inverse relationship (r=-0.82, p<0.01) between the US dollar major currencies index and crude oil price over the period January 1999-March 2009. A dynamically weighted petro-dollar currency basket is proposed based on the five currency claims (US dollar, Euro, British pound, Japanese yen and Swiss franc) and their varying proportions of foreign exchange reserves held by central banks. The major currencies US dollar index is compared against the proposed petro-dollar index to reveal an average US$8.1 billion annual gain in favor of the petro-dollar currency basket, offering OPEC members a revenue stream of diversified and highly liquid currencies to transition away from complete dependence on the US dollar crude oil pricing. The proposed petro-dollar crude oil pricing schema offers OPEC a crude oil price dynamically denominated in currencies reflecting the global use and importance of crude oil. This paper concludes with implementation issues facing a move toward the dynamically weighted petro-dollar crude oil pricing schema.
[en] Development is the enlargement of people's choices. Optimal subsidy policy is intended to create the right incentives for each of the value chain participants. This paper contends that the interest subsidy offered by the Indian federal Ministry of New and Renewable Energy for solar thermal systems, through mainstream banking channels is superior in intent and outcome compared to the capital subsidy as currently offered for solar PV systems, routed through government controlled delivery channels. The interest subsidy enhances innovation, improves service delivery and expands the range of product available to consumers enjoying a wide range of endowments, thus leading to more inclusive development. The simple monopoly model developed by Atkinson [Atkinson AB. Capabilities, exclusion and the supply of goods. In: Basu K, Pattanaik P, Suzumura K, editor, Choice, Welfare and Development. Oxford University Press; 1995] is applied to the context of solar home systems to demonstrate price reduction and choice expansion in a liberalized market, facilitated by an interest subsidy scheme. (author)
[en] Current US policies have failed to significantly reduce the country's enormous gasoline consumption. A new multipronged approach comprising a gasoline tax, attribute based CAFE standards, and other supplementary initiatives such as alternative fuels and public transit is required. In combination, these policies can achieve a far greater reduction in gasoline consumption than any one could alone. Only through such a broad range of policies can serious headway be made to reduce the current overdependence. (Author)