Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond
This study explores potential implications of Arctic oil and gas exploration for public finance, with the Norwegian Lofoten region as a valuation case. A model is calibrated to turn oil and gas resource estimates into projections for investment, production, and net cash flows, which are discounted t...
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ftunivstavanger:oai:uis.brage.unit.no:11250/3046301 2023-06-11T04:07:32+02:00 Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond Mohn, Klaus 2019-09-04T09:38:50Z application/pdf https://hdl.handle.net/11250/3046301 https://doi.org/10.5547/01956574.40.3.kmoh eng eng IAEE Mohn, K. (2019). Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond. The Energy Journal, 40(3), 199-226. urn:issn:0195-6574 https://hdl.handle.net/11250/3046301 https://doi.org/10.5547/01956574.40.3.kmoh cristin:1721324 Navngivelse 4.0 Internasjonal http://creativecommons.org/licenses/by/4.0/deed.no The author 199-226 40 Energy Journal 3 VDP::Samfunnsvitenskap: 200 Peer reviewed Journal article 2019 ftunivstavanger https://doi.org/10.5547/01956574.40.3.kmoh 2023-05-29T16:03:04Z This study explores potential implications of Arctic oil and gas exploration for public finance, with the Norwegian Lofoten region as a valuation case. A model is calibrated to turn oil and gas resource estimates into projections for investment, production, and net cash flows, which are discounted to assess the direct impact for the government budget. With the Norwegian oil fund mechanism and fiscal policy rule, Lofoten oil and gas revenues could add fiscal capacity in the range of 0.1-2.4 per cent of the current government budget, implying a permanent increase in annual government spending (or tax relief) of 24-220 USD per capita. Corresponding implications for other resource-rich countries in the Arctic depend on their resource potential and the relative role of oil and gas in their economy. publishedVersion Article in Journal/Newspaper Arctic Arctic Lofoten University of Stavanger: UiS Brage Arctic Lofoten The Energy Journal 40 3 |
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Open Polar |
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University of Stavanger: UiS Brage |
op_collection_id |
ftunivstavanger |
language |
English |
topic |
VDP::Samfunnsvitenskap: 200 |
spellingShingle |
VDP::Samfunnsvitenskap: 200 Mohn, Klaus Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond |
topic_facet |
VDP::Samfunnsvitenskap: 200 |
description |
This study explores potential implications of Arctic oil and gas exploration for public finance, with the Norwegian Lofoten region as a valuation case. A model is calibrated to turn oil and gas resource estimates into projections for investment, production, and net cash flows, which are discounted to assess the direct impact for the government budget. With the Norwegian oil fund mechanism and fiscal policy rule, Lofoten oil and gas revenues could add fiscal capacity in the range of 0.1-2.4 per cent of the current government budget, implying a permanent increase in annual government spending (or tax relief) of 24-220 USD per capita. Corresponding implications for other resource-rich countries in the Arctic depend on their resource potential and the relative role of oil and gas in their economy. publishedVersion |
format |
Article in Journal/Newspaper |
author |
Mohn, Klaus |
author_facet |
Mohn, Klaus |
author_sort |
Mohn, Klaus |
title |
Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond |
title_short |
Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond |
title_full |
Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond |
title_fullStr |
Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond |
title_full_unstemmed |
Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond |
title_sort |
arctic oil and public finance: norway’s lofoten region and beyond |
publisher |
IAEE |
publishDate |
2019 |
url |
https://hdl.handle.net/11250/3046301 https://doi.org/10.5547/01956574.40.3.kmoh |
geographic |
Arctic Lofoten |
geographic_facet |
Arctic Lofoten |
genre |
Arctic Arctic Lofoten |
genre_facet |
Arctic Arctic Lofoten |
op_source |
199-226 40 Energy Journal 3 |
op_relation |
Mohn, K. (2019). Arctic Oil and Public Finance: Norway’s Lofoten Region and Beyond. The Energy Journal, 40(3), 199-226. urn:issn:0195-6574 https://hdl.handle.net/11250/3046301 https://doi.org/10.5547/01956574.40.3.kmoh cristin:1721324 |
op_rights |
Navngivelse 4.0 Internasjonal http://creativecommons.org/licenses/by/4.0/deed.no The author |
op_doi |
https://doi.org/10.5547/01956574.40.3.kmoh |
container_title |
The Energy Journal |
container_volume |
40 |
container_issue |
3 |
_version_ |
1768380704346865664 |