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Intergenerational Equity, the Public Trust Doctrine, Norway and North Sea Oil

Rahul Basu

MPRA Paper from University Library of Munich, Germany

Abstract: Norway’s management of its North Sea oil endowment, especially its future generations Oil Fund, is considered the global best practice. Some practice aspects such as no flaring of gas or a moderate pace of extraction go against standard economic theory. The public trust doctrine in law provides a useful lens to understand Norway’s model, and provides lessons for mineral owners world-wide.

Keywords: Intergenerational Equity; Public Trust Doctrine (search for similar items in EconPapers)
JEL-codes: K0 L72 N5 O1 P2 P48 Q3 (search for similar items in EconPapers)
Date: 2020-09-11
New Economics Papers: this item is included in nep-ene and nep-law
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