Chapter 2: The Economic Effects of Giant Oil and Gas Discoveries

Cust, James; Rivera-Ballesteros, Alexis; Mihalyi, David

doi:10.1306/13742355mgf.2.3874

Cited by 3 publications

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“…Of course, oil and gas fields vary greatly in size: the region includes the largest two onshore oil fields in the world according to estimated ultimate recovery (EUR) of oil—the state‐owned Ghawar field in Saudi Arabia with 106,041 MMBOE (million barrels of oil equivalent) and the state‐owned Greater Burgan field in Kuwait with 67,729 MMBOE—and also the largest offshore oil field in the world, the state‐owned Safaniyah field in Saudi Arabia with an EUR of 56,285 MMBOE (Cust et al, 2021). However, the majority of operational (and other discovered) oil and gas fields across the seven petrostates have estimated EUR values below 5000 MMBOE (Cust et al, 2021). A comprehensive regional mapping of fossil fuel extraction could analyse EUR totals and shares by ownership entity to differentiate hydrocarbon assets between state and private enterprises (e.g., Heede & Oreskes, 2016).…”

Section: Climate Accountability In Rentier Petrostatesmentioning

confidence: 99%

Theorising the climate change accountability of Persian Gulf petrostates

Mason

2023

Env Pol Gov

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For states with political economies largely dependent on oil and natural gas rents, there seems to be little scope for accountability practices that answer for, and curb, fossil fuel production contributing to anthropogenic climate change. Critically engaging with rentier state theory, I examine the climate change accountability of Persian Gulf petrostates according to state responsibility norms under the United Nations Framework Convention on Climate Change (UNFCCC). For both domestic and international actions undertaken by these countries, there is no meaningful climate answerability for responsible actions—that they recognise and/or commit to the phasing down of their oil and natural gas production. There are differences in their emission reduction goals, under the Paris Agreement, that map onto variations in the stability and structure of their political economies, notably between the ‘super‐rentier’ states (UAE, Kuwait and Qatar) and their rentier neighbours (Saudi Arabia and Oman). However, all make ritualistic, long‐term commitments to ‘clean‐carbon’ (net zero‐emission) futures with no plans to reduce hydrocarbon exports. I argue that international climate change obligations should include a responsibility on states to reduce GHG emissions (at source) arising from their domestic‐ and foreign ownership of operational oil and gas fields. State energy companies in the Persian Gulf and elsewhere are key actors in fossil fuel extraction, yet remain insulated, through their corporate identities, from state responsibility norms. Treating state ownership of fossil fuels as a legitimate target of international climate regulation would broaden state accountability for climate change harm.

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Section: Climate Accountability In Rentier Petrostatesmentioning

confidence: 99%

Theorising the climate change accountability of Persian Gulf petrostates

Mason

2023

Env Pol Gov

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Can “Soft” Advice from International Organizations Catalyze Natural Resource Sector Reform?

Goes,

Chapman

2024

International Studies Quarterly

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Can international organizations improve natural resource governance? The International Monetary Fund (IMF) is most noted for its role in crisis lending, where it can wield the “teeth” of loan suspensions to push for reforms. But IMF officials also spend a large amount of time conducting routine surveillance through Article IV consultations, which assess a country’s economic developments and provide non-binding recommendations. Do governments follow this “toothless” advice? To answer this question, we examine the content of all Article IV staff appraisals published between 2004 and 2019. Using text analysis and a difference-in-differences estimator, we find that resource-rich developing countries are more likely to adopt legislation reforming the oil, gas, and mining sectors in the wake of an Article IV appraisal that extensively discusses the natural resource sector and recommends natural resource governance reforms. Our results suggest that technocratic advice—a tool often overlooked in international organization scholarship—can lead to the adoption of policies that help ameliorate the resource curse.

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Front Matter

2023

Africa's Resource Future: Harnessing Natural Resources for Economic Transformation During the Low-Carbon Transition

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Chapter 2: The Economic Effects of Giant Oil and Gas Discoveries

Cited by 3 publications

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Theorising the climate change accountability of Persian Gulf petrostates

Theorising the climate change accountability of Persian Gulf petrostates

Can “Soft” Advice from International Organizations Catalyze Natural Resource Sector Reform?

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