The sharp increase in the oil price between 2003 and 2008 brought back a phenomenon commonly observed in the 1960s and 1970s. Countries are expropriating assets of independent oil companies – directly with large unexpected windfall taxes. Countries with recent expropriations include Bolivia, Ecuador, Algeria, Russia, China and Venezuela.
Oil price risk, expropriation and bilateral investment treaties
Johannes Stroebel, Arthur van Benthem, 21 October 2012
Topics: Energy, Politics and economics
Tags: bilateral investment treaties, expropriation, oil
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