A Study of the relationship between mineral rights allocation and oil extraction rates

Abstract

This thesis examines the relationship between a country?s allocation of mineral rights and the rate of extraction of that country?s oil. Empirical analysis shows that countries with privatized oil industries extract oil more quickly than countries with nationalized industries. However, much of the relationship between mineral rights and extraction rates appears to stem from membership in OPEC. Thus, it is unclear whether mineral rights allocation has a direct effect on oil extraction rates.