Aberdeen, United Kingdom

Law and Economics of Oil and Gas

Master's
Language: EnglishStudies in English
Subject area: law
Qualification: MSc
Kind of studies: full-time studies
Master of Science (MSc)
University website: www.abdn.ac.uk
Economics
Economics () is the social science that studies the production, distribution, and consumption of goods and services.
Gas
Gas is one of the four fundamental states of matter (the others being solid, liquid, and plasma). A pure gas may be made up of individual atoms (e.g. a noble gas like neon), elemental molecules made from one type of atom (e.g. oxygen), or compound molecules made from a variety of atoms (e.g. carbon dioxide). A gas mixture would contain a variety of pure gases much like the air. What distinguishes a gas from liquids and solids is the vast separation of the individual gas particles. This separation usually makes a colorless gas invisible to the human observer. The interaction of gas particles in the presence of electric and gravitational fields are considered negligible as indicated by the constant velocity vectors in the image.
Law
Law is a system of rules that are created and enforced through social or governmental institutions to regulate behavior. Law is a system that regulates and ensures that individuals or a community adhere to the will of the state. State-enforced laws can be made by a collective legislature or by a single legislator, resulting in statutes, by the executive through decrees and regulations, or established by judges through precedent, normally in common law jurisdictions. Private individuals can create legally binding contracts, including arbitration agreements that may elect to accept alternative arbitration to the normal court process. The formation of laws themselves may be influenced by a constitution, written or tacit, and the rights encoded therein. The law shapes politics, economics, history and society in various ways and serves as a mediator of relations between people.
Oil
An oil is any nonpolar chemical substance that is a viscous liquid at ambient temperatures and is both hydrophobic (immiscible with water, literally "water fearing") and lipophilic (miscible with other oils, literally "fat loving"). Oils have a high carbon and hydrogen content and are usually flammable and surface active.
Oil
I’ve said many times that there isn’t a country in the world that would find billions of barrels of oil and leave it in the ground while there is a market for it.
Justin Trudeau, speaking about the Trans Mountain Pipeline. As quoted by The Guardian, Canada approves controversial Kinder Morgan oil pipeline (30 November 2016).
Law
We must reject the idea that every time a law's broken, society is guilty rather than the lawbreaker. It is time to restore the American precept that each individual is accountable for his actions.
Ronald Reagan, Speech at the Republican National Convention, Platform Committee Meeting, Miami, Florida" (31 July 1968).
Oil
Sweet oil, the fragrance of the gods, mixed oil, pressed oil, aromatic oil, cedar oil for offerings are mine.
Lahar, in Debate between sheep and grain (mid to late 3rd millennium BCE) [1]
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