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Download Wildcat Drilling in Democratic Countries
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Wildcat Drilling in Stable Democracies Brief for the British Petroleum Board Members Caroline Zier BP Political Risk Consultant Team Bottom Line Up Front • Recommendation: Pursue wildcat drilling licenses with countries meeting two criteria: – Currently a democracy – Per capita income greater than $10,500 USD Wildcat Drilling • Explorations to find oil without knowing beforehand that an oil field exists in the area • High risk, potential for high reward Mitigate risks and protect public image by partnering with democracies with high per capita income Methodology • Survival of democracy is strongly correlated with the level of per capita income (Przeworski et al.) – Freedom House list of Free countries in 2008 • For our purposes, we equate Free to Democracy – Cross-referenced list with per capita income in 2008 • GDP per capita (PPP) Top Recommendations • • • • • • • • • • Liechtenstein Luxembourg Norway United States Andorra Ireland Iceland Switzerland The Netherlands Austria • • • • • • • • • • Australia Canada Sweden Belgium Denmark Finland United Kingdom Germany Spain Japan Questions?
