The Impact of the Individual-Social Motivation of the Private Property System On the Development of US Oil Fields

Document Type : ISI

Authors

1 Associate Professor of Oil & Gas Law, International Trade Law, University of Tehran

2 MA Oil and Gas Law, University of Tehran

Abstract

The private property regime is a field that reflects the developed approach of human thoughts. Private ownership of oil resources that has received less attention in other countries, is known as the head of other property regimes in the United States. This relatively comprehensive domination has had effects. The focus of this paper is to examine the relationship between the acceptance of private property and the development of the U.S. oil industry with a structural vision. Understanding this relationship has a significant role in knowing the nature and value of the system. After describing the notion of private property in this paper, we shall discuss the factors influencing the development of US oil fields or elements that are hidden under private ownership notion. Finally, we analyze the effects of this regime on oil fields that originate the other effects. In this study, we have seen the relationship between private property and the development of US oil fields from the perspective of the legal system as a sub-system and we found that contribution of private ownership to the development of US oil fields, it was nothing but the spirit of the private property regime, which is indeed the freedom of thought and action.

Keywords

References

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Journal Of Researches Energy Law Studies
Volume 3, Issue 2
Autumn & Winter
October 2017
Pages 255-283

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