Why don’t we use open source software development techniques in the energy industry? There’s an easy answer to that, of course. The current structure of competition is so heavily biased towards zero-sum game conceptions, between companies and between the corporate sector and host governments, that it would be hard to make happen. Ghana, or Yemen, more »
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We often hear, in general terms, about how the oil industry is driven by the risk-reward dynamic. It lies behind the vexed question of what is a fair government and oil company take: governments say oil companies are ripping them off because they make billions on big fields, companies reply that they need those margins for all the other times they drill dry wells or other stuff happens that prevents them bringing the black stuff to market. But reading through some modeling of petroleum contracts this week, I came across actual numbers.