ABSTRACTS
 2nd International Workshop on Oil Depletion
Paris, France, May 26-27 2003
Organised by the Association for the Study of Peak Oil and Gas
The workshop was held at the  Institut Francais du Pétrole , Rueil Malmaison, Paris.

  Proceedings of the 2nd International Workshop on Oil Depletion, Paris, France, May 26-27 2003,
Edited by K. Aleklett, C. Campbell and J. Meyer, www.peakoil.net/iwood2003 .

Property Rights for the Global Commons - Feudal or Democratic? Dr Paul E. Metz In Sustainable Development policies our governments try to compensate for the well-known - and little understood - deficiencies in economic science called "externalities", of both economic, social and environmental natures.  Many governments are experimenting and the OECD annually reports on the results of these trials, mainly the success stories.   Little attention is given to the role property rights could play, despite some established practices, which are considered successful.  And despite the dominant place of property rights in mainstream economics itself.  Most fossil fuel reserves are under control of states, but for the management and sustainable exploitation of things that cannot easily be captured or privatised, like the atmosphere, the oceans, the electromagnetic spectrum and biodiversity, lessons can be learned from the Alaska Permanent Fund.   Putting the Alaska model of 'fossil equity' into global practice for the Global Commons can solve many of the fairness and financing problems in international policies for Sustainable Development and Globalisation, including the range of transitions currently considered.  An Earth Dividend model will be presented, which ends "environmental colonialism", stops further growth of the "ecological debt" of the North to the South and generates purchasing power in a 'bottom up' way which is beneficial for clean, local businesses worldwide. Back to Proceedings