The petroleum fiscal system for a country is essentially the taxation structure, including royalty payments, that has been established by legislation. More broadly, the fiscal system includes all aspects of the contractual and taxation framework that governs the relationship between the host government and an international oil company. Worldwide, there are many different fiscal systems with different taxation and contractual terms. These vary from country to country and some countries use more than one system. Countries, for example, may offer concessionary system arrangements or service and production sharing agreements. Whichever system prevails, the issue for an oil company is how it can recover costs expended and how will the profit be divided. This depends upon tax regulations and the principles of the economics of the life of a field.The focus of this book is on the mechanics of the various kinds of fiscal systems and the factors that drive exploration and development economics. The emphasis is on practical aspects of petroleum taxation and industry/government relationships. There is also fertile ground for considering the philosophy of petroleum taxation which has changed the industry. Legal and operational aspects of contract/fiscal terms are also examined to provide a foundation in the dynamics of international negotiations.Both industry and government viewpoints are addressed in this book since a complete grasp of the subject requires an understanding of the aims and concerns of both sides. There are few things more discouraging for a government's national oil company than an unsuccessful licensing round. Yet prolonged, inconclusive negotiations can be equally frustrating for oil companies.This book has been written for those interested in petroleum taxation and international negotiations, and the way to carry out successful exploration and development projects. Much of the subject has evolved years ago whilst some aspects of taxation are timeless. Examples are included to give the reader a wide perspective about the implementation of fiscal systems.
The Greeks of North Rhine-Westphalia: Bailout Funds for Local Authorities in the German Lander. In response to budgetary problems of local government in Germany some federal states (Lander) established bailout funds for their highly indebted local authorities. These schemes commit local actors via individual contracts to strengthen their own consolidation efforts in return for fiscal aid. The ambitious aim is to reduce short-term lending considerably or to cut annual deficits completely. This article gives a comparative overview about the fiscal situation of local government in the different federal states and outlines the structure of the schemes in respect to the amounts and sources of funding as well as the conditions of participation and potential sanctions. Furthermore, this contribution explains the motives of the federal states and considers the problem-solving capacity of the schemes. Because the funds limit the political scope of local self-government the consequences for local democracy are also briefly analysed. Adapted from the source document.
"In Reaktion auf die kommunale Haushaltskrise haben mehrere deutsche Bundesländer so genannte Entschuldungsfonds oder Rettungsschirme für ihre Kommunen eingeführt. Ziel ist eine beträchtliche Reduzierung der Liquiditätsverschuldung und der Abbau jährlicher Defizite. Dazu verpflichten sich teilnehmende Kommunen per Vertrag zu verstärkten eigenen Konsolidierungsanstrengungen im Gegenzug für finanzielle Hilfen aus den Fonds. Dieser Beitrag beschreibt die Haushaltssituation der kommunalen Ebene im Bundesländervergleich und erörtert Ziele, Höhe und Finanzierungsquellen sowie Teilnahmebedingungen und Sanktionspotentiale der Rettungsschirme. Des Weiteren analysiert der Artikel die Ursachen für die Einführung der Fonds und erörtert ihre Problemlösungskapazität. Aufgrund der einhergehenden Eingriffe in die kommunale Selbstverwaltung wird darüber hinaus die Frage der demokratischen Legitimation der Rettungsschirme thematisiert." (Autorenreferat).;;;"In response to budgetary problems of local government in Germany some federal states (Länder) established bailout funds for their highly indebted local authorities. These schemes commit local actors via individual contracts to strengthen their own consolidation efforts in return for fiscal aid. The ambitious aim is to reduce short-term lending considerably or to cut annual deficits completely. This article gives a comparative overview about the fiscal situation of local government in the different federal states and outlines the structure of the schemes in respect to the amounts and sources of funding as well as the conditions of participation and potential sanctions. Furthermore, this contribution explains the motives of the federal states and considers the problem-solving capacity of the schemes. Because the funds limit the political scope of local selfgovernment the consequences for local democracy are also briefly analysed." (author's abstract).
Mit dem Thema der »Social Governance« durch Recht und dem Zusammenspiel von materiellrechtlichen Standards und deren prozessualer Durchsetzung griff das Symposium eine Frage von herausragender wissenschaftlicher und praktischer Bedeutung auf. Bei der Verfolgung bestimmter rechtlicher oder sozialer Ziele hat ein Rechtssystem grundsätzlich zwei Optionen: Die Ausübung von Einfluss auf das Verhalten der Bürger durch präventive oder reaktive Instrumente. Das Verhältnis von präventiven und reaktiven regulatorischen Instrumenten ist ein Schlüsselelement für die Analyse und das Verständnis eines Rechtssystems.InhaltsübersichtCivil Procedure and Civil Law Miyuki Watanabe: Dispute Resolution using Expert Knowledge in Japan – Alexander Bruns: Directors' and Officers' Liability and Insurance as Reactive Instruments of Social Governance? – Tomohiro Yoshimasa: The Reform of the Law on Remedies for Breach of Contract in Japan – Stefan Thönissen: Governing Markets through Insurance of Credit Risks? – Alisher Umirdinov: Abuse of Fiscal Power by Host States in Investment Arbitration Labour Law Sebastian Krebber: Characteristic Patterns of Labor and Employment Law's Reaction to Conflicts and Disputes between Employer and Employee – Hirotaka Hayatsu: Comparative Study on the Legal Remedies for Fixed-Term Employment Contracts in Japan and Germany Intellectual Property Law Masabumi Suzuki: The Role and Calculation of Damages for Patent Infringement – Maximilian Haedicke: Sanctions for non-compliance with the obligation to protect confidential information in patent infringement proceedings – The FRAND example Private International Law Jan von Hein: Overriding Mandatory Rules between European Conflict of Laws and Domestic Substantive Law – Dai Yokomizo: Public Policy (Ordre Public) in Japanese Conflict of Laws
"In einem Krankenversicherungssystem mit vorgegebenem Grundleistungspaket, Versicherungsobligatorium, Vorschrift zur Pro-Kopf-Einheitsprämie in jeder Versicherung und Wettbewerb zwischen den Versicherern ist die Etablierung eines Risikoausgleichs zwischen den Versicherern zwingend notwendig, damit der Wettbewerb funktionieren kann. Der Schweizerische Risikoausgleich mit den Faktoren Alter, Geschlecht und Region genügt dabei den Anforderungen an einen guten Risikoausgleich nicht. In der Folge konzentrieren sich die Versicherer auf die Selektion gesunder Versicherter statt auf das Management der Gesundheitskosten. Der Wettbewerb zwischen den Versicherern erfüllt die Erwartungen nicht. Eine Reform des Risikoausgleichs ist daher notwendig und kann aufgrund der vorhandenen Untersuchungen auch umgesetzt werden. Die geplante Aufhebung des Kontrahierungszwangs im ambulanten Bereich schafft für die Versicherer eine neue Möglichkeit der Risikoselektion, indem Ärztinnen und Ärzten mit kränkeren Patienten/-innen ein Vertragsabschluss verweigert werden kann. Der Kontrahierungszwang kann daher nur dann aufgehoben werden, wenn der Risikoausgleich stark verbessert wird." [Autorenreferat]
China befindet sich seit nunmehr über 20 Jahren auf dem gewaltigen Weg der Umgestaltung der Gesellschaft von einer sozialistischen Planwirtschaft in eine Marktwirtschaft sozialistischer Prägung. Das Rechtssystem ist in diesem Zeitraum völlig umstrukturiert worden. Westliche Modelle haben bei dieser Umgestaltung zum Teil als Vorbild gedient. Das chinesische Vertragsgesetz aus dem Jahr 1999 lässt beispielweise deutlich erkennen, dass die Verfasser sich stark mit dem BGB auseinander gesetzt haben. Zugleich werden jedoch auch völlig eigene Rechtsstrukturen geschaffen. Dies gilt etwa für die Gewinnung ausländischer Investitionen mittels "Foreign Investment Enterprises" oder die Behandlung von Staats- und Kollektiveigentum sowohl in der gegenwärtigen Rechtslage als auch in den Diskussionen um die Schaffung eines neuen Eigentumsrechts.
Eine höhere Lebenserwartung bei gleichzeitiger Überalterung der deutschen Gesellschaft sind maßgebliche Gründe eines heute bereits festzustellenden Defizits der gesetzlichen Rentenversicherung. Die jüngste Rentenreform mit dem Altersvermögens- und Alterseinkünftegesetz setzte deshalb maßgebliche Anreize, die Alterssicherung eigenverantwortlich um eine private, staatlich geförderte Vorsorge zu ergänzen. Jedoch mangelt es derzeit vorwiegend an einer fachkundigen Informations- und Beratungsleistung der Finanzdienstleister, weshalb die Bürger von diesem neuen Angebot nur zurückhaltend Gebrauch machen. Insbesondere die finanzwirtschaftliche Wirkungsweise, die Nachvollziehbarkeit und Vergleichbarkeit der geförderten Vorsorgeinstrumente stellen aufgrund der individuellen steuerlichen und sozialversicherungsrechtlichen Komplexität dabei eine wesentliche, noch offene Frage dar. Finanzdienstleister können aber genau an dieser Stelle profitieren, indem sie in diesem Wachstumsmarkt neue kundenzentrierte Beratungsansätze etablieren. Diese kennzeichnen sich durch eine individuelle aus Kundensicht vorteilhafte Lösungszusammenstellung. Die Anbieter profitieren hiermit sowohl durch die Möglichkeit, dem Kunden vorteilhafte Angebote generieren zu können, um somit neue Ertragspotenziale abzuschöpfen, als auch durch eine mögliche nachhaltige Differenzierung über einen hochwertigen Beratungsprozess mit einhergehender höherer Kundenbindung und -zufriedenheit. Herr Eberhardt beschäftigt sich deshalb in seiner Dissertationsschrift mit der Entwicklung von individualisierten Beratungsansätzen einer steueroptimierten Vorsorge. Die Arbeit greift damit eine aus Sicht von Politik, privaten Haushalten und (Finanz-)Unternehmen hochrelevante Fragestellung auf. Herr Eberhardt widmet sich folgenden zentralen Fragen, deren betriebswirtschaftlich fundierte Beantwortung für die Etablierung einer kundenzentrierten Beratungs- und Vertriebsstrategie erforderlich ist: • Wie lassen sich die verschiedenen Altersvorsorgeinstrumente aus Kundensicht vergleichen? Wie kann der Prozess einer individualisierten Altersvorsorgeberatung mit Hilfe einer geeigneten Systemunterstützung abgebildet werden? • Welchen Einfluss auf die finanzwirtschaftliche Vorteilhaftigkeit hat die langfristige Zinsbindung und erwartete Zinsentwicklung beim Abschluss von Förderprodukten? • Von welchen Faktoren hängt die Wirkung der neuen Förderprodukte ab? Lassen sich für die neuen Förderprodukte Pauschalempfehlungen generieren, um auch Kundensegmente zu bedienen, bei welchen sich eine IT-gestützte individualisierte Beratung aus Kosten-/ Nutzenaspekten nicht rentiert? Welche Rolle spielt die optimierte Vertragsgestaltung bei Förderprodukten für die finanzwirtschaftliche Vorteilhaftigkeit? • Wie stellt sich ergänzend zur Altersvorsorge das Problem einer Risikovorsorge am Beispiel der Berufsunfähigkeitsversicherung aus Liquiditätssicht nach Steuern dar? Welche möglichen Vorteile bringt eine steueroptimierte Berufsunfähigkeitsvorsorge? Der Schwerpunkt der Arbeit liegt dabei in der (privaten) Finanzplanung sowie im Financial Engineering unter Berücksichtigung von kundenindividuellen Steuerwirkungen. Darüber hinaus wird auch auf Wirtschaftsinformatikaspekte im Rahmen einer Individualisierung von Beratungssystemen fokussiert. Bemerkenswerterweise konnten bereits einzelne Aspekte der erzielten wissenschaftlichen Ergebnisse in mehreren Praxisprojekten umgesetzt werden. ; The dissertation of Mr. Eberhardt in German language is dedicated to the following core questions in the field of tax optimised Retirement and Precaution Solutions in Germany: The dissertation outlines, how financial service providers can generate competitive advantages through innovative IT-support for their financial advisory processes. Therefore a generic concept for individualised financial advisory processes is enhanced by the consideration of tax and social contribution effects. This concept is operationalised for the important field of private retirement planning. Thus IT-support for the process of individualised advice is essential because of its high complexity and enables an individualised optimisation of customers' portfolios. In cooperation with a German financial service provider this concept is already successfully implemented in a first release and will be extended and improved in the future. As a result of the latest reform of the German pension system, subsidized contracts for private investments in bond pension funds are advantageous compared to normal bonds being identical in risk and maturity. Regarding the actual interest rate level it may be better to invest temporarily in short term bonds if rising interest rates for the long term subsidized contracts are expected. The dissertation shows, under which conditions a so called mixed strategy is advantageous compared to the direct investment in a subsidized long term contract. Apparently, in the present situation (summer 2006) mixed strategies can be advantageous to the direct investment in a subsidized long term contract. Because of the risks associated with them, those can not be dominant. In 2005 the renewed German pension law ("Alterseinkünftegesetz") became effective, establishing private retirement arrangements based on the funding principle. Thereby it supplements the state-run retirement insurance which is based on apportionment. Financial service providers, especially banks and insurance companies, are offering a wide range of the so called "Basis-Pension", promising the customer advantages due to governmental aid up to "gifts from the government". The dissertation shows that the effect of the governmental aid depends on the saver's personal circumstances e. g. year of birth and desired date of retirement payments. The combination with an alternative investment as well as splitting the investment sum on several "Basis-Pension" contracts increases saver's net present value. Since social security benefits were – besides government pensions also stripped down in 2001, the German market for private occupational disablement insurances is still growing. Simultaneously, especially risk groups cannot afford insurance contributions to appropriately satisfy their needs. So far, private supplementary occupational disablement insurances ("riders") were mostly combined with life and annuity insurances, whereas contributions were not tax-deductible. With the amendments in the German pension law ("Alterseinkünftegesetz") in 2005, financial service providers have now the opportunity to bundle this coverage with the government-supported so-called "Basis-Pension". Due to the fact that contributions as well as pensions in the case of occupational disablement are taxed equally to the master cover, interesting potentials for offer configuration are realisable. Based on a fiscal model, the dissertation elucidates that favorable pricing is feasible, if the new product combination is included in the portfolio. Furthermore, the analysis shows how differentiated consideration after tax looks like and that flat recommendations are not adequate in this context. Realising and establishing the presented concepts, financial service providers can excel in the long run due to premium, individualised consulting processes and thereby offer advantageous solutions to the customer.
In seiner Dissertation untersucht Herr Mederer zentrale Fragestellungen bei Anlage- und Finanzierungsentscheidungen in der Privaten Finanzplanung im Rahmen einer einheitlichen Nachsteuer-Betrachtung. Dies ist insofern von Bedeutung, da - wie einleitend aufzeigt wird - einerseits kundenseitig eine große Notwendigkeit für die Private Finanzplanung über alle Bevölkerungs- und Einkommensschichten hinweg existiert, nicht zuletzt aufgrund der immer komplexer werdenden steuerlichen Regelungen. Andererseits könnte sich dieser Markt anbieterseitig mit solchen fundierten, qualitativ hochwertigen Konzepten und einer geeigneten Vertriebsstrategie erschließen lassen. Insbesondere vor dem Hintergrund des Altersvermögens- und Alterseinkünftegesetzes - mit welchen eine Trendwende in der Sozialpolitik weg von einer staatlichen Absicherung hin zu einer eigenverantwortlichen Vorsorge im Alter als auch z.B. bei Berufsunfähigkeit stattfand - und der Komplexität des Problemfelds sind die Konzepte ebenso von wissenschaftlichem Interesse wie auch von sehr hoher praktischer Relevanz. Herr Mederer widmet sich in seiner Dissertationsschrift auf Basis der steuerlichen und sozialversicherungsrechtlichen Rahmenbedingungen den nachfolgenden Fragestellungen über alle Schichten des Alterseinkünftegesetzes hinweg: • Welche Implikationen hat die aktuelle Zinssituation und Zinserwartung für die Entscheidung, wann in geförderte langfristige Altersvorsorgeprodukte zu investieren ist und wie lange in ungeförderte "Überbrückungsanlagen"? • Durch welche Vorsorgestrategien kann eine bestehende bzw. über das Rentenziel vorgegebene Versorgungslücke durch eine Basisrente in Schicht 1 mit minimaler Sparleistung nach Steuern geschlossen werden? • Unter welchen Voraussetzungen sollte eine wie optimierte betriebliche Altersvorsorge in Schicht 2 und speziell das Lebensarbeitszeitkonto als Form der Entgeltumwandlung Teil des Altersvorsorgeportfolios sein? • Wie sollte in Schicht 1 und in Schicht 3 in einer Betrachtung nach Steuern das Berufsunfähigkeitsrisiko unter Berücksichtigung der Wechselwirkungen zur Altersvorsorge abgesichert werden? • Welche Auswirkungen hat die zum 1.1.2009 in Kraft tretende Abgeltungssteuer auf die Entscheidung, bei ungeförderten Vorsorgestrategien in Schicht 3 in Kapitalanlagen wie Renten oder fremdvermietete Immobilien zu investieren? Die Beantwortung der Fragestellungen erfolgt mittels quantitativer finanzwirtschaftlicher Modelle auf Basis einer einheitlichen Nachsteuer-Betrachtung. Um trotz der (steuerlichen) Komplexität fundierte, optimale Vorsorge- und Anlagestrategien nach Steuern und ggf. nach Sozialabgaben generieren zu können, bedient sich die Arbeit der Methodik des Financial Engineering. Die Problemstellungen werden sowohl aus der Sicht des individuellen Privatkunden als auch im Hinblick auf die Marktchancen von Finanzdienstleistern untersucht. Es zeigt sich, dass die Betrachtung kundenindividueller Eigenschaften in der Privaten Finanzplanung einen entscheidenden Einfluss auf die Vorteilhaftigkeit der generierten Beratungsempfehlungen hat. Daher ist hier insbesondere die Wirtschaftsinformatik gefordert, detaillierte Fachkonzepte für automatisierte Selbstberatungs- und Beratungsunterstützungssysteme zu entwickeln, um konsistent vorteilhafte Beratungsergebnisse bei Finanzdienstleistern sicherstellen zu können. Bemerkenswerterweise konnten bereits einzelne Aspekte der erzielten wissenschaftlichen Ergebnisse in mehreren Praxisprojekten umgesetzt werden. ; In his dissertation Mr. Mederer examines key issues regarding investment and financing decisions in personal financial planning in the context of a consistent after-tax consideration. This is important, because - as shown in the introduction - on the one hand side customers have a great need for personal financial planning across all demographic and income strata, not least because of the increasingly complex taxation. On the other hand side financial service providers could open and further develop this market with such scientifically substantiated high-quality concepts and an appropriate sales strategy. Therefore Mr. Mederer elucidates the following topics on the basis of tax and social security law: • As a result of the latest reform of the German pension system in 2005 ('Alterseinkünftegesetz'), subsidized contracts for private investments in bond pension funds are advantageous compared to normal bonds being identical in risk and maturity. Regarding the actual interest rate level it may be better to invest temporarily in short term bonds if rising interest rates for the long term subsidized contracts are expected. The dissertation shows, under which conditions a so called mixed strategy is advantageous compared to the direct investment in a subsidized long term contract. The optimal strategy is derived analytically and applied to the actual interest rate level. Apparently, in the present situation (2007) mixed strategies can be advantageous to the direct investment in a subsidized long term contract. Because of the risks associated with them, those can not be dominant. • The 'Alterseinkünftegesetz' established private retirement arrangements based on the funding principle. Thereby it supplements the state-run retirement insurance which is based on apportionment. Financial service providers, especially banks and insurance companies, are offering a wide range of the so called 'Basis-Pension', promising the customer advantages due to governmental aid up to 'gifts from the government'. The dissertation shows that the effect of the governmental aid depends on the saver's personal circumstances e. g. year of birth and desired date of retirement payments. The combination with an alternative investment as well as splitting the investment sum on several 'Basis-Pension' contracts increases saver's net present value. • The German 'Lebensarbeitszeitkonto' (LAZ) is a construct for the transition to flexible working hours. The dissertation deals with the LAZ investigating its advantageous application for employers as well as for their employees. Starting with an one-time rededication of income in the LAZ, its benefiting appliance in consideration of the utility for the employer and the employee is analyzed. Therefore the optimal individual payment ratio into the LAZ is determined of both parties' point of view. Thereby it is shown that by optimizing the payment ratio, the employer and the employee gain an advantage compared to a completely redemption, because of the resulting social insurance savings. Beyond it is shown that another increase of utility for the coalition (employer and employee) can be achieved, if the employer additionally pays in a part of his social insurance savings as a bonus payment in the LAZ. Furthermore both parties can realize their utility maximum by optimizing the payment ratio for the coalition. Finally it can be deduced, that the LAZ is usable as an innovative instrument in salary negotiations in order to reduce the ancillary wage costs on the one hand and to provide a flexible opportunity for employee's annuity insurance on the other hand. • Since social security benefits were stripped down in 2001, the German market for private occupational disablement insurances is still growing. Simultaneously, especially risk groups cannot afford insurance contributions to appropriately satisfy their needs. So far, private supplementary occupational disablement insurances ('riders') were mostly combined with life and annuity insurances, whereas contributions were not tax-deductible. With the amendments in the German pension law in 2005, financial service providers have now the opportunity to bundle this coverage with the government-supported 'Basis-Pension'. Due to the fact that contributions as well as pensions in the case of occupational disablement are taxed equally to the master cover, interesting potentials for offer configuration are realisable. Based on a fiscal model, the dissertation elucidates that favorable pricing is feasible, if the new product combination is included in the portfolio. Furthermore, the analysis shows how differentiated consideration after tax looks like and that flat recommendations are not adequate in this context. • As from 1.1.2009 income from investment of capital will be proportionally taxed with a constant separately raised tax rate, which is final. This does not apply to other types of income (which will further on be taxed with the progressive income tax rate), so that there is a different tax treatment of investment in the forms of 'income from rental and leasing' and 'income from investment of capital'. The dissertation analyzes therefore in a financial after-tax consideration the implications that result for private individuals for the investment alternatives 'not owner-occupied real estate' and 'capital asset'. First, the after-tax profit of a self-financed, not owner-occupied real estate investment is compared to a pre-tax cash flow equivalent capital assets investment. Following this, an analysis is made how to design the optimal financing of a not owner-occupied real estate. It becomes clear that lump statements in both cases are inappropriate and the individual income tax situation has a significant influence on the result. Realizing and establishing the presented concepts, financial service providers can excel in the long run due to premium, individualized consulting processes and thereby offer advantageous solutions to the customer.
Studie über Organisationsrecht in der VR China. Das Organisationsrecht gehört zu den Bereichen, in denen gesellschaftlich akzeptierte Regelungen am meisten formal-rechtlichen Gesetzescharakter besitzen. Erst die Kulturrevolution hatte die gesetzliche Absicherung staatlicher Organisationen erschüttern können. Ab Mitte 1979 wurden wieder gesetzliche Organisationsregelungen erlassen, die auf den ursprünglichen Gesetzen der 50er Jahre fundierten. Im einzelnen: Organisationsrecht und bürokratische Praktiken im Widerspruch; Staat und Partei; Staatsaufbau; Staatsorgane im einzelnen; die "fünfte Modernisierung". (DÜI-Rmb)
Inhaltsangabe: Introduction: This book covers policy proposals and interim contracts, assesses the positions of various Iraqi political actors and examines the potential significance for international foreign policy goals in Iraq. Despite a lack of progress in reaching agreements on the hydro-carbon sector and revenue sharing legislation to set new conditions for the management of the country's significant oil and gas resources, development in Iraq's oil and gas sector is moving forward. The passage of the oil and gas sector framework and revenue sharing legislation will be seen as significant milestones by International governments and International Oil Companies (IOC´s). This would provide evidence of the Iraqi government's dedication to promoting political reconciliation and providing a solid foundation for long term economic development in Iraq. Interim revenue sharing mechanisms have been introduced due to the lack of new legislation. Additionally, both the Federal Government (the Federal Oil Ministry-MoO) and the Kurdistan Regional Government (KRG) (the Regional Ministry of Natural Resources and Energy) have made oil and gas development deals with foreign firms. The MoO is working with existing regulation from the previous political and administrational regime, while the Regional Ministry of Resource and Energy Kurdistan-Iraq has designed its own laws and regulations, which the Federal Government has not yet recognized. There is wide recognition among Iraqis of the importance of oil and gas revenue for the Iraqi economy. Most groups see the need for new legal and policy guidelines for the development of the country's oil and natural gas resources. However, Iraq's Council of Rrepresentatives (parliament) has not yet considered the proposed legislation due to ongoing political discord and general political instability. There are strong differences on key issues between Iraqi critics and supporters of various proposed solutions. These include the appropriate role and powers of federal and regional authorities in regulating oil and gas development; the conditions and degree of potential foreign participation in the oil and gas sectors; and proposed formulas and mechanisms for equitably sharing oil and gas revenue. Simultaneously, there are strong disagreements on related discussions about the administrative status of the city of Kirkuk and proposed amendments to articles of Iraq's constitution that outline federal and regional oil and gas rights. The U.S. and UK military strategy in Iraq seeks to lay the ground work for an environment in which Iraqis can resolve core political differences in order to ensure national stability and security. However, it is not yet certain whether the proposed oil and gas legislation and ongoing interim efforts to develop Iraq's energy resources will support harmony or create deeper political tension. The United States and its allies face difficult decisions regarding how to work with Iraqis on assorted policy proposals, related constitutional reforms and oil and gas development contracts, and at the same time encouraging their Iraqi counterparts to ensure that the content of proposed laws, amendments and contracts reflect acceptable political compromises. In the 1920s a wide-ranging concession was granted to a consortium of oil companies known as the Turkish Petroleum company and later as the Iraq Petroleum Company. This was the beginning of oil exploration in Iraq. The nationalization of Iraq's oil resources and production was finished by 1975. From 1975 to 2003, oil production and export operations were entirely state operated. However, from the early 1980s until the toppling of Saddam Hussein's government in 2003, the negative effects of war, international sanctions, a shortage of investments and technology and, in many cases, mismanagement caused difficulties for Iraq's hydrocarbon infrastructure. According to the Oil Ministry, Iraq has the third largest proven oil reserves in the world (115 billion barrels). Other estimates of Iraq's potential oil reserves vary. The U.S. Department of Energy's Energy Information Administration notes that current estimates "have not been revised since 2001 and are largely based on 2-D seismic data from nearly three decades ago." In April 2007, oil industry consultants IHS assessed that Iraq's proven and probable reserves tally 116 billion barrels, with a potential additional 100 billion barrels in largely unexplored western areas. The U.S. Geological Survey's median estimate for additional oil reserves in Iraq is around 45 billion barrels. In 2004, Iraq's then Oil Ministry claimed that Iraq had "unconfirmed or potential reserves" of 214 billion barrels. My Reservoir Engineering Estimation is that Iraq's reserves can reach more than 320 bn bbl oil. Approximately 65 percent of Iraq's current proven reserves are located in southern Iraq, with a concentration in the southern most province of Al Basrah. Large proven oil resources have also been found in the northern province of Al Ta´mim near the disputed city of Kirkuk At present, crude oil provides over 90% of Iraq's domestic energy consumption and oil exports produce over 98% of Iraq's government revenue. Due to decreases in global oil prices from their 2008 high and lower oil production, Iraqi leaders revised their 2009 revenue and budget assumptions from a projected surplus to a projected $15.9 billion deficit. According to official U.S. assessments continued fluctuations in oil prices and production could put at risk Iraq's fiscal stability and the sustainability of its reconstruction and development plans. The expansion of oil production to the level of four million barrels per day (m/d) by 2013 and then upward to six m/d by 2017 is called for by current Iraqi plans. Iraqi officials have begun an international bid process for service contracts and renegotiated a series of Saddam era oil production agreements in order to support these goals. These include the transformation of a production sharing agreement into a service contract for Ahdab oil field with China National Petroleum Corporation (CNPC).Inhaltsverzeichnis:Table of contents: 1.Introduction1 2.Iraqi Constitution7 3.Contract Conditions15 4.State-owned Oil Companies27 5.Restructuring of the Iraqi Oil Institutions33 6.Revenue-Sharing and Equalization36 7.Potential Geography50 8.Present Organization and Development56 9.Hydrocarbon Legislation Draft and Contracts59 10.Revenue Sharing65 11.Crisis Management of the Oil Industry in Iraq88 12.U.S. Policy and Issues for Congress99 13.China Investment in the Energy Sector112 14.Conclusion119 15.References127 16.Attachments129Textprobe:Textsample: Revenues and Arrangements: Under current arrangements, the responsibility for the sale and export of Iraq's crude oil is appointed to Iraq's State Oil Marketing Organization (SOMO). The United Nations Security Council resolution (UNSCR) 1483 (and updated under subsequent Security Council resolutions) stipulates that revenue from Iraq's oil exports is to be deposited into an Iraq-controlled account held at the Federal Reserve Bank of New York (FRBNY). Five percent of the funds are put aside for a United Nations Compensation Fund for reparations to the victims of the 1990 Iraqi invasion and occupation of Kuwait. The remaining 95% are deposited into a Development Fund for Iraq (DFI) account at the FRBNY and then transferred to an Iraqi Ministry of Finance account at the Central Bank of Iraq for further distribution to Iraqi government ministries. The terms of UNSCR1546 and subsequent resolutions mandate that the DFI be monitored by an International Advisory and Monitoring Board (IAMB), which provides periodic reports on Iraq's oil export revenue, Iraq's use of its oil revenues, and its oil production practices. According to the IAMB, as of December 31, 2007, $23.43 billion had been disbursed from the United Nations Compensation Fund and Iraq owed $28.95 billion to the Fund. Iraq deposited another $3 billion. According to IAMB estimates in mid 2008 "at the present rate of Iraqi oil sales, it would take approximately 17 years for the compensation award to be fully paid."38 It is likely that this estimate is no longer current due to significant declines in the price of oil in the meantime. The IAMB has not yet announced a corrected date. Under U.N. Security Council Resolution 1859 (December 22, 2008) the IAMB authority ends on December 31, 2009. This refers to a 2009 "transition to successor arrangement" from the DFI and the IAMD to Iraqi-led auditing processes. In October 2006, the Committee of Financial Experts (COFE) was approved by the Iraqi cabinet. Its task is to oversee oil revenue collection and administration. The president of the COFE authorized its activities in April 2007, and it currently is working with the IAMB on audit procedures. The establishment of an audit oversight committee for the DFI and oil export revenues is a structural benchmark under Iraq's Stand-by Arrangement (SBA) with the International Monetary Fund currently satisfied by the extension of the IAMB arrangement and the creation of the COFE. Agreements with members of the Paris club made the approval of the SBA into a necessity.39 The IAMB said in 2009 that Iraq's Committee of Financial Experts "is ready and capable to succeed the IAMB and conduct competent and independent oversight of the DFI." Immunity provisions included in standing UN Security Council resolutions protect Iraqi funds in the DFI from property attachment motions instead of legal judgments rendered against the former Iraqi regime. President Bush extended the U.S. legal protections for the DFI and other Iraqi assets under Executive Order 13303 through May 20, 2009. President Obama prolonged the protections until May 2010.40 Iraq will receive continued support from the United States in its attempts to convince the UN to extend related protections for energy proceeds and the DFI under Article 26 of the U.S.-Iraq security agreement. Oversight of Oil Production and Revenue Management Between its creation in May 2003 until December 31, 2007, the DFI received over $121.7 billion in oil proceeds and other deposits. According to audit estimates, an additional $58.8 billion in net export proceeds were deposited in 2008. Intermittent audits done in conjunction with the IAMB have routinely found serious discrepancies in oil production and export figures and DFI account receipt and distribution amounts. The absence of reliable output measurements for oil has been a critical and ongoing problem. During the Coalition Provisional Authority (CPA) period, there was no metering equipment available for oil production and exports. According to a May 2007 GAO report, there have been no improvements in reliable metering in Iraq's oil fields. This has contributed to the shortage of reliable data on Iraq's oil production and related revenue.42. In January 2008, an IAMB report claimed that Iraq's Ministry of Oil "does not have in place a full operational loading and metering system at production and loading points in order to determine produced and loaded quantities [of oil] accurately." An IAMB report in June 2008 established that "some metering has been installed at oil terminals, but there continues to be no metering in the oil fields." In April 2009, the IAMB stated that "much remains to be done before a fully operational control and measurement system over the oil production, distribution and export sales, can be comprehensively implemented," and added that, "Indications from the Ministry of Oil point to implementation by 2011 at the earliest." Financial audits completed by December 2005 established that "no comprehensive financial and internal controls policies and procedures manuals" existed in the Iraqi ministries that were spending oil export proceeds delivered through the DFI system. On June 12, 2007, the IAMB commented on its 2006 findings, noting that the audits proved "the overall financial system of controls is deficient." The audits showed there was "no overall comprehensive system of controls over oil revenues," and that "basic administrative procedures" were "outdated and ineffective." These conditions may have contributed to widespread corruption. Several Iraqi ministries spending distributed oil export revenue have been accused of corruption which is often associated with weak contracting and cash management policies. The Iraqi government's attempts to respond to IAMB recommendations were noticed by the IAMB's preliminary findings for 2007, but also noted that "the overall financial system of controls in place in the spending ministries, the U.S. agencies in respect of outstanding commitments using DFI resources, and the Iraqi administration of DFI resources remain deficient." The 2008 preliminary assessment, released in April 2009, concluded that "much remains to be done before a sound financial management system is operating effectively in Iraq".
Kurzzusammenfassung In den letzten Jahren hat die Thematik der langfristigen Altersvorsorge insbesondere aufgrund des rückläufigen gesetzlichchen Rentenniveaus sowie der immer noch anhaltenden Niedrigzinsphase in der öffentlichen Debatte zunehmend an Bedeutung gewonnen. Allerdings kommen weder von politischer noch von wissenschaftlicher Seite klare Empfehlungen, wie die hiervon am stärksten betroffene Bevölkerungsgruppe der Jüngeren auf diese nachhaltig negativen Entwicklungen bezüglich der späteren Versorgung reagieren sollte. Daher widmet sich diese Arbeit zum einen der quantitativ ausgerichteten Fragestellung, welcher einkommensabhängige Vorsorgeumfang sich für heutige Berufsanfänger ("Millenials") einer speziellen Profession (Zeitoffiziere) aus ganzheitlicher Betrachtungsweise als nutzenmaximierend erweist, zum anderen wird auf verhaltensökonomisch-qualitativer Ebene untersucht, mit welchen Mitteln die jungen Erwachsenen im Entscheidungsfindungsprozess sinnvoll unterstützt, d.h. in ihrem eigenen Interesse "gelenkt", werden können ohne dabei restriktive oder gar manipulative Methoden einzusetzen. In diesem Kontext spielen die einzigartigen Charakteristika der Untersuchungsgruppe (u.a. das hohe verfügbare Einkommen bei Berufseinstieg, die zeitvertragliche Sonderstellung, die fehlende betriebliche Vorsorgemöglichkeit, die berufsbedingten Grundrechtsbeschneidungen, die ausgeprägte Homogenität hinsichtlich wichtiger sozioökonomischer/-demografischer Merkmale etc.) eine zentrale Rolle, welche die spezielle Situation dieses "institutionalisierten Bevölkerungsteil" sowohl aus wissenschaftlicher als auch aus paternalistischer Perspektive untersuchenswert machen. Um belastbare Ergebnisse erzielen und daraus Handlungsempfehlungen ableiten zu können, erfolgt zunächst eine vielschichtige und tiefgründige Analyse sämtlicher vorsorgerelevanter Aspekte (u.a. rechtliche sowie steuerliche Regelungen, Marktgegebenheiten, makroökonomische Entwicklungen) sowie die Untersuchung der zentralen und parallel ablaufenden Lebensstränge (Familie, Beruf, Gesundheit, Konsumfreiheit etc.). Der diesem Vorgehen geschuldetete enorme Datenbedarf speißt sich einerseits aus sekundärempirischen Studien und aktueller wissenschaftlicher Literatur und andererseits aus umfangreichen Primärdatenerhebungen unter aktiven sowie ehemaligen Offizieren. Aufbauend auf diesem Datenfundus wurde ein Lebenszyklusmodell entwickelt, welches mit Hilfe von Monte-Carlo-Simulationen den gesamten Lebenspfad für verschiedene nach Präferenzen und Erwartungshaltung geclusterte Berufsanfängergruppen beliebig oft durchspielen kann. Auf diese Weise kann das langfristige Vorsorgeverhalten für verschiedene Zielgrößen wie etwa den Konsumnutzen, das Altersarmutsrisiko oder eine Mindest- bzw. Wunschrente optimiert werden. Gleichzeitig kann die Verbreitung dieses auf Standardsoftware basierenden Tools dazu beitragen, junge Bevölkerungsteile "spielerisch" an die abstrakte Thematik der eigenen Altersvorsorge heranzuführen. Hierdurch wird nicht nur das Bewusstsein für deren Notwendigkeit geschärft, sondern die Nutzer werden auch in die Lage versetzt, ihre eigenen – regelmäßig latenten – Präferenzen und Wünsche für das Alter zu erkunden bzw. deren Realitätsnähe zu überprüfen und verhaltensökonomische Fehler zu vermeiden. Abstract In recent years, old age provision has become a prominent topic in the public debate. There are two main reasons for this: The substantial cuts in the statuory pension insurance scheme and the long period of low interest rates. Under these circumstances, financial planning for the retirement age has become a serious problem, and there are still no reliable recommendations on how people should adopt their old age provisions to these circumstances. This thesis approaches the topic by examining the situation of a distinct professional group: the current generation of military officers with a limited active-duty service commitment ("Zeitoffiziere"). Retirement planning for this professional group is characterised by a number of peculiar financial conditions: a high amount of discrationary income in early years, a long-term commitment governed by a temporary contract and the exclusion from occupational pension schemes. Additionally, this professional group is subject to the military code and is characterised by a strong socio-economic homogeneity within the specific population. This setting makes the retirement planning for Zeitoffiziere an instructive subject for economic analysis: Zeitoffiziere are a very homogenous group that requires private pension schemes while being subject to the tight military code for a long time, reducing their options during their time of active-duty service. The thesis analyses the question of retirement planning for Zeitoffiziere from two different perspectives. First, it examines which share of their gross income the current generation of Zeitoffiziere should invest into retirement schemes, taking into account all financially relevant aspects of life. Secondly, it analyses how young professionals in a particular situation can be supported in the financial decision-making process in order to find optimal solutions on their own, without being restricted to pre-defined plans and without being manipulated. The results for this well-defined particular group of young professionals and the software tools developed for this project can provide input for further research on retirement planning for other professions or groups. In a first step, the thesis identifies and analyses in detail the various aspects that need to be taken into account for the financial retirement age planning of the Zeitoffiziere, i.e. the legal, fiscal, market and macroeconomic conditions. As this approach requires a substantial amount of information, the secondary data sources (socio-economics studies and scientific literature) were complemented by first hand surveys on the situation of active and former Zeitoffiziere. On this bases, a life-cycle model was developed, which uses Monte-Carlo simulations to analyse the courses of life for different ideal typical groups of young professionals clustered by preferences and expectations. This makes it possible to optimise retirement planning behaviour for individual strategies such as maximising consumptive utility, minimising poverty risks or reaching a certain amount of annuity (minimum or desired level) with minimal financial effort. Additionally, distributing this tool (which is built on standard software) can contribute to raise awareness for the abstract and complex issue of retirement planning in a playful way. In particular, it can demonstrate the necessity of early planning, and it can help its users to explore their own – usually latent – preferences concerning the remote stage of their retirement age and to plan accordingly.
Aus traditioneller Sicht erscheint Vollbeschäftigung heute als utopisches Ziel. Aus dieser Sicht wäre mittelfristig mit einer Beschäftigungslücke von 6,5 Millionen in der Bundesrepublik Deutschland zu rechnen. Stille Reserve und versteckte Arbeitslosigkeit sind dabei noch nicht mit einbezogen. Arbeitsmarkt- und Sozialpolitik unterstützen heute schon eine Vielfalt institutioneller Alternativen zur regulären Erwerbstätigkeit, d.h. der ununterbrochenen Vollzeitbeschäftigung. Diese Alternativen - z.B. Fortbildung und Umschulung, Arbeitsbeschaffungsmaßnahmen, Elternurlaub und vorzeitige Verrentung - entsprechen einem Beschäftigungspotential (Vollzeitäquivalent) von 2,5 Millionen und tragen in entsprechendem Umfang zu einer Annäherung an das Vollbeschäftigungsziel bei. Eine Strategie flexibler Arbeitsmarktübergänge könnte diese Alternativen verbessern und ihr Beschäftigungspotential mittelfristig um weitere 1 , 5 - 2 Millionen bereichern. Anstatt einen zweiten Arbeitsmarkt zu errichten* der absehbar vom ersten Arbeitsmarkt abgeschottet wird und dessen Funktionsweise beeinträchtigt, kombinieren Übergangsarbeitsmärkte reguläre Erwerbsarbeit mit anderen gesellschaftlich oder persönlich nützlichen Aktivitäten wie Lernen, Erziehen, kulturelles Gestalten, politische Beteiligung und soziales Engagement. Übergangsarbeitsmärkte könnten auf diese Weise einen effizienten Elastizitätspuffer schaffen, der in Rezessionsphasen expandiert und in Expansionsphasen kontrahiert. Sie wären eine realistische und moderne Alternative zur Zweidrittel-Gesellschaft, in der die einen zuviel an Arbeit und die anderen zu wenig haben. Im Hauptteil der Arbeit werden fünf Übergangsmärkte unterschieden: Übergänge zwischen Kurz- und Vollzeitbeschäftigung bzw. zwischen Arbeiten und Lernen, Übergänge zwischen Arbeitslosigkeit und Beschäftigung, Übergänge zwischen Bildung und Beschäftigung, Übergänge zwischen privaten oder sozialen Aktivitäten und Erwerbstätigkeit, und schließlich Übergänge zwischen Beschäftigung und Rente oder Pension. 18 existente oder mögliche Beschäftigungsbrücken werden beschrieben: Ihr schon heute realisiertes Beschäftigungspotential in Ost- wie in Westdeutschland wird identifiziert, Möglichkeiten ihrer Verbesserung und Erweiterung werden diskutiert, und das Beschäftigungspotential von Innovationen wird geschätzt. Der nachfolgende Teil der Arbeit befaßt sich mit der Finanzierung einer zukunftsgerechten Arbeitsmarktpolitik. Arbeitnehmer in Übergangsarbeitsmärkten beziehen gleichzeitig reguläre, tariflich ausgehandelte Vergütung und Transferzahlungen. Dies setzt in der Regel eine Kombination mehrerer Finanzierungsquellen voraus. Aber auch die Anreizstrukturen müssen verändert werden, um die Akzeptanz von Übergangsmärkten bei Erwerbstätigen wie Betrieben zu fördern. Das System der Arbeitslosenversicherung muß deshalb konsequenter als bisher auf eine Beschäftigungsversicherung mit breiterer Finanzierungsbasis umgestellt werden. Um institutionelle Inkongruenzen bei Gebietskörperschaften, Bundesanstalt für Arbeit wie Sozialversicherungsträger zu vermeiden, wird ein regelgebundener Bundeszuschuß zu den Beiträgen der Bundesanstalt für Arbeit vorgeschlagen. Auch unter den günstigsten Bedingungen wird die Strategie von Übergangsarbeitsmärkten das Ziel eines neuen Verständnisses von Vollbeschäftigung nicht erreichen. Die hier geschätzte verbleibende Beschäftigungslücke von mehr als zwei Millionen verweist darauf, daß es nach wie vor auf eine koordinierte Geld-, Fiskal- und Lohnpolitik ankommt, um qualitatives Wachstum im privaten und öffentlichen Bereich zu fördern. Mehr noch: eine solche Politik ist notwendige Voraussetzung für die Erweiterung von Übergangsmärkten, ebenso wie letztere wiederum die erforderliche Flexibilität für qualitatives Wachstum schaffen. Insofern sind Arbeitsmarkt- und Beschäftigungspolitik untrennbare Zwillinge. ; Full employment seems to be a utopian goal from the traditional point of view. From this perspective, a gap of 6.5 million employment opportunities would have to be expected for Germany in the medium-term. The silent reserve and hidden unemployment are not yet included in this calculation. In these days, labour market policy and social policy already Support a variety of institutional alternatives to regulär labour force participation, which means uninterrupted full-time employment These alternatives - such as further training and retraining, temporary public job creation, paid parental leave and early retirement - correspond to an employment potential of 2.5 million (full-time equivalent) and contribute respectively in reducing unemployment. The strategy of flexible transition labour markets could improve these alternatives and enhance their employment potential by 1.5 - 2 million in the medium-term. Instead of establishing a second labour market which would quite likely be segmented from the first labour market with negative repercussion on the latter, transition labour markets combine regulär employment with other activities like learning, educating, cultural creativity, political participation, social work, all of which are userul in personal or social terms. Through this, transition labour markets would create an efficient buffer of elasticity which expands in recessionary periods and contracts in boom periods of the economy. They would be a realistic and modern alternative to the two-third-society in which some have too much work and others too little. In the main part of the paper, five transition markets are distinguished: Transitions between short-time and full-time work or between work and training, transitions between unemployment and employment, transitions between education and employment, transitions between private or social activities and employment, and finally transitions between employment and retirement. 18 existing or possible employment bridges are described: their realized employment potential in East Germany and West Germany is identified, possibilities of improvement and extension are discussed, and the employment potential of innovations is estimated. The following part of the paper tackles financing problems of a corresponding modern labour market policy. Workers in transition labour markets receive regulär salaries and transfer payments during this period. This normally requires a combination of several financing resources. In addition, incentive structures will have to be changed for increasing employees' and firms1 acceptance of transition markets. The System of unemployment insurance, therefore, will have to be transformed into a System of employment insurance with a broader financing basis. A regulär and conditional grant of the federal State to the federal employment office (i.e., the integrated office for unemployment insurance and active labour market policy) is proposed to avoid institutional incongruencies among State agencies, the federal employment office, and other institutions of social security. Even under the most favourable conditions, the strategy of transition labour markets alone would not reach the goal of full employment in the new sense. The remaining employment gap of more than two million hints on the further necessity of coordinating money policy, fiscal policy and wage policy for enhancing qualitative growth in the private and public sphere. Even more: such a policy would be the precondition for extending transition markets as well as the latter to provide the necessary flexibility for qualitative growth. In this sense, labour market policy and employment policy are twins that cannot be separated.