Natural Resources: Federal Control over Indian Timber

Federal Timber Restrictions and Interregional

Hrrn~e.sting restrictiom to protect the hahitcrt of the northem .sptted wt.1 011 ,federul ,forests in t/w PNC$C Nor-tim*e.st (Ph’lV) .substalrticrii~ reduced timber cit~~~ilrL7le ,for ptwe.~~5iil,g h!. the ,fore.st prodwts irldwsty. We consider tile e-vtent to tcAici7 tiiese restrictioris my iitr\~ riitered the degree of irltegrcitim of the PNW u11d U.S. South ii7 (I mitioricil mrrket ,fi)r i~r...

Against ‘permanent sovereignty’ over natural resources

The doctrine of permanent sovereignty over natural resources is a hugely consequential one in the contemporary world, appearing to grant nation-states both jurisdiction-type rights and rights of ownership over the resources to be found in their territories. But the normative justification for that doctrine is far from clear. This article elucidates the best arguments that might be made for perm...

Tourism And Natural Resources

Federal Tax Law Trumps Indian Canon

On November 27, 2001, the Supreme Court ruled in Chickasaw v. United States that Native American gaming (NAG) firms are subject to federal excise and occupational taxes. Prior to the decision, these firms had been exempt from all federal taxation. We hypothesize that Chickasaw improves the competitive position of publicly traded gaming firms and their suppliers by leveling the playing field for...

Timber Price Dynamics following a Natural Catastrophe

Catastrophic shocks to existing stocks of a renewable resource can cause long-run price shifts. With timber, these long-run price shifts may be accompanied by a short-run price drop due to salvage. Hurricane Hugo damaged 20% of southern pine timber in the South Carolina Coastal Plain in 1989. To estimate the shortand long-run effects of the hurricane on the prices of timber stocks, we estimated...