Federal financial incentives to induce early experience producing unconventional liquid fuels / Frank Camm, James T. Bartis, Charles J. Bushman.

Includes bibliographical references (pages 75-77).

"RAND Project Air Force and Infrastructure, Safety, and Environment."

Introduction -- Designing an effective long-term public-private relationship -- Assessing financial effects under uncertainty --Policy effects with 100-percent equity financing -- Policy effects with debt financing -- Implications for robust financial-incentive packages -- Can formal source selection help the government create an integrated policy? -- Conclusions -- Appendixes: A. Structure of the spreadsheet analysis that implements the cash-flow model -- B. How debt and loan guarantees affect investors and the government.

The government, as a principal, may seek to induce a private investor, as anagent, to build and operate an unconventional-oil production plant topromote early production experience with such plants. Facing significantuncertainty about the future, it also wants to limit the cost to the publicof doing this. This report offers an analytic way to design and assesspackages of policy instruments that the government can use to achieve itsgoal.

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