Eminent Domain and Regulatory Changes

Luis Erize

in Property and the Law in Energy and Natural Resources

Published in print February 2010 | ISBN: 9780199579853
Published online May 2010 | e-ISBN: 9780191722745 | DOI:
 							Eminent Domain and Regulatory Changes

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The concept of eminent domain is defined more as an emanation of public powers than as an outright property right, referring thus to the authority of the Sovereign to legislate and to set forth rules applicable to the private parties. The two main issues that appear constantly in this sector are: (i) the Sovereign rights and authority over underground natural resources (eminent domain) versus the acquired rights (and thus, property rights) by holders of title to exploit such resources (with respect to reserves, as well as to the hydrocarbons produced); and (ii) the limits to regulatory powers, especially facing what is now being invoked as a state of necessity, whether as an exception to international law standards' enforcement or as a modification of the latter. The nature of the eminent domain is affirmed in Argentina's Hydrocarbons Law and in its Constitution, which refers to it as dominio originario in the new section 124. This chapter analyses the past, present and future of Argentine regulations in the light of the dialectic interplay between state intervention policies and private business initiative. It also describes the new scenarios resulting from these changes.

Keywords: property ownership; natural resources; property law; Argentina; petroleum resources

Chapter.  12598 words. 

Subjects: Public International Law

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