The authors briefly review the literature on the performance of the Organization of the Oil Exporting Companies (OPEC) in its attempts to stabilize oil prices. It also considers how the high price of oil has enabled certain non-OPEC countries to become major players as oil and gas producers and what the potential implications are for accounting standard regulators given the risks attached to identifying viable reserves of oil and gas.

OPEC, Oil Prices and Problems for the International Accounting Standards. Russell, Alex and Ibrahim, Mas'ud Usman, Summer 2013, pp. 1‑11.

An overview of current legislative and regulatory changes is provided in this article.

2013 Legislative and Regulatory Update: A State-by-State Guide. Wilkinson, Bob, Summer 2013, pp. 12‑23.

A review of the potential savings an oil or gas company can realize by being aware of sales tax exemptions and why companies may neglect to capitalize upon such tax savings opportunities.

Substantial Texas Sales Tax Refund Opportunities Available for the Oil and Gas Industry. Wallace, Chris, Summer 2013, pp. 35‑45.

This article discusses domestic oil and gas companies that have accumulated leaseholds in shale plays and have structured joint venture (JV) transactions with a “carry” provision to fund a portion of their capital requirements.

International Joint Ventures. Selzer, Howard, Summer 2013, pp. 46‑49.

A look at global fraud trends, generally classified into three categories: corruption, asset misappropriation, and financial statement fraud. Anti-fraud programs and assessing risks of fraud are also discussed.

Fraud: A Common Trend in a Unique Industry. Wilks, Leslie and Lozano III, Felix J., Summer 2013, pp. 50‑57.

This paper provides a summary of the 2013 KPMG energy survey, including energy independence, natural gas use, managing the energy mix and leveraging technology.

2013 Energy Industry Outlook Survey. KPMG, Summer 2013, pp. 58‑78.