Cross-Border Startups: Innovation Across U.S. and Canada

OMG, like this feature is totally lit! The rules in the upstream sector are created from a super cool and interactive process of rule-making, ya know?  OMG, like Martin and Park (2010) totally spill the tea on the upstream sector. They're all about how these peeps in the industry work together, even when they're low-key competing for new acreages or have diff interests, like HCs and oil companies. The use of model contracts, flexed by industry associations, shows that we're all about that teamwork, trying to keep costs low and level up our efficiency game. 

Therefore, TLO brings together hard-law and soft-law and also includes rules produced by private actors, such as industry associations and transnational companies, which take the form, like, ya know?

This is like, because the whole process of drafting the transnational rules that make up the upstream sector involves different peeps acting in all three orders – national, international, and transnational. So like, the rules made by the IGOs, for example, will be totally influenced by the rules made by the powerful HCs that have their own regulation as a reference, or by standards developed by professional associations, like the codes of conduct that consolidate the industry practices, ya know? Also, like, self-regulatory rules, you know, like industry vibes, contract models, or risk allocation models may be all about rules produced by some lit reference HC, or they might just follow guidelines from some IGO, international NGOs, academia, or a socially responsible investor network. So, like, the international and transnational rules for the upstream sector will totally affect the national rules and contracts when they're copied in a specific way, when they're needed in a broad way like performance-based regulation, or even when they impact how the national rules are made for the upstream sector. Model contracts, like, even if they're used in private deals that get resolved in arbitral courts, they still gotta be recognized and enforced by the HC where the E&P stuff goes down. It's like totally possible to peep the HCs using model contract clauses in their E&P contracts and how those clauses influence their upstream sector rules.

It's like super important to flex arbitration decisions as transnational rules, ya know? 

Like, even though they're made by international non-state organizations and stuff, they still gotta be recognized by the national legal system to be executed locally. It's all about that TLO vibe, you feel me? For this author "(u)nder the old, and now, yeeted, local law theory, application of foreign law was like, literally seen as adoption (...) Under modern approaches that assumes that what is applied is actually foreign law, that application can still be seen as an adoption for the concrete case". Figure 6 flexes a representation of this process of incorporating different types of transnational rules by a national legal order of a given country.

The E&P activities that make up the upstream sector are like, totally done within the limits of a given HC, you know? So, like, the deal between the HC and the IOCs or NOCs, like, legit follows the rules set by the government. Even like, the vibes between IOCs, NOCs, and service companies, based on self-regulation that relies on arbitral tribunals for conflict resolution, depend on national institutions to recognize arbitral awards arising from these courts, you know? According to Wawryk (2002), the petroleum industry peeps and various orgs work together to make global standards and practices lit. Weaver (2017) spills the tea that codes of conduct are made through a lit multi-stakeholder collab process that involves companies, either solo or through a squad, HCs, NGOs, local communities, and international organizations.imma, like, implementation, and practice among the transnational, international, and national orders. ya know?

Referring to industry vibes in treaties and contracts, especially in E&P contracts and regs, is a flex that's been lowkey embraced by HCs.

The OGP Report No. 426 of 201038 is all about how 14 countries in Europe are totally vibing with industry practices when it comes to regulating stuff. It's like a major flex for the regulators, especially when it comes to offshore operations in the upstream sector. So important, fam! According to Walde (2004), these practices can help keep these instruments on fleek since they bring mad flexibility, or the ability to adapt to technical and social changes much faster than multilateral treaties. As like, China and India are totally flexin' on incorporating these practices into their national legal order, ya know? In relation to risk allocation models, they may be set up in E&P contracts or in the HCs' rules. So, like, they're totally included in the national legal stuff by the action of public agencies responsible for making E&P contracts or regulating the upstream sector in a specific HC. OMG, like Weaver (2017) says that codes of conduct have been used in national courts to confirm good vibes in a conflict, or when interpreting an oil contract or regulation. Lit! Its guidelines also lowkey flex on how the content of upstream sector's regulation drafting goes down.