Changing of Industries and the Law

Lawyers in different practices have told me that the law is constantly changing and the inexorable need to stay up to date on what will impact their clients. During the first year of law school, we learned about different jurisdictions and the varying rules. We also learned about policy and what is right and wrong with the law. However, during classes, we were taught the law in somewhat black and white letters. Although I learned an immense amount during my first year in law school, this summer has opened my eyes to the need to constantly ensure that the laws have not changed and that government licensing has not been revoked.

At the start of my internship with Open Development Cambodia, I created profiles for each stakeholder and company investing in the oil and gas industry. In Cambodia, the oil and gas fields are broken up into different blocks. When I originally made a profile for KrisEnergy, one of the larger investors in the oil and gas industry, they possessed a 95% stake in Block A. However, going back over the profiles, laws have changed within the country, and KrisEnergy is liquidating its assets due to a list of issues. Not only is the law constantly changing but so are the stakeholders in ventures—especially in newly emerging industries like that in Cambodia. Going back over all the profiles and editing any changes that have been made is a reminder of the need to stay up to date on both the industry and changes in the law. Additionally, with KrisEnergy liquidating its assets, the Cambodian government must now look to other investors to foster the much-needed revenue. After losing an estimated 1.1 billion in the garment sector, Cambodia was relying on the newly emerging oil and gas industries to create jobs and make up for the lost revenue. This explains the push for economic development especially in Cambodia's oil and gas sector by the government and is one topic that I focus on in my papers.