Mobil-Marathon and similar oil company mergers. Hearing before the Subcommittee on Fossil and Synthetic Fuels of the Committee on Energy and Commerce, House of Representatives, Ninety-Seventh Congress, First Session on H. R. 4930

Book · Fri Jan 01 00:00:00 EST 1982

OSTI ID:5044563

Subcommittee chairman Phillip R. Sharp's opening statement notes that a wave of large horizontal and vertical mergers are the result of rising oil prices and oil-reserve values, price decontrol, and a relaxation of anti-merger enforcement by the Reagan administration. US merger activity in 1981 had a $20 billion value, half of which involved oil, gas, mining, and mineral companies. Chairman Sharp further notes that the mergers will raise customer costs and eliminate many small companies, which indirectly retards new exploration. H.R. 4930 requires a study of these effects and provides for a moratorium on larger mergers until the study is completed. The testimony of eight witnesses representing oil companies and related groups follows the text of H.R. 4930. Additional material submitted for the record includes a resolution by the Illinois Petroleum Marketers Association expressing their concern about the impact of mergers. (DCK)

• OSTI ID: 5044563
• Resource Relation: Related Information: Serial No. 97-113
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING
POLICY AND ECONOMY
02 PETROLEUM
ANTITRUST REVIEW
LEGISLATION
PETROLEUM INDUSTRY
HORIZONTAL INTEGRATION
VERTICAL INTEGRATION
COMPETITION
ECONOMIC IMPACT
HEARINGS
INDUSTRY
LEGAL ASPECTS
294002* - Energy Planning & Policy- Petroleum
020700 - Petroleum- Economics
Industrial
& Business Aspects