US oil company participation in the Intenational Energy Program. Twelfth semiannual report to the Congress and the President
Under the EPCA's semi-annual reporting requirement, the Commission is required to evaluate the impact on competition and small business of oil company activities pursuant to the voluntary agreement and plan of action. This report has set out industry activities and related events over the past six months and attempted to assess whether any International Energy Program (IEP) may have an effect on competition and small business. Many safeguards have been included in the Voluntary Agreement to minimize the potential anticompetitive effect. These include advance notice of meetings, government monitoring or meetings, the maintenance of full and complete records, confinement of most IEP activities to the meeting context, and the prohibition against dissemination of confidential information outside of the meetings. During the past six months the industry assisted the IEA to evaluate and improve its data collection systems, to consider appropriate actions in sub-crisis situations, to analyze current and future market developments, and to plan the next allocation system test. We consider the discussions that occurred during these meetings to be of little competitive concern. During the ISAG training session, the companies received a clearance to receive material containing confidential information used during AST-3. The Commission considered the antitrust risks when this information was first used to be minimal. The information was dated, frequently distorted by hypothetical disruption scenarios and possibly disguised by the submitting company. The risks during its re-use were further attenuated. During the next six months, the IEA and its industry groups will be planning AST-4. This exercise may be the first to consider the impact of pricing on the IEP system. As the industry discusses this sensitive area, the Commission will be monitoring the deliberations carefully to ensure that the goals of the IEP will be met in the least anticompetitive manner.
- Research Organization:
- Federal Trade Commission, Washington, DC (USA). Bureau of Competition
- OSTI ID:
- 5513046
- Report Number(s):
- NP-2904256; ON: DE82904256
- Country of Publication:
- United States
- Language:
- English
Similar Records
International energy program and United States antitrust law
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Related Subjects
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
ALLOCATIONS
COMPETITION
COOPERATION
COST
DATA ACQUISITION SYSTEMS
ECONOMIC IMPACT
ENERGY SOURCES
EVALUATION
FOSSIL FUELS
FUELS
IMPORTS
INDUSTRY
INTERNATIONAL COOPERATION
INTERNATIONAL ENERGY AGENCY
INTERNATIONAL ORGANIZATIONS
NORTH AMERICA
OPTIMIZATION
PETROLEUM
PETROLEUM INDUSTRY
PLANNING
USA