Horizontal integration of the energy industry. Hearings before the Subcommittee on Energy of the Joint Economic Committee, Congress of the United States, Ninety-Fourth Congress, First Session, November 19 and December 8, 1975

Book · Thu Jan 01 04:00:00 EST 1976

OSTI ID:7116700

Two days of hearings were held to address the issue of how domestic energy resources should be controlled and, specifically, the recent development of oil companies buying major shares in coal, uranium, geothermal, and other energy industries. Senator Edward Kennedy, committee chairman, expressed concern that horizontal integration could serve to eliminate competition between both companies and resources and could give enormous economic and political power to the oil industry. Witnesses included Mayor Alioto of San Francisco and representatives of the oil companies, the Federal Trade Commission, and economists. Speaking for the U.S. Conference of Mayors, Alioto cited the Department of Justice for not dealing with the problem of interlocking controls, and looks to legislative processes to ensure a free competitive market for energy resources. Economist John Wilson expressed concern that other resources may follow the same route of bad regulatory policies and monopolized control as the petroleum industry. Oil executive C. Howard Hardesty, Jr. pointed out that with domestic energy needs so broad, the nation should welcome those willing and able to contribute. He also stated that horizontal integration stimulates competition within each energy industry. Speakers submitted data on consumption, production, prices, income, and affiliate acquisitions of energy industries. (DCK)

• OSTI ID: 7116700
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
021000 -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000* -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002 -- Energy Planning & Policy-- Petroleum
CHARGES
COAL INDUSTRY
ECONOMICS
ENERGY
ENERGY CONSUMPTION
ENERGY DEMAND
ENERGY POLICY
ENERGY SOURCES
GEOTHERMAL ENERGY
GOVERNMENT POLICIES
HEARINGS
INCOME
INDUSTRY
INVESTMENT
LEGISLATION
MANAGEMENT
MARKET
NUCLEAR INDUSTRY
PETROLEUM INDUSTRY
REGULATIONS
RENEWABLE ENERGY SOURCES