Regulatory overkill and the petroleum industry

Journal Article · Mon Dec 01 04:00:00 EST 1975 · Prof. Eng. (Wash., D.C.); (United States)

OSTI ID:7348217

DiBona, C J

The petroleum industry is one of the most heavily regulated industries in the U.S. Federal regulations as of August 31, 1975 could dictate on exploration, locating pipelines, siting of refineries, what products to make, to whom to sell (and where), in what quantities, and at what price for the products. The author believes these regulations along with the local county and state regulations have reduced the efficiency and effectiveness of the petroleum industry. The industry feels that regulations have gone too far and that it is now in the phase of ''regulatory overkill.'' In the short run it may be possible to redistribute income from producers to consumers via price controls. But the long-run effects inevitably are fewer domestic petroleum reserves and less production. (MCW)

• Research Organization: American Petroleum Inst., Washington, DC
• OSTI ID: 7348217
• Journal Information: Prof. Eng. (Wash., D.C.); (United States), Journal Name: Prof. Eng. (Wash., D.C.); (United States) Vol. 45:12; ISSN PENRB
• 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
CONTROL
ECONOMICS
EFFICIENCY
ENERGY POLICY
ENERGY SUPPLIES
GOVERNMENT POLICIES
INDUSTRY
PETROLEUM INDUSTRY
REGULATIONS
RESERVES
RESOURCES