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Interfuel competition. Hearings before the Subcommittee on the Judiciary, United States Senate, Ninety-Fourth Congress, First Session on S. 489

Book ·
OSTI ID:7355526
The Interfuel Cmpetition Act of 1975 would prohibit producers and refiners of petroleum or natural gas from ownership of any interest in the coal, oil shale, uranium, nuclear reactor, geothermal steam, or solar industries. Eight oil companies (seven domestic) already control two-thirds of the U.S. oil industry. This bill is designed to keep them from extending their control to other energy sources. During hearings, Sen. James Abourezk expressed concern that the energy program should not replace dependence on a small group of oil exporting countries with dependence on a small group of domestic companies. Sen. Bartlett, in disagreeing, felt that the bill would be counterproductive and would discourage competition and reduce available capital. Twenty witnesses representing Government and private industry discussed effects of amending the Clayton Act, possible redistribution of reserves to the Middle East, the results of oil company control over coal reserves, and possible impacts on the free market. (DCK)
Research Organization:
U.S. Senate, Committee on the Judiciary, Subcommittee on Antitrust and Monopoly, Washington, DC
OSTI ID:
7355526
Country of Publication:
United States
Language:
English