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Saturday, July 18, 2020 | History

2 edition of American oil industry: a failure of anti-trust policy found in the catalog.

American oil industry: a failure of anti-trust policy

Stanley H. Ruttenberg & Associates

American oil industry: a failure of anti-trust policy

a study of the structure and operations of the oil industry and the need for immediate and effective anti-trust action

by Stanley H. Ruttenberg & Associates

  • 245 Want to read
  • 2 Currently reading

Published by Marine Engineers" Beneficial Association in [New York] .
Written in English

    Subjects:
  • Petroleum industry and trade -- United States,
  • Petroleum law and legislation -- United States,
  • Antitrust law -- United States

  • Edition Notes

    ContributionsNational Marine Engineers" Beneficial Association (U.S.)
    The Physical Object
    Paginationviii, 160 p.
    Number of Pages160
    ID Numbers
    Open LibraryOL14632915M

      John D. Rockefeller (), founder of the Standard Oil Company, became one of the world’s wealthiest men as America's first billionaire and a major philanthropist.   Cartel: A cartel is an organization created from a formal agreement between a group of producers of a good or service to regulate supply in an effort to regulate or manipulate prices. In other.

    The Paley Commission recently reported that private American investment abroad in the petroleum industry has risen from billion dollars in to billion dollars in ; and that the ratio of earnings to book value on such direct foreign investments was % in , whereas the ratio on domestic petroleum investment was only %. Sherman Antitrust Act, first legislation enacted by the United States Congress () to curb concentrations of power that interfere with trade and reduce economic competition. It was named for U.S. Senator John Sherman of Ohio, who was an expert on the regulation of commerce.

    But, by , American Sugar Refining was forced to abandon this costly policy as a losing proposition. When it did so, in , the Sugar Trust, including its cartel, only controlled 70% of total sugar production, which included 70% of total beet sugar production.   The Federal Meat Inspection Act of came about largely due to the conditions in the meat packing industry that were detailed in great depth in Upton Sinclair's novel, "The Jungle." The novel was intended, by the author, to be a detailed account of the harsh working conditions surrounding manufacturing in the late 19th and early 20th.


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American oil industry: a failure of anti-trust policy by Stanley H. Ruttenberg & Associates Download PDF EPUB FB2

Get this from a library. The American oil industry: a failure of anti-trust policy. [Norman Medvin; Stanley H. Ruttenberg & Associates.; National Marine Engineers' Beneficial Association (U.S.)]. As the penetrating book, The American Oil Industry: A Failure of Anti-Trust Policy, puts it: “The myriad relationships which exist especially among the seven integrated oil companies (are) based on concentration of control, interlocking directorates, financial services, joint ventures, professional conformity, reciprocal favors.

Next to impeachment, the American oil industry may be the hottest conversational topic around. But as a book title, “The American Oil Industry” (subtitled, “A Failure of Anti‐Trust Policy. “Juhasz bravely and expertly exposes the inner workings of an industry and a government riddled with secrets, lies, and deception.” —Daniel Ellsberg, author of Secrets: A Memoir of Vietnam and the Pentagon Papers.

In the tradition of the Academy Award-winning documentary An Inconvenient Truth, Antonia Juhasz’s The Tyranny of Oil offers a chilling exposé of the modern American oil 4/5(28). The Sherman Antitrust Act (Sherman Act, July 2,ch.26 Stat.15 U.S.C. 1–7) was the first United States Federal statute to limit cartels and falls under antitrust.

The American Petroleum Institute (API) is the only national trade association that represents all aspects of America’s oil and natural gas industry. Our more than corporate members, from the largest major oil company to the smallest of independents, come from all segments of the industry.

Finally, Russia and other countries slapped high protective tariffs on American oil; this allowed inefficient foreign drillers to compete with Standard Oil.

The Austro-Hungarian empire, for example, imported over half a million barrels of American oil in ; but, by they were buying none. In his masterpiece, Antitrust and Monopoly: Anatomy of a Policy Failure, Dominick Armentano carefully examined fifty-five of the most famous antitrust cases in U.S.

history and concluded that in every single case, the accused firms were dropping prices, expanding production, innovating, and generally benefiting consumers. It was their less. 30 Tennant, The American Cigarette Industry, pp.

31 U.S. Research and Brief, U.S.Appendix "P," p. 32 Tennant, The American Cigarette Industry, p. 33 The "plug war" () is prob­ably the most famous example. During this "war," American sold plug at a loss until the large independent plug manu­facturers defaulted. John D. Rockefeller came to dominate the oil industry; he was a successful businessman at nineteen and one upward stride led to another, and inhe organized the Standard Oil Company of Ohio, nucleus of the great trust formed in Other trusts blossomed along with the American Beauty of oil; these included the sugar trust, the.

Fracking has started again in the UK after a 7 year abeyance. Time to update my August presentation suggesting this is a very bad idea. Was the governor of the U.S. state of Illinois from until He was the first Democratic governor of that state since the s.

A leading figure of the Progressive Era movement, he improved workplace safety and child labor laws, pardoned three of the men convicted of the Haymarket Riot, and, for a time, resisted calls to break up the Pullman strike with force.

The Republican policy of maintaining tariff protection for American industry mitigated deflation on the domestic market, but the return to the gold standard with the Resumption Act ofwhich later became a major political issue, created compensatory deflationary pressure that contributed to the general decline in prices.

The next point in the petroleum industry from an anti-trust standpoint was not a case but a book: A National Policy for the Oil Industry, by Eugene V. Rostow, published in It probably resulted from the studies by the Temporary National Economic Committee in the latter years of the Roosevelt administration and from the Senator O'Mahoney Author: Richard J.

Archer. The economic history of the United States is about characteristics of and important developments in the U.S. economy from colonial times to the present. The emphasis is on economic performance and how it was affected by new technologies, especially those that improved productivity, which is the main cause of economic covered are the change of size in economic sectors and the.

Founded by John D. Rockefeller. Largest unit in the American oil industry in Known as A.D. Trust, it was outlawed by the Supreme Court of Ohio in Replaced by. The Sherman Anti-Trust Act passed the Senate by a vote of 51–1 on April 8,and the House by a unanimous vote of –0 on J President Benjamin Harrison signed the bill into law on July 2, A trust was an arrangement by which stockholders in several companies transferred their shares to a single set of trustees.

Start studying American history - big business and labor notes. Learn vocabulary, terms, and more with flashcards, games, and other study tools.

owner of Standar Oil Company who created monoploy over the oil industry by using the trust. the policy of protecting the interest of white native born or established inhabitants against immigrants.

#41 – “Rockefeller’s Standard Oil Proved That We Needed Anti-Trust Laws” (Editor’s Note: This article first appeared in The Freeman, the journal of the Foundation for Economic Education, FEE, in March Footnotes can be found in that version on The author is president of FEE and the editor of this series of “Clichés.”).

"Independent production" is a much-used but rarely defined phrase in the American film industry. In historical context, the phrase refers to a move away from a factory-like system where all aspects of a production are handled by studio employees, and toward a flexible, free-lance system where the personnel and other elements of a production are.

Consider Barry Lynn’s book, “Cornered,” which carefully detailed the rising concentration and consolidation of nearly every American industry since the nineteen-eighties.See also Stanley H.

Ruttenberg, The American Oil Industry: A Failure of Anti-Trust Policy (Washington, D. C.: Marine Engineers Beneficial Association, ) Google Scholar Anthony Sampson, The Seven Sisters: The Great Oil Companies and the World They Shaped (New York: Viking, ) Google Scholar.

Antitrust laws are applied to a wide range of questionable business activities, including but not limited to market allocation, bid rigging, price fixing, and monopolies.

Below, we take a look at.