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Public Policy and Oil Industry Mergers
Social Disease or Healthy Adaptation?
Monopoly and Antitrust Policy
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acquired acquisition agreements Alcoa already discovered oil American Tobacco anti anti-merger Antitrust and Monopoly antitrust laws antitrust policy argued Armentano AT&T average Bell system billion Bork capital collusive competition competitors concentration consolidations consumers Corporation cost courts crude oil divestiture dollars economists evidence exploration F. M. Scherer Federal Trade Commission forces free society Getty growth Herfindahl index Hillsdale College horizontal mergers increase investors Journal of Law Law and Economics less efficient long-distance Ludwig von Mises market shares market structures marketplace measured ment merger activity monop monopoly power Oil Company oligopoly OPEC output percent perspective petroleum industry prevent mergers price-fixing pricing behavior production Professor Armentano public policy reason reduce Reed regulation regulatory restrict Sherman Act Standard Oil Texaco theory tion traditional trust trust laws U.S. Crude U.S. Steel United States Steel Unocal vigorous W. T. Grimm Yale Brozen