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Divestiture Debate Evolves in Oil Industry
A wide debate in Washington centers on breaking up the oil giants through vertical and horizontal divestiture. The Senate Judiciary Committee advanced a bill by Birch Bayh, while opponents warn higher prices and dependence on foreign energy. The issue, rooted in the industry’s vast concentration and interlocking operations, centers on production, refining, and marketing control and the impact on consumers.
MENTIONED IN THIS ARTICLE
Washington
Congress
Senate
United States
Senate Judiciary Committee
Birch Bayh
Indiana
Philip A. Hart
Michigan
Edwin Drake
Titusville
Sam Rayburn
Lyndon Johnson
Texas
Northeast
Machiasport
Senate Antitrust and Monopoly Subcommittee
Judiciary Committee
Energy Action Committee
Paul Newman
Bayh
Neil J. Jacoby
University of California At Los Angeles
U.S