MARKET PERFORMANCE AND COMPETITION IN THE PETROLEUM INDUSTRY HEARINGS BEFORE THE SPECIAL SUBCOMMITTEE ON OF THE COMMITTEE ON INTERIOR AND INSULAR AFFAIRS Pursuant to S. Res. 45 A National Fuels and Energy Policy Study NINETY-THIRD CONGRESS SPECIAL SUBCOMMITTEE ON INTEGRATED OIL COMPANIES On July 31, 1973, Senator Henry M. Jackson, chairman of the Committee on Interior and Insular Affairs, established the Special Subcommittee on Integrated Oil Operations. As chairman of the special subcommittee, Senator Floyd K. Haskell convened hearings on November 28, 1973, for the purpose of delineating, first, the structure of the petroleum industry, and second, performance and conduct of their operations, in order to formulate a factual basis upon which new and effective public policies may be formulated. These hearings, held by Senator Haskell's Special Subcommittee on Integrated Oil Operations, are the first phase of a longer investigation by the Committee on Interior and Insular Affairs to examine the structure and operations of the energy industry to determine whether it operates in a competitive manner and thus in the best interest of the country. COMMITTEE ON INTERIOR AND INSULAR AFFAIRS This publication is a background document for the National Fuels and Energy Policy Study authorized by Senate Resolution 45, introduced by Senators Jennings Randolph and Henry M. Jackson on February 4, 1971, and considered, amended, and agreed to by the Senate on May 3, 1971. The resolution authorized the Senate Interior and Insular Affairs Committee, and ex-officio members of the Committees on Commerce and on Public Works and the Joint Committee on Atomic Energy, to make a full and complete investigation and study of National Fuels and Energy Policies. Subsequently, on March 1, 1974, in the furtherance of the purposes of Senate Resolution 45 (92d Congress), the Senate approved the addition of ex-officio members from the Committees on Finance, on Foreign Relations, on Government Operations, and on Labor and Public Welfare, also. COMMITTEE ON INTERIOR AND INSULAR AFFAIRS ALAN BIBLE, Nevada J. BENNETT JOHNSTON, JR., Louisiana PAUL J. FANNIN, Arizona JERRY T. VERKLER, Staff Director EX-OFFICIO MEMBERS FOR NATIONAL FUELS AND ENERGY POLICY STUDY WILLIAM J. VAN NESS, Chief Counsel GRENVILLE GARSIDE, Special Counsel and Study Coordinator DAVID STANG, Deputy Director for Minority (III) Bartlett, Hon. Dewey F., a U.S. Senator from the State of Oklahoma__. Fannin, Hon. Paul J., a U.S. Senator from the State of Arizona__. Gunter, Hon. Bill, a Representative from the State of Florida---. Haskell, Hon. Floyd K., a U.S. Senator from the State of Colorado-- Jackson, Hon. Henry M., a U.S. Senator from the State of Washington___ Shumway, Forrest N., president, the Signal Companies, Inc---- 1455 1453, 1486 1512 COMMUNICATIONS Fortas, Hon. Abe, memorandum to Mark J. Millard, dated January 28, 1465 Gunter, Hon. Bill, Representative from the State of Florida, letter to Hon. 1415 Haskell, Hon. Floyd K., a U.S. Senator from the State of Colorado: Members of the Special Subcommittee on Integrated Oil Operations, 1462 ADDITIONAL INFORMATION "Nixon Approved Vast U.S. Oil Cartel," by Kenneth C. Crowe, from the 1415 S. Res. 33-Authorizing additional expenditures by the Committee on Interior and Insular Affairs for inquiries and investigations----- Fisher, Dr. John, General Electric Co., New York, N.Y. 1559, 1567 1531 |