INTERFUEL COMPETITION HEARINGS BEFORE THE SUBCOMMITTEE ON OF THE COMMITTEE ON THE JUDICIARY NINETY-FOURTH CONGRESS FIRST SESSION ON S. 489 THE INTERFUEL COMPETITION ACT OF 1975 57-567 JUNE 17, 18, 19, JULY 14, OCTOBER 21, AND 22, 1975 Printed for the use of the Committee on the Judiciary U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1976 For sale by the Superintendent of Documents, U.S. Government Printing Office ORAL AND PREPARED STATEMENTS OF SUBCOMMITTEE MEMBERS Abourezk, James, a U.S. Senator from the State of South Dakota, opening Hruska, Roman L., a U.S. Senator from the State of Nebraska-- 178 ORAL AND PREPARED STATEMENTS OF WITNESSES Brinegar, Claude S., senior vice president of the Union Oil Co. of Califor- nia, accompanied by panel members John Hopkins and Carel Otte-‒‒‒‒‒ Buchanan, DeWitt W., president, Old Ben Coal Co., accompanied by Rich- Davidson, Paul, professor of economics and associate director of the Bu- reau of Economic Research at Rutgers, the State University of New Hansen, Clifford P., a U.S. Senator from the State of Wyoming- 119 Prepared statement____ 127 Hopkins, John, acting president, Synthetic Fuels Division, Union Oil Co. of 360 Johnson, Owen M., Jr., Director, Bureau of Competition, Federal Trade Commission, accompanied by James Olson, Assistant to the Director___ Kasch, John E., vice president, Standard Oil Co., Indiana__. Kauper, Thomas E., Assistant Attorney General, Antitrust Division, De- partment of Justice, accompanied by William E. Swope, Deputy Di- Kurland, Norman G., Washington counsel of Kelso Bangert & Co., invest- Moore, Thomas G., professor of economics, Hoover Institute, Stanford, Prepared statement_. O'Leary, John F., Mitre Corp., McLean, Va----. Otte, Carel, vice president and manager of Geothermal Division, Union Oil Prepared statement____. Wagner, Aubrey J., chairman of the board, Tennessee Valley Authority, Wilson, John W., economic counsel, J. W. Wilson & Associates, Washing- 135 152 85 361 262 267 154 94 Prepared statement_____. 107 Wilson, Wallace W., vice president, Continental Illinois National Bank & 234 MATERIAL SUBMITTED FOR THE RECORD "Oil Supply and Tax Incentives," by Edward W. Erickson, Stephen W. 419 "Oil: Its Time Allocation and Project Independence" by Paul Davidson, "An Economic Analysis of Price Increases in the U.S. Coal Industry". FTC, Bureau of Competition-Attorneys currently assigned to Exxon, 498 522 Correspondence between Senator Philip A. Hart and FTC re coal, oil, and Perry, Harry, senior consultant, National Economic Research Associates, 23 Fannin, Paul J., a U.S. Senator from the State of Arizona_ 116 Aidlin, Joseph W., vice president and general counsel of Magma Power Answers to questions asked of Peter Max during hearing on June 17, 1975, 704 Responses to questions asked of Mr. Kasch during the hearing on Octo- 709 DIGEST OF THE HEARINGS TUESDAY, JUNE 17, 1975 Senator Abourezk convenes the hearing_-. He then details the effect of the OPEC oil embargo of 1973 on the oil Statement of Peter Max, vice president of National Economic Research Mr. Max expresses his concern over the tendencies of energy companies Page 1 1-3 8-13 23 23-24 24-26 26 26-27 Mr. Max discusses the interrelationships of different types of fuel. He notes the recent tendency of petroleum refiners to acquire interests in other energy sectors. He suggests that this is both logical and natural in view of their present needs and as future alternative fuel sources. He then expresses a basic quandary: The uncertainty as to whether existing fuel companies will delay the advent of synthetic fuels in order to protect their own interests, as opposed to the capital, resource, and management ability possessed by the larger firms------ 27-29 |