Interfuel Competition: Hearings Before the Subcommittee on Antitrust and Monopoly of the Committee on the Judiciary, United States Senate, Ninety-fourth Congress, First Session, on S. 489 ...
U.S. Government Printing Office, 1976 - 710 páginas
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acquired acquisition activities additional Agreement antitrust barrels bill British Petroleum capital Chairman coal industry Commission Committee Common Stock companies compete competition concentration CONGRESS consumers contract Corp Corporation cost crude oil demand Director domestic economic effect electric energy estimated example existing fact Federal field financing firms fuel future going Government HARDESTY hearings important increase independent indicated interest investment Kerr-McGee leases less LIBRARY major mean merger million mining monopoly natural gas oil and gas oil companies operations percent period petroleum industry present problem production profits Properties proposed question reason reserves respect result Senator ABOUREZK shale shares Sohio sources Special Stock Standard statement Stock subsidiary supply Table tion United uranium utilities
Página 290 - The outer boundaries of a product market are determined by the reasonable interchangeability of use or the cross-elasticity of demand between the product itself and substitutes for it.
Página xi - Any action under this subsection may be brought in the district court of the United States for the district in which the defendant is located or resides or is doing business, and such court shall have jurisdiction to restrain such violation and to require compliance.
Página 446 - In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is long past the ocean is flat again.
Página xi - That whenever a corporation shall violate any of the penal provisions of the antitrust laws, such violation shall be deemed to be also that of the individual directors, officers, or agents of such corporation who shall have authorized, ordered, or done any of the acts constituting in whole or in part such violation...
Página 50 - Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a byproduct of the activities of a casino, the job is likely to be ill-done.
Página 410 - ... identical with our equation (4). See Robert M. Spann, Edward W. Erickson, and Stephen W. Millsaps, "Percentage Depletion and the Price and Output of Domestic Crude Oil," in General Tax Reform, Panel Discussion before the House Committee on Ways and Means, 93 Cong. 1 sess. (1973), Pt. 9, pp. 1318-20. 57. The Policy Study Group of the MIT Energy Laboratory, "Energy Self-Sufficiency: An Economic Evaluation,
Página 441 - Although many economists subscribe to the general-equilibrium notion that market prices can allocate energy resources efficiently over time, others such as FH Hahn have noted that the theory of general economic equilibrium can only be used as an argument against someone . . . who maintains that we need not worry about exhaustible resources because they will always have prices which ensure their "proper" use. ... A quick way of disposing with the claim is to note that an Arrow-Debreu equilibrium must...
Página 489 - March, the spot price increased by 9. 6 percent. The importance of the differences in these figures is that the spot market price of coal is generally used as the basis for price determination on long term contracts. This means that as contracts expire and are renegotiated or new contracts are drawn, the average price paid for coal by utilities will continue to rise. All of this is in addition to the problem of the small utility that purchases coal in the spot market and does not enter into long...
Página xi - Such order shall include a schedule of compliance. (b) The Administrator is authorized to commence a civil action for appropriate relief, including a permanent or temporary injunction, for any violation for which he is authorized to issue a compliance order under subsection (a) of this section.