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<p>The full cost of the failing energy policies of the United States can be measured by out vulnerability to the dictates of foreign oil-producing countries. U.S. government policy has traditionally been aligned in support of independent oil refiners against the dominance of refining by the major oil companies, with the intent of ensuring competition. At the same time, petroleum policies of the last quarter-century have been justified on grounds of the need for national energy security. Those combined national security and antimonopoly policies have resulted in unacceptably high costs and have only undermined the government’s attempts to achieve any kind of long-term energy goals.</p> <p>Beginning with a thorough economic history and analysis of the refining industry’s growth and structure, E. Anthony Copp shows how government import and domestic pricing policy has tended to subsidize the less economic sizes of independent refiners while reinforcing the market power of major refiners, thus failing to provide adequate additions to domestic petroleum proved reserves or to encourage more efficiency in refining capacity. The weakness of natural gas policies (which government has consis

Author

Emmanuel Anthony Copp

Publisher

Texas A and M University Press

Published

1976

Language

EN

ISBN

9780890960141

Subjects

Economics, Management, Business