A Dozen Facts You Should Know About Antitrust and the U.S. Oil Industry

June 2007

Read the executive summary (PDF)

Read the full report (PDF)

Few industries affect consumers as much as petroleum. Indeed, energy consumption is woven into the fabric of daily life in the United States, and supply shocks can cause price increases that result in very real economic pain. Not surprisingly, these price spikes prompt citizens to look to the government for answers. Those answers can take many forms, including legislation to regulate the conduct of oil companies.

Before considering legislative answers to consumers' concerns, however, we should understand the role of antitrust enforcement in preserving competition in this and other industries, as well as various important – and often misunderstood – characteristics of the oil industry.

Authors

Timothy J. Muris
Former Chairman of the Federal Trade Commission (2001 - 2004)

Richard G. Parker
Former Director of the Federal Trade Commission's Bureau of Competition (1999 - 2001)