The Petroleum Industry in Transition: Antitrust and the Decline of Monopoly Control in Oil

@article{Pratt1980ThePI,
  title={The Petroleum Industry in Transition: Antitrust and the Decline of Monopoly Control in Oil},
  author={Joseph A. Pratt},
  journal={The Journal of Economic History},
  year={1980},
  volume={40},
  pages={815-837}
}
The discovery of vast oil fields in Texas after 1901 encouraged competition in an industry previously dominated by Standard Oil of New Jersey. The manner in which the state of Texas enforced its antitrust and corporation laws hastened the growth of several major new oil companies, most notably Gulf Oil and The Texas Company, by constraining the activities of Standard in the new fields. In so doing, these Texas laws shaped the transition from near monopoly to near oligopoly in the oil industry… Expand
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