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The Rule Of Capture: Government And The Oil Industry, Joseph P. Tomain

Faculty Articles and Other Publications

The Oil Follies of 1970-1980 by Robert Sherrill, is a broad account of an important decade for energy law and politics. In a capsule review of the book, I noted that it is a journalistic, rather than an academic, look at the theory of capture as a way of talking about government regulation. Because Sherrill was writing for a predominantly lay audience, he did not undertake a systematic and rigorous analysis of the legal regulations concerning the petroleum industry. Nevertheless, his book does provoke a serious question: Is Big Oil bad, and if so, how should government regulate it? This …