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Petroleum Dismemberment, Stark Ritchie
Petroleum Dismemberment, Stark Ritchie
Vanderbilt Law Review
This article endeavors to explain the rationale of vertical integration, to discuss some of the arguments surrounding divestiture,and to describe the consequences of divestiture if S. 2387 becomes law. The following discussion shows that careful examination of the structure and performance of the petroleum industry fails to yield any conclusive evidence of inordinate monopoly power. On the contrary, the economic indicia strongly suggest that at the very least the industry is "workably competitive" at all stages.' Further, the contention that divestiture would strengthen this nation's interests vis-a-vis the Organization of Petroleum Exporting Companies nations has been dispelled. Thus the grounds …
The Transition From Private To Public Control In The Venezuelan Petroleum Industry, Felix P. Rossi-Guerrero
The Transition From Private To Public Control In The Venezuelan Petroleum Industry, Felix P. Rossi-Guerrero
Vanderbilt Journal of Transnational Law
Oil was discovered in Venezuela in 1914. The Zumaque No. 1 well on eastern Lake Maracaibo was Venezuela's first commercial discovery. The beginning of the First World War, however, delayed exploration and it was not until 1922 that a well being drilled in La Rosa, in the state of Zulia, blew out of control sending oil 200 feet into the air and spreading oil all around at a rate of some 100,000 barrels daily for nine days. The world took notice of Los Barrosos No. 2, and the Bolivar Coastal Field--one of the three or four largest oil fields in …