Chapter

Transacting with Common Carriage: The Oil Pipeline Regulations of 1906

in The Political Economy of Pipelines

Published by University of Chicago Press

Published in print April 2012 | ISBN: 9780226502106
Published online March 2013 | e-ISBN: 9780226502120 | DOI: http://dx.doi.org/10.7208/chicago/9780226502120.003.0006
Transacting with Common Carriage: The Oil Pipeline Regulations of 1906

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This chapter provides a discussion on the oil pipeline regulations of 1906. The Interstate Commerce Commission was in charge of regulating pipelines. From 1906 on, oil pipelines were regulated as common carriers that were obligated to provide transport service to all comers. The result of the 1906 Hepburn Amendment, coupled with the antitrust breakup of Standard Oil in 1911, was the rapid creation of a number of independent oil pipeline companies. Joint ventures continued to be a popular way to make predictable shipments among integrated oil pipelines. Over the century since the Hepburn Amendment, the oil pipeline industry has shown an almost complete absence of effective shipper pressure groups. After the consent decree, the oil pipeline industry continued to develop with a high degree of vertical integration and joint ventures.

Keywords: oil pipeline regulations; Interstate Commerce Commission; 1906 Hepburn Amendment; Standard Oil; joint ventures; oil pipeline industry; vertical integration

Chapter.  6615 words.  Illustrated.

Subjects: Political Economy

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