Boston: Houghton Mifflin, 1925.
First Edition; First Printing. Hardcover. Good with no dust jacket. Item #14029
Library stamps/marks/labels/pocket/slip, some gutter starting, spine sun, light edgewear, light tone, pencil LINING, otherwise light wear. Still solid hardcover.; "With faith in the competitive system as a mechanism for effectively supplying mankind with utilities and services, we have endeavored to insure, by the application of the Sherman Anti-Trust Act, the unrestricted operation of competitive forces within the petroleum industry. In the present inquiry we shall endeavor to test both the efficiency and adequacy of this programme of public guidance and control, or more properly lack of control. In testing the efficacy of our federal policy, we shall inquire into the results of the application of the Sherman Anti-Trust Act in an endeavor to determine the extent to which our attempt to establish competitive conditions in the oil industry has been successful; and in testing the adequacy of our progrmme, we shall be concerned with the question, Is competition in the oil industry a sufficient guarantee of an economic and orderly exploitation of our peroleum resources? ... In view of the waning nature of our petroleum assets and the growing belief that the United States is soon to enter upon a permanent period of declining production, the wasteful methods which ahve characterized our exploitation of the resource assume greater importance and accordingly they have been treated in considerable detail." - Introduction. Uncommon economic analysis of the effects of the breakup of Standard Oil on the efficient extraction of petroleum resources. ; Hart, Schaffner & Marx Prize Essays; Ex-Library; (xi), 323 pages.