How many times has Congress tried to regulate the oil industry?

[Rosa Luxemburg]

Presumably to regulate anything legislation has to be passed. Over the past 100 years what is the history of Congressmen and women bringing bills to the floor regarding oil well/drilling regulations? Did they pass? Which particular Congressmen stand out in trying to regulate it? I know Bernie Sanders is one, but that is more recently.

[KharmaTrain]

1. Look To Teddy Roosevelt

http://en.wikipedia.org/wiki/Standard_Oil#Monopoly_charges.2C_anti-trust_litigation_and_breakup

In 1904, Standard controlled 91% of production and 85% of final sales. Most of its output was kerosene, of which 55% was exported around the world. Standard's plants were about as cost efficient as competitors'. After 1900 it did not try to force competitors out of business by underpricing them.<11> The federal Commissioner of Corporations concluded that beyond question, Standard's dominant position in the refining industry was due "to unfair practices, to abuse of the control of pipe-lines, to railroad discriminations, and to unfair methods of competition."<12> Standard's market share fell gradually to 64% by 1911. It did not try to monopolize the exploration and pumping of oil (its share in 1911 was 11%).

In 1909, the US Department of Justice sued Standard under federal anti-trust law, the Sherman Antitrust Act of 1890, for sustaining a monopoly and restraining interstate commerce by:<13>

That's the only real time I know of the government trying to regulate and reign in big oil...and it didn't last.

[Rosa Luxemburg]

3. Thanks - the Rockefellers were too strong?

[KharmaTrain]

4. John D was a One Man OPEC...

Remember, oil 100 years ago didn't run cars or factories...its biggest use was kerosene for lamps. He bought out all his competitors and was able to corner the market. But unlike todays monopolies, he undercut competition prices unlike today's oil companies that love to speculate and manipulate supply to fatten up their profits.

[piratefish08]

2. an addict will NEVER regulate it's dealer.

period.

[Rosa Luxemburg]

5. as long as voters know the cause of the problem

many don't realize the strength of the oil industry. Taking on Goliath.