Integration and Competition in the Petroleum Industry

Integration and Competition in the Petroleum Industry

Integration and Competition in the Petroleum Industry

Integration and Competition in the Petroleum Industry

Excerpt

This is a long book, but it deals with an important, complicated, and rapidly changing industry, no aspect of which proved alien to the assigned topic. One cannot assess the organization and performance of an industry like petroleum with a few deftly selected statistics, nicely designed experiments, or cogently phrased paragraphs. This study has been long in the making, longer than might have been required had we not chosen to collaborate so completely both in research and in writing over the entire scope of the project. The qualitative nature of much of the analysis recommended such a course; and, quite possibly, had even more summers been devoted to the job the result would have been a longer, not a shorter, document.

More people than can be enumerated have helped out along the way; to all of them our sincere thanks. More specifically, we are indebted to the American Petroleum Institute and the Yale University Press for making the study possible, to the reader assigned by the Press, who so effectively criticized the completed manuscript both for substance and form, to the Editorial Board for its invaluable suggestions, and especially to Ray B. Westerfield, for support, encouragement, and gentle prodding. We thank the many members of the industry who spoke to us freely and patiently, and especially Albert J. McIntosh for guiding us through the maze of its statistics -- copious, but seldom in precisely the form needed. We thank Boni, Watkins, Jason, and Company for help with some statistical compilations, and John G. McLean and Robert W. Haigh for graciously letting us study their monumental work while it was still in manuscript. Separate and special thanks are owed Joel Dirlam, who spent one entire summer helping to survey the voluminous literature on oil. We gratefully acknowledge the assistance of our graduate students at various stages of the manuscript -- Peter Max, Wolfgang Schoellkopf, Richard Bower. And, for miscellaneous important reasons, not least their admirable forebearance through the long process, our thanks to Marian Holmes and Rachel Kahn.

M. G. DE C. A. E. K.

Ithaca, N. Y. September, 1959 . . .

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