Environment, Transportation, and Housing by Alex C. Michalos (auth.)

By Alex C. Michalos (auth.)

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I doubt that anyone knows exactly how much of the discrepancy between these figures is a result of "creative accounting" and "tax avoidance", and how much is a result of honest differences of opinion about very complicated matters. In principle, the elected officials of democratic nations can design and insist upon clean accounting systems, and citizens of such nations can insist upon responsible behaviour from their representatives. But so far we haven't managed to do such things. S. S. Federal Trade Commission reminded us that, like aspirin and airlines, all crude oil is not the same.

In the last six years of the period the Canadian ratio was above unity, but for all other years both countries operated with a crude petroleum deficit. By 1974, the Canadian ratio increased and the American ratio decreased 16% over 1964. t 86 Tables 15 and 16 provide an overview of the ownership of North American crude oil production in 1970. The 20 largest American crude oil producers accounted for 60% of all the crude oil produced in the United States (Tl5). In Canada the top 21 producers accounted for 71 % of the total Canadian product (Tl6).

These examples suggest that in the energy sector many other factors besides the relatively low concentration ratios should be considered in any review of possible anticompetitive structure or behavior. Although many petroleum companies are known to be acquiring coal and uranium reserves, this study provides little inforrruztion on reserves acquisitions because the necessary data are not available from published sources. If petroleum companies are acquiring significant amounts of coal and uranium reserves, then in the future they may control a rising fraction of coal and uranium production.

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