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1 Competitive Implications of Oil Company Involvement in Alternative Fuels 1 (1978)

handle is hein.usfed/cpviocy0001 and id is 1 raw text is: FTC Pf4s A BUREAC OF COMPETITION WORKING PAPER COMPETITIVE IMPLICATIONS OF OIL COMPANY INVOLVEMENT IN ALTERNATIVE FUELS I. INTRODUCTION An increasing share of the nation's alternative fuel reserves is finding its way into the hands of the leading oil companies. Some of these alternative fuels -- coal and uranium -- already compete with each other for certain end uses. Others, such as oil shale, have not yet been commercially developed, but in the long run are likely to become substitutes for each other and for oil in several critical energy markets. It is this long-run potential for interfuel competition which makes the aggressive move by oil companies into alternative fuels a matter of serious concern. From the standpoint of long-range competition policy, the emergence of the diversified energy company represents a disturbing trend toward horizontal integration in the overall energy market. The transformation of oil companies into energy companies is a fairly recent phenomenon. Beginning in the mid-sixties, oil companies increasingly began expanding into reserve and production positions in alternative fuels, including coal, uranium, oil shale, tar sands, solar energy and geothermal resources. In the coal and uranium markets, oil company entry has been particularly aggressive. Today four of the top ten coal producers are oil company subsidiaries; ranking second and fourth, respectively

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