The International Petroleum Cartel

Front Cover
U.S. Government Printing Office, 1952 - Petroleum industry and trade - 378 pages

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Page 217 - ... approved October fifteenth, nineteen hundred and fourteen, shall be construed to forbid the acquisition or ownership by any corporation of the whole or any part of the stock or other capital of any corporation organized solely for the purpose of engaging in export trade, and actually engaged solely in such export trade...
Page 126 - Ltd., on a 50-50 basis to operate the concession. At the insistence of Anglo-Persian, the contract establishing the operating company contained a provision that neither party would use oil from Kuwait to upset or injure the other's "trade or marketing position directly or indirectly at any time or place...
Page 119 - Government; and he further binds himself, his heirs and successors not to cede, sell, lease, mortgage, or give for occupation or for any other purpose any portion of his territory to the Government or subjects of any other Power without the previous consent of Her Majesty's Government for these purposes.
Page 45 - II describe the process by which these oil reserves were brought under the control of the seven international oil companies. This control over foreign reserves has been achieved through the use of two techniques, joint ownership and long-term contracts for the sale of crude oil. In the Middle East, the interests of the seven international oil companies have been woven together by joint ownerships of subsidiary companies, each holding interests in one or more of these joint enterprises.
Page 217 - That such association does not, either in the United States or elsewhere, enter into any agreement, understanding or conspiracy, or do any act which artificially or intentionally enhances or depresses prices within the United States of commodities of the class exported by such association or which substantially lessens competition within the United States or otherwise restrains trade therein.
Page 217 - An Act to protect trade and commerce against unlawful restraints and monopolies," approved July second, eighteen hundred and ninety, shall be construed as declaring to be illegal an association entered into for the sole purpose of engaging in export trade and actually engaged solely in such export trade, or an agreement made...
Page xiii - To investigate, from time to time, trade conditions in and with foreign countries where associations, combinations, or practices of manufacturers, merchants, or traders, or other conditions, may affect the foreign trade of the United States, and to report to Congress thereon, with such recommendations as it deems advisable.
Page 96 - ... nor will any of its Associated Companies either personally or through the intermediary of any person firm company or corporation seek for or obtain or be interested directly or indirectly in any such oil concession or be interested directly or indirectly in the production of oil within the defined area or in the purchase of any such oil otherwise than through the Turkish Company or an Operating Company under the Turkish Company.
Page 262 - Agreement would be decided by a central "as is" committee which would also provide rules for meeting problems arising as a result of new factors or changing conditions in the industry. Thus machinery such as had not previously existed was provided for coordinating world supply agreements among the major international companies with local marketing agreements to which outsiders were also to be admitted. During the next year and a half, comparatively little was accomplished in further cartelization...
Page 102 - During the period between 1922, when the "open-door" policy was first advanced, and 1927, when it was in the process of being discarded, radical changes took place in the world oil situation. The fears of an oil shortage which were [so] widespread in 1922 were drowned in a surplus of oil. Instead of competing for the development of oil resources, the international companies turned their attention to limiting output and allocating world oil markets. With the admission in 1928 of the American group...