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The Political Economy of PipelinesA Century of Comparative Institutional Development$
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Jeff D. Makholm

Print publication date: 2012

Print ISBN-13: 9780226502106

Published to Chicago Scholarship Online: March 2013

DOI: 10.7208/chicago/9780226502120.001.0001

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Transacting with Common Carriage: The Oil Pipeline Regulations of 1906

Transacting with Common Carriage: The Oil Pipeline Regulations of 1906

(p.97) Chapter Six Transacting with Common Carriage: The Oil Pipeline Regulations of 1906
The Political Economy of Pipelines
University of Chicago Press

This chapter provides a discussion on the oil pipeline regulations of 1906. The Interstate Commerce Commission was in charge of regulating pipelines. From 1906 on, oil pipelines were regulated as common carriers that were obligated to provide transport service to all comers. The result of the 1906 Hepburn Amendment, coupled with the antitrust breakup of Standard Oil in 1911, was the rapid creation of a number of independent oil pipeline companies. Joint ventures continued to be a popular way to make predictable shipments among integrated oil pipelines. Over the century since the Hepburn Amendment, the oil pipeline industry has shown an almost complete absence of effective shipper pressure groups. After the consent decree, the oil pipeline industry continued to develop with a high degree of vertical integration and joint ventures.

Keywords:   oil pipeline regulations, Interstate Commerce Commission, 1906 Hepburn Amendment, Standard Oil, joint ventures, oil pipeline industry, vertical integration

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