In the early years of the oil industry, prices moved sharply with the discovery of a new, large oil field or the sudden decline of an existing producer. Producers were like farmers, prey to things happening beyond their control and outside of their knowledge. Efforts to control the price (Standard Oil, Texas Railroad Commission, Achnacarry Agreement, and oil import quotas in the U.S.) enabled the industry, or at least the domestic part of it, to take prices as given. Most famously, when the Shultz Commission considered lifting oil import quotas in 1970, it assumed that prices would tend to decline, based on historical experience.
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Is a policy analyst for TCAP, a coalition of cities and other political subdivisions that purchase electricity in the deregulated market for their own governmental use. Because high energy costs can impact municipal budgets and the ability to fund essential services, TCAP, as part of its mission, actively promotes affordable energy policies. High energy prices also place a burden on local businesses and home consumers.