Abstract

http://ssrn.com/abstract=989827
 


 



Gasoline, Markets, and Regulators


Andrew P. Morriss


University of Alabama School of Law; PERC - Property and Environment Research Center; George Mason University - Mercatus Center


Engage, Vol. 8, No. 3, pp. 4-13, 2003
U Illinois Law & Economics Working Paper No. LE07-015

Abstract:     
Rising gasoline prices have brought energy issues back to the forefront of public policy debates. Gasoline markets today are the result of almost a hundred years of conflicting regulatory policies, which have left them dangerously fragmented. In this article, I analyze that regulatory history, highlighting the unintended consequences of regulation that have pushed the United States into a series of loosely connected regional markets rather than a broad, deep national market. This fragmentation leaves the American economy is vulnerable to natural disasters, terrorist attacks, and foreign dictators in ways that it need not be. It also produces higher prices for consumers and reduced innovation by refiners.

Number of Pages in PDF File: 11

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Date posted: May 31, 2007  

Suggested Citation

Morriss, Andrew P., Gasoline, Markets, and Regulators. Engage, Vol. 8, No. 3, pp. 4-13, 2003; U Illinois Law & Economics Working Paper No. LE07-015. Available at SSRN: http://ssrn.com/abstract=989827

Contact Information

Andrew P. Morriss (Contact Author)
University of Alabama School of Law ( email )
P.O. Box 870382
Tuscaloosa, AL 35487
United States
PERC - Property and Environment Research Center ( email )
2048 Analysis Drive
Suite A
Bozeman, MT 59718
United States
George Mason University - Mercatus Center ( email )
3401 N. Fairfax Dr.
Ste. 450
Arlington, VA 22201-4433
United States
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