Conservation: Is It Justified in the Public Interest
Keywords:Energy Law, Petroleum Law
AbstractOne of the criticisms of the conservation program is that conservation does not promote public welfare but is a private price maintenance scheme. This article analyzes the achievements of the conservation program and concludes that although the effect of conservation is to stabilize existing prices, information available with respect to the rate of return on investment of oil companies would indicate that prices of crude oil and petroleum products are not inordinately high. This article also discusses the sources of economic inefficiency in the oil industry and suggests that efforts be taken to make conservation more efficient.
Author(s) retain original copyright in the substantive content of the titled work, subject to the following rights that are granted indefinitely:
- Author(s) grant the Alberta Law Review permission to produce, publish, disseminate, and distribute the titled work in electronic format to online database services, including, but not limited to: LexisNexis, QuickLaw, HeinOnline, and EBSCO;
- Author(s) grant the Alberta Law Review permission to post the titled work on the Alberta Law Review website and/or related websites.
- Author(s) agree that the titled work may be used for educational or instructional purposes and/or in educational or instructional materials. The author(s) acknowledge that the titled work is subject to other such "fair dealing" provisions and applicable legislation.
- Author(s) grant a limited license to those accessing the titled work from an electronic database or an Alberta Law Review website to download the titled work onto their computer and to print a copy for their own personal, non-commercial use, subject to proper attribution.
To use the journal's content elsewhere, permission must be obtained from the author(s) and the Alberta Law Review.