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Oil Deregulation Law Essay Sample - Bla Bla Writing

In mixed economies, the role of the state was more limited, but in certain sectors the state set prices, owned businesses, limited private enterprise, restricted investment by foreigners and restricted international trade—alongside an active, growing private sector. India is a good example of a mixed economy that is currently deregulating a large portion of its economy. Deregulation in India has involved reforming the industrial licensing system that made it difficult to establish private enterprises, opening areas that were once closed to the private sector, removing limits on foreign ownership of Indian assets, and lowering barriers to international trade.

Expected Results The results of airline deregulation speak for themselves.

On this account, the fundamental choice is no longer the ideological one we were indoctrinated to believe — between free markets and controlled economies — but rather a continuous choice between kinds of regulation and how they distribute wealth in society. There is, in the end, no “realistic alternative,” nor any “utopian project” that can avoid the pervasive regulatory mechanisms that are necessary to organize a complex late-modern economy — and that’s the point. The vast and distributive regulatory framework will neither disappear with deregulation, nor with the withering of a socialist state. What is required is constant vigilance of all the micro and macro rules that permeate our markets, our contracts, our tax codes, our banking regulations, our property laws — in sum, all the ordinary, often mundane, but frequently invisible forms of laws and regulations that are required to organize and maintain a colossal economy in the 21st-century and that constantly distribute wealth and resources.

Oil Deregulation in the Philippines Essay Examples

But unexpectedly, the outcome of the deregulation has not been encouraging (Lawal, 2014).

During that period the electric utilities went from being highly regulated to being deregulated following the trend in successful deregulation of many industries such as airline and telecommunication industries....

While the history of U.S. financial deregulation began in 1973, the period 1982–90 saw the disintegration of the savings and loan insurance fund and a sizable portion of the thrift industry and regulator-sponsored deregulation that provided increased earning opportunities, and risk, for surviving thrifts and commercial banks.

Woningprotect - Oil Deregulation Law Essay

This was an era of deregulation in which Nigerian paid market-determined prices for products.

The erosion or abandonment of formal regulations by legislative means is known as deregulation. Formerly regulated industries—transportation, electric utilities, gas utilities, telecommunications, and financial markets—share certain characteristics that made them candidates for regulation, and in transitioning to deregulation they share a common set of problems.

One way to understand the emerging disobedience is to see it as a refusal to engage these sorts of worn-out ideologies rooted in the Cold War. The key point here is that the Cold War’s ideological divide — with the Chicago Boys at one end and the Maoists at the other — merely served as a weapon in this country for the financial and political elite: the ploy, in the United States, was to demonize the chimera of a controlled economy (that of the former Soviet Union or China, for example) in order to prop up the illusion of a free market and to legitimize the fantasy of less regulation — of what was euphemistically called “deregulation.” By reinvigorating the myth of free markets, the financial and political architects of our economy over the past three plus decades — both Republicans and Democrats — were able to disguise massive redistribution toward the richest by claiming they were simply “deregulating” when all along they were actually reregulating to the benefit of their largest campaign donors.

(2013) “Deregulation and privatization in Nigeria: The advantages and disadvantages so far”.
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FREE Oil Deregulation Law Essay - Example Essays

Before 1978, both the maximum and minimum fares for air travel were set by the Civil Aeronautics Board (CAB). The CAB began to loosen its regulations in the mid-1970s. In 1978, Congress passed legislation to abolish the CAB within six years, open up the industry to new competitors, and eliminate government-set fares. Under regulation, intercity airline routes were served by one, two, or three carriers, all charging the same fare; after deregulation both the number of carriers and their prices became highly competitive, including such practices as restricted discounts, promotional fares, reduced off-peak fares, and premium services.


Federal regulation of interstate trucking began in 1935. Throughout the 1960s and early 1970s, economic research showed that trucking rates would be far lower in a competitive marketplace. In response to the growing opposition to interstate regulation, Congress passed legislation in 1980 that virtually deregulated the trucking industry. Deregulation meant shipping rates could be negotiated by individual shippers and carriers, with prices and services tailored to the shippers’ needs. While big shippers were in the strongest bargaining position, smaller shippers often needed to consolidate shipments to get a good rate.

Benefits Of Deregulation Of Downstream Oil And Gas Economics Essay

The collapse of the merged Penn Central rail line in the mid-1970s prompted a major push to deregulate and transform the railroad sector. Congress passed a bill in 1976 that allowed railroads to merge and to abandon unprofitable routes; in 1980, Congress deregulated rates for some commodities. Gradually, rate deregulation extended to about 90 percent of rail traffic. Rail deregulation led to improved service, improving delivery time by 30 percent.

Deregulation Of Downstream Oil And Gas Industry Business Essay

The semantic games — the talk of deregulation rather than reregulation — would have been entertaining had it not been for their devastating effects. As the sociologist Douglas Massey minutely documents in “,” after decades of improvement, the income gap between the richest and poorest in this country has dramatically widened since the 1970s, resulting in what social scientists now refer to as U-curve of increasing inequality. Recent reports from the Census Bureau confirm this, with that “the number of Americans living below the official poverty line, 46.2 million people, was the highest number in the 52 years the bureau has been publishing figures on it.” Today, 27 percent of African-Americans and 26 percent of Hispanics in this country — more than 1 in 4 — live in poverty; and 1 in 9 African-American men between the ages of 20 and 34 are incarcerated.

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