Editorial: Governments and energy-2 - The fall of restraint

Stiff resistance by the European Commission against a $44 billion merger of two US companies should trouble the oil and gas industry on several levels. One huge concern should be the ready exercise of veto power by an international body that doesn't represent the affected companies' home country. Activism such as this in any industry represents government misguidedness of a type now leading the US back in the direction of energy price controls (OGJ, June 25, 2001, p. 19).The EC acted after US and Canadian antitrust authorities approved the merger of General Electric Co. and Honeywell International Inc. At this writing, it had produced a draft decision to block the all-stock deal, ...

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