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Crude PoliticsThe California Oil Market, 1900-1940$
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Paul Sabin and Philip Rousseau

Print publication date: 2004

Print ISBN-13: 9780520241985

Published to California Scholarship Online: March 2012

DOI: 10.1525/california/9780520241985.001.0001

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introduction: Structuring the Oil Market

introduction: Structuring the Oil Market

Chapter:
(p.1) INTRODUCTION: Structuring the Oil Market
Source:
Crude Politics
Author(s):

Paul Sabin

Publisher:
University of California Press
DOI:10.1525/california/9780520241985.003.0001

California provides a case history for the impact of oil on individual states and a microcosm of its penetration in the United States as a whole. In studying the volatile politics of the oil economy, this book carries forward into the current century the research of historians who wrote about nineteenth-century economic development, federalism, and infrastructure. It follows James Willard Hurst's long-overgrown trail into the thicket of public land policy, business regulation, transportation development, and public finance. It also explores how the California oil market changed over time in response to the interplay of political, legal, and economic developments. The chapter addresses specifically property rights, federalism, regulatory rules, and tax policies and investment. These show the extensive and ongoing role the government played in the oil economy. The chapter then investigates the political dimensions of environmental change. The utility of oil contributed enormously to its rapid adoption and consumption.

Keywords:   oil economy, oil market, California, volatile politics, property rights, federalism, regulatory rules, tax policies, investment, environmental change

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