Huntsman Calls for Investigation of Oil 'Monopoly'

By: Steve Peoples, Associated Press
By: Steve Peoples, Associated Press

Durham, NH (AP) - Republican presidential candidate Jon Huntsman says federal officials must investigate what he calls a monopoly in the oil industry.

The former Utah governor won't blame specific companies but compares the situation to media company domination in the 1970s that required government intervention. He wants the Federal Trade Commission and Senate Judiciary Committee to launch a speedy review of the oil industry.

Ending the monopoly is among the priorities for an energy policy Huntsman outlined at the University of New Hampshire Tuesday afternoon. He calls for more oil drilling in Alaska and elsewhere, less government regulation and investment in new technologies.

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  • by Steve Location: Not in Marietta on Nov 2, 2011 at 12:29 PM
    This bud's for "Frank" Nov.1,2011@09:16 PM. It's a game of words. 'Monopoly' really means 'public lands.' 'Oil' means 'oil.' Just Google the words 'man-camps in North Dakota.' Now back to the former governor of Utah. The Uinta' Mountain range is west of the Rocky Mountains in Utah. South of the Sawtooth in Idaho, and North of Monument Valley. The 'monopoly' that this man is talking about is the land of the Uintah and Ouray(reservations)in the state of Utah. This vast wilderness spreads for millions of acres, and it is situated just south of the state line of Wyoming, and I-70, west of the state border with Colorado. Beneath the Uinta' are millions of barrels of crude, natural gas too! That is the reason for the 'monopoly thingee.' Thanx.
  • by Anonymous on Nov 2, 2011 at 11:59 AM
    The industry as a whole has some qualities of a monopoly, a natural monopoly. The industry has extremely high fixed costs making entry by a new firm difficult. The industry players are still price takers. Not a monopoly per definition though.
  • by Frank on Nov 1, 2011 at 06:16 PM
    What monopoly? It is oil, it is not an invention, and there are numerous oil companies who drill for it. Should not, maybe, the article be about collusion?. The only monopoly I can see is OPEC.
  • by conservative democrat on Nov 1, 2011 at 06:11 PM
    guess the tea party forgot to include huntsman??
  • by Sara Palin on Nov 1, 2011 at 05:35 PM
    Reload my friend, our time is coming. Christ will return to Earth and conservatism will save America. God Bless.
  • by Anonymous on Nov 1, 2011 at 02:15 PM
    This will surely influence the oil industry to contribute to Perry, Romney or even Bachman, no way will they support him for President if he want to break their monopoly like a Democrat.
  • by talk talk talk quit talking and get to work. Location: la on Nov 1, 2011 at 01:55 PM
    government has destroyed the little man. we need to start faseing oil out and move foward with solar and other energy. if we dont start when oil really runs out we will all starve to death. the country runs around oil.but i guess when gas is $20 a gallon it will last alot longer.
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