Energy Markets : Impacts of Mergers & Refinery Outages

This book explores the impacts of mergers and refinery outages in the petroleum industry. Between 2000 and 2007, it has been reported that 1,088 oil industry mergers occurred. Given the potential for price effects, recommendations were made that the Federal Trade Commission (FTC), the agency with the authority to maintain petroleum industry competition, undertake more regular retrospective reviews of past petroleum industry mergers. Additionally, while some unplanned refinery outages, such as those caused by accidents or weather, have had large price effects, it has been found that refinery outages were associated with small increases in gasoline prices.