The Energy Policy and Conservation Act (PL 94-163), signed into law in December 1975, forbade oil companies that produced the equivalent of 1.6 million barrels of oil per day (mbd) worldwide from bidding jointly for outer continental shelf (OCS) leases. The U.S. Department of the Interior adopted regulations to that effect. The Outer Continental Shelf Lands Act Amendment of 1978 (PL 95-372) modified the 1975 law. This amendment gives the Secretary of the Interior the power to conduct periodic reviews of production rates by petroleum producers and to ban from joint bidding any person or firm that produced, during a prior six-month period specified by the secretary, an average of 1.6 mbd.
Council on Wage and Price Stability (CWPS). “Comments on OCS Net Profit Share Leasing.” Before U.S. Department of Energy, March 7, 1980, Docket No. LPD-79-06.
2.
DoughertyElmer L.LohrenzJohn. “A Study of the Aggressive/Conservative Patterns of Bidders and Pre-Sale Evaluation: Federal Oil and Gas Lease Sales,” SPE 6087. Presented at the 52nd Annual SPE-AIME Technical Conference, Denver, October 9-12, 1977.
3.
DoughertyElmer L.LohrenzJohn. “Statistical Analyses of Solo and Joint Bids for Federal Offshore Oil and Gas Leases.” Society of Petroleum Engineers Journal (April1978): 87-95.
4.
EricksonEdward W.SpannRobert M. “An Analysis of the Competitive Effects of Joint Ventures in the Bidding for Tracts in OCS Offshore Lease Sales.” In Integrated Oil Performance and Competition in the Petroleum Industry. Washington, D.C.: Government Printing Office, 1974, pp. 1691-1745.
5.
GaskinsDarius W.VannB. “Joint Buying and the Seller’s Return—The Case of OCS Leases.” In Energy Industry Investigation, part 1, Hearings before the Subcommittee on Monopolies and Commercial Law, House Judiciary Committee, 94th Congress, pp. 210-220.
6.
JonesRussell O.MeadWalter J.SorensonPhillip. Competition and tease Development, 1954-1969. Final Draft Report, USGS Contract No. 1408-0001-16552, December 31, 1979.
7.
JonesRussell O.MeadWalter J.SorensonPhillip. “Free Entry into Crude Oil and Gas Production and Competition in the U.S. Oil Industry.” Natural Resources Journal (October1978): 873-875.
8.
KaufmanG.Statistical Decisions and Related Techniques in Oil and Gas Exploration. Englewood Cliffs, NJ.: Prentice-Hall, 1963
9.
KobrinPaulCanesMichaelMurphyPamela. “Is the Ban on Joint Bidding for OCS Leases by Major Oil Companies Warranted? A Critique of 'Joint Buying and the Seller’s Return—TTie Case of OCS Lease Sales.” Washington, D.C.: American Petroleum Institute, Policy Analysis Department, February 24, 1977.
10.
Lohrenz, John. Aggregated Internal Rates of Return for Federal Offshore Oil and Gas Leases. Report No. 79-8, Applied Research and Analysis Section, USGS, November 27, 1978.
11.
MarkhamJesse W. “The Competitive Effects of Joint Bidding by Oil Companies for Offshore Oil Leases.” In Industrial Organization and Economic Development, edited by MarkhamJ. W.PapanekC. F.. Boston: Houghton Mifflin, 1979
12.
McDonaldStevenThe Leasing of Federal Lands for Fossil Fuel Production. Baltimore: Johns Hopkins Press, 1979
13.
MeadWalter J. “The Competitive Significance of Joint Ventures.” Anti-trust Bulletin (Fall1967): 824.
14.
MeadWalter J. “Joint Ventures—Anti-competitive and pro-competitive Effects.” In Integrated Oil Performance and Competition in the Petroleum Industry. Washington, D.C.: Government Printing Office, 1974, pp. 1005-1014.
15.
PeltoC. R. “The Statistical Structure of Bidding for Oil and Mineral Rights.” JASA66 (1971): 456.
16.
PindyckRobert S.RubinfeldDaniel L.Econometric Models and Economic Forecasts. New York: McGraw-Hill, 1976, pp. 238-256.
17.
RamseyJames. Bidding and Oil Leases: Application of Bidding Theory to Governmental Sales of Oil and Gas Leases in the U.S. and the North Sea. Greenwich, Conn.: JAI Press, forthcoming.
18.
SAD Section Report, No. 77-9. Washington, D.C.: USGS Conservation Division, October 28, 1976.
19.
SAS Institute, Inc.. “The LOGISTIC Procedure.” SAS Technical Report S-110. Cary, N.C.: SAS Circle, September 1, 1979.
20.
SullivanBrianKobrinPaul. “Pro- and Anti-Competitive Theories of Joint Bidding in OCS Lease Sales.” Washington, D.C.: American Petroleum Institute, August1978
21.
WilcoxSusan. “Joint Venture Bidding and Entry in the Market for Offshore Petroleum Leases.” Ph.D. thesis, University of California at Santa Barbara, 1975.
