OIL & GAS
Ever since El Paso Natural Gas Co. decided in 1957 to merge its nearly 8,000-mile transmission pipeline system with the Pacific Northwest Pipeline Corp.'s 1,500-mile system. Washington has been trying to block the deal. The Justice Department quickly slapped an antitrust suit against El Paso. It charged that the merger would reduce competition in supplying gas to the rich West Coast market, even though, at the time, El Paso had simply acquired 99.8% of Pacific's common stock and was operating the companies separately. El Paso's President Paul Kayser countered by applying to the Federal Power Commission, which is...
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