Not since the legendary trustbusters cracked John D. Rockefeller's Standard Oil empire in 1911 has the petroleum industry been under so much antimonopolistic fire. Last week the Florida state prosecutor hit the big oil companies with an antitrust suit, while in Los Angeles a federal grand jury opened a massive probe of price fixing and monopolistic marketing. In Washington, the Federal Trade Commission staff turned over to a Senate subcommittee a report charging that gasoline shortages are in part the result of widespread "anticompetitive" practices. In Congress, legislators introduced a number...
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