[Editor note: Six regulatory personalities related to government intervention in the U.S. oil and gas market (through the mid-1980s) are identified by the author. The reader is invited to add categories or examples of regulators to this list.]
The classical tyrant that has frequented other countries has not been a factor in the U.S. oil and gas experience (or the U.S. economy). [1] The existence of private property and democratic institutions is the major reason; the moderating influence of the industry over intervention is another reason. Huey Long of Louisiana, who as governor and U.S. Senator, left a controversial mark on oil and gas politics, probably is the closest to being an exception.
Instead of tyrants, hundreds of legislators and regulators have shaped oil and gas intervention at all levels of government.…