Connally Hot Oil Act of 1935
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The Connally Hot Oil Act of 1935 was enacted in the wake of the Supreme Court's decision to strike down the National Industrial Recovery Act (NIRA), the keystone piece of original New Deal legislation. Specifically, it revived the portion of the original legislation that regulated the flow of oil between states. Ostensibly enacted to protect the industry from "contraband oil", it was mainly a way of cartelizing the industry to stabilize falling prices.
[edit] See also
[edit] References
- Armentano, Dominick T. (1990). Antitrust and Monopoly: Anatomy of a Policy Failure. Oakland: The Independent Institute. ISBN 0-945999-62-3.
[edit] External links
- Connally Hot Oil Act of 1935 from Handbook of Texas online
- Again, Hot Oil from Time Magazine, 1938
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