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Book Review
| Broken Trusts: The Texas Attorney General versus the Oil Industry, 1889–1909. By Jonathan W. Singer. (College Station: Texas A & M University Press, 2002. 344 pp. Illustrations, glossary, appendix, notes, bibliography, index. $49.95.)
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Broken Trusts promises a definitive study of the formative period of antitrust enforcement against the oil industry in Texas. While complementing earlier histories of the oil industry, government-business relations, and state antitrust efforts, Singer directly challenges the assertion that Texas antitrust enforcement against the oil industry in the late-nineteenth and early-twentieth centuries was always politically motivated and largely ineffectual. Texas authorities, Singer argues, were often sincerely committed to antitrust enforcement and its goals and succeeded in forcing oil companies to comply with the antitrust laws when making business decisions. |
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By the twentieth century, the Standard Oil Company, with its notorious anti-competitive practices, was the embodiment of evil in American business. Just as giant oil discoveries were indicating that petroleum would become the state's most important industry, the Texas legislature and attorney general's department sought to control the abuses of giant corporations, and they cast a suspicious eye at firms associated with Standard Oil Company. One such firm was the Waters-Pierce Oil Company. |
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