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The Rise of OPEC w/ Giuliano Garavini

The Dig

CHAPTER

The Texas Railroad Commission's Response to the Depression Era Oil Gulp

The Texas Railroad Commission's response to this depression era oil glut was a level of state regulation in terms of controlling production that the US and UK did not want to export abroad. If countries outside the United States were able to control production, they would have an enormous leverage towards these oil companies. Through, basically through controlling production, you also control the profits. So controlling production is a key part of the issue.

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