The Lincoln Plawg - the blog with footnotes
Friday, February 25, 2005
Another Texas vein to mine
Another institution whose existence you couldn't guess at in a hundred years: the Texas Railroad Commission.
(Well, you might guess that there was a state regulator for railroads. But not that its most important job (once) was regulating the oil industry.)
Nor had I heard of the Connally Hot Oil Act of 1935 .
Essentially, the problem in Texas in the early 1930s was overproduction; the RRC allocated production limits amongst the industry, and the Connally Act enforced the RRC's production controls across the US.
I'd hypothesise that Commissioners became as rich as Croesus with presents from the industry. I've seen no facts to support that, though. Clearly, someone will have followed the money - and perhaps no lettuce went astray.
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