The paper "Oil Industry Regulations by the US Government" is a perfect example of a literature review on macro and microeconomics. There have been a number of cases that have resulted in the setting up of regulations and laws to govern natural gas and oil exploration on the offshore land of the Gulf of Mexico. These laws were put in place by the United States of America’ s government in lieu to resolve some of the problems experienced in the exploration and production of oil as well as natural gas.
The setting up of regulations has taken a number of years and processes which would take a good period of time to discuss them all (Northrup, 2003). As a result, this article will only focus on the oil industry regulations set up by the US government in the most recent years to improve productivity in the industry. However, the earliest disputes were more inclined on the ownership of waters at the cost which had oil exploration potential. This went through a number of stages to resolve who had the right to own the land in which a certain percentage was given to the right and governance of the US government. Literature ReviewFrom research done on peer-reviewed literature, legislation on the oil industry encompassed both land and environmental issues.
The most recent policies to be formed were in the year 2005. It is therefore important that these regulations are looked at systematically to offer a clear view of what entailed the regulations and how the industry was affected (Bantekas, Paterson & Suleimanov, 2004). The Energy Policy Act of 2005This policy was signed by President George W.
Bush in August 2005. This was the first inclusive state energy preparing for the United States of America for the previous 13 years. It was an amalgamation of most regulations previously done and in cases which they proved not to survive the test of time. This policy has a wide range of impacts on oil exploration in the offshore regions of the Mexican Gulf. This Act mainly affected the Mineral Management Service (MMS) and the Outer Continental Shelf (OCS).
Northrup, C. (2003). The American economy: a historical encyclopedia. California: ABC-CLIO.
Dautrich, K., et al. (2009). American Government: Historical, Popular, and Global Perspectives - Texas Edition. New York: Cengage Learning.
Hoffman, B. (2006). Art and cultural heritage: law, policy, and practice. Cambridge: Cambridge University Press.
Miller, C. (2010). Cities and Nature in the American West. Nevada: University of Nevada Press.
Congress (US) (Ed.) (2010). Congressional Record, V. 153, Pt. 1, January 4, 2007 to January 17, 2007. Illinois: Government Printing Office.
Public Affairs Information Service & H.W. Wilson Company. (1983). Bulletin of the Public Affairs Information Service, Volume 69. Illinois: Public Affairs Information Service.
Geology Survey (US). (2009). Minerals Yearbook, 2006, V. 3, Area Reports, International, Latin America and Canada. New York: Government Printing Office.
Olien, R. et al. (2000). Oil and ideology: the cultural creation of the American petroleum industry. Chicago: UNC Press Books.
Bantekas, I., Paterson, J. & Suleimanov, M. (2004). Oil and gas law in Kazakhstan: national and international perspectives. Kluwer: Kluwer Law International.
Lowrie, W. & United States Congress. (2011). American state papers / 1: documents, legislative and executive, of the Congress of the United States. From the 1st session of the 1st to the 3rd session of the 13th congress, inclusive: commencing March 3, 1789, and ending March 3, 1815, Volume 2. New York: Gales and Seaton.
Hirsh, R. (2003). Technology and Transformation in the American Electric Utility Industry. Cambridge: Cambridge University Press.
Garte, S. (2008). Where we stand: a surprising look at the real state of our planet. New York: AMACOM Div American Mgmt Assn.
Clark, M. et al. (2001). Dyeing for a living: a history of the American Association of Textile Chemists and Colorists: 1921-1996. New York: AATCC.
Benjamin, W. (1982). Directory of industry data sources: the United States of America and Canada. California: Harfax.
Melosi, M. & Pratt, J. (2007). Energy metropolis: an environmental history of Houston and the Gulf Coast. Pittsburgh: University of Pittsburgh Pre.