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The oil industry exemplifies the problems plaguing most industries and businesses in the 1930s. The forces of an unregulated, laissez-faire market glutted the nation with oil, driving prices down to a point where the structure of the oil industry was in peril. In contrast to the laissez-faire ideology, oilmen pressured states and the federal government for regulation and control. It was a decade of tremendous oil strikes, plunging profits and panic, restructuring and regulation: in many ways the decade that created the modern oil industry.
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This section contains 90 words (approx. 1 page at 300 words per page) |
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