The Connally Hot Oil Act of 1935 was enacted in the wake of the Supreme Court's decision to strike down Section 9 (c) of the National Industrial Recovery Act (NIRA) in Panama Refining Co. v. Ryan. The act gave the president authority "to prohibit the transportation in interstate and foreign commerce of petroleum ... produced or withdrawn from storage in excess of the amount permitted ... by any State law."[1] The act was named after Senator Tom Connally.
It revived the provisions of Section 9 (c) of the NIRA and added procedural safeguards, which, the Supreme Court argued, were constitutional.[2] Ostensibly enacted to protect the industry from "contraband oil", it was mainly a way of cartelizing the industry to stabilize falling prices. The new law reestablished the NIRA's original provision that violators would receive a maximum jail sentence of six months[1][3] but also increased the maximum fine penalty from $1,000-which was enacted in the NIRA-[1] to $2,000.[3]
Though the legislation was intended to expire on June 16, 1937, it was maintained afterwards as a permanent law.[3] There was some debate as to the law's effects on the transport of other fuels such as coal and timber, and many independent oil producers vehemently opposed the government regulations.[3]
In 1937, four federal courts upheld the Connally Act, which was later administered by the Federal Petroleum Board, also created by the law, within the Department of the Interior.[3][4]
^ abc"Our Documents - Transcript of National Industrial Recovery Act (1933)". Our Documents. Retrieved February 13, 2014.
^"Panama Refining Co. v. Ryan - 293 U.S. 388 (1935) :: Justia US Supreme Court Center". Justia. Retrieved February 13, 2014.
^ abcde"Connally Hot Oil Act of 1935". The Handbook of Texas Online. Texas State Historical Association. Retrieved February 13, 2014.
^. vLex. Archived from the original on December 4, 2013. Retrieved February 13, 2014.
Armentano, Dominick T. (1990). Antitrust and Monopoly: Anatomy of a Policy Failure. Oakland: The Independent Institute. ISBN0-945999-62-3.[page needed]
connally, 1935, enacted, wake, supreme, court, decision, strike, down, section, national, industrial, recovery, nira, panama, refining, ryan, gave, president, authority, prohibit, transportation, interstate, foreign, commerce, petroleum, produced, withdrawn, f. The Connally Hot Oil Act of 1935 was enacted in the wake of the Supreme Court s decision to strike down Section 9 c of the National Industrial Recovery Act NIRA in Panama Refining Co v Ryan The act gave the president authority to prohibit the transportation in interstate and foreign commerce of petroleum produced or withdrawn from storage in excess of the amount permitted by any State law 1 The act was named after Senator Tom Connally It revived the provisions of Section 9 c of the NIRA and added procedural safeguards which the Supreme Court argued were constitutional 2 Ostensibly enacted to protect the industry from contraband oil it was mainly a way of cartelizing the industry to stabilize falling prices The new law reestablished the NIRA s original provision that violators would receive a maximum jail sentence of six months 1 3 but also increased the maximum fine penalty from 1 000 which was enacted in the NIRA 1 to 2 000 3 Though the legislation was intended to expire on June 16 1937 it was maintained afterwards as a permanent law 3 There was some debate as to the law s effects on the transport of other fuels such as coal and timber and many independent oil producers vehemently opposed the government regulations 3 In 1937 four federal courts upheld the Connally Act which was later administered by the Federal Petroleum Board also created by the law within the Department of the Interior 3 4 See also EditNew Deal CorporatismReferences Edit a b c Our Documents Transcript of National Industrial Recovery Act 1933 Our Documents Retrieved February 13 2014 Panama Refining Co v Ryan 293 U S 388 1935 Justia US Supreme Court Center Justia Retrieved February 13 2014 a b c d e Connally Hot Oil Act of 1935 The Handbook of Texas Online Texas State Historical Association Retrieved February 13 2014 Kilgore Nat Bank Et Al v Federal Petroleum Board 209 F 2d 557 5th Cir 1954 Federal Circuits Docket Number 14679 March 28 2008 January 15 1954 vLex vLex Archived from the original on December 4 2013 Retrieved February 13 2014 Armentano Dominick T 1990 Antitrust and Monopoly Anatomy of a Policy Failure Oakland The Independent Institute ISBN 0 945999 62 3 page needed External links Edit Connally Hot Oil Act of 1935 Handbook of Texas Business Again Hot Oil Time April 4 1938 This United States federal legislation article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Connally Hot Oil Act of 1935 amp oldid 1045009458, wikipedia, wiki, book, books, library,
