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Explain what part of it regulatory process could have been seen as monopolistic; much like what OPEC did in the 1970s.

At one time the Railroad Commission of Texas (RRC) was the board of political power within the State. By reviewing it name, an outsider would determine that the Board would only regulate the railroads. This would be far from the truth. As a compliment to the Board’s prestige, OPEC (Organization of Petroleum Exporting Countries) used the Board organization as an example when they formed and dominated the oil prices on the International level. Review the Board’s Web site, http://www.rrc.state.tx.us/ , discuss the Board’s authority and it history. Explain what part of it regulatory process could have been seen as monopolistic; much like what OPEC did in the 1970s. Determine why the Board is not as powerful as it once was.

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