Prospects for British Coal: Shorter Comments
Unlike some of the other opinions expressed in this book, I take as my starting point the continued public ownership of the vast majority of the coal industry. I was startled to find that a book with such a title was almost exclusively about the ‘how’ and ‘when’ British Coal (BC) should be transferred to the private sector. I do not intend to contribute to that debate as I believe that the future of BC lies in the public sector.
KeywordsVertical Integration Coal Industry Public Ownership Short Comment Coal Import
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- 1.I actually developed my ideas on the subject to counter the conventional wisdom of the early 1980s that prices would go on rising for a long time or at least start rising in the 1990s. For example see my articles: Stevens, P, 1982, ‘Oil Prices: The End of an Era?’, ODI Review, 2, 1–19Google Scholar
- Stevens, P, 1986, The Price of Oil — The Prospects for the 1990s’, Natural Resources Forum, May, 165–172Google Scholar
- 2.For example, see Warren-Boulton, F R, 1974, Vertical Control with Variable Proportions’, Journal of Political Economy, 94, 135–150.Google Scholar
- More recent theoretical arguments also in favour of enhanced consumer welfare can be found in Greenhut, M L and Ohta, H, 1979, ‘Vertical Integration of Successive Oligopolies’, American Economic Review, 69, 137–141 andGoogle Scholar
- 5.For example, see Stevens, P, 1985, ‘A Survey of Structural Change in the International Oil Industry 1945–84’, in Hawdon, D (ed), The Changing Structure of the World Oil Industry, 18–51, Croom Helm, London.Google Scholar
- 6.For example, see Robinson, C, 1989, ‘Privatising the Energy Industries’, in Veljanovski, C, (ed), Privatisation and Competition, Institute of Economic Affairs, London, 113–128.Google Scholar