Regulation is necessary to manage the oil industry from "summary" of Oil by Sucha Singh Khera
Regulation plays a crucial role in managing the oil industry. The oil industry is a complex and highly competitive sector that requires careful oversight to ensure fair competition and protect the interests of consumers. Without proper regulation, the industry could be prone to monopolistic practices, price fixing, and other anti-competitive behaviors that could harm consumers and the economy as a whole. Regulation helps to ensure that all players in the oil industry operate on a level playing field. By setting clear rules and standards, regulators can prevent unfair practices and promote healthy competition. This not only benefits consumers by keeping prices in check but also encourages innovation and efficiency in the industry. Moreover, regulation is necessary to protect the ...
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