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Define economic rents from oil production and the economic

1) Define economic rents from oil production and the economic impacts from taxes On them.

2) How did Rockefeller work with the railroads to take over the petroleum refinery Industry in the US during the 1870s?

3) What are the advantages of the breaking up of Standard Oil? What were some Arguments for not taking this antitrust action?

4) Describe some of the investments made on the basis of cheap oil that complicates the transition away from a hydrocarbon based society.

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