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US Federal Trade Commission: transcript 070412

US Federal Trade Commission: transcript 070412

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Published by: ftc on Jan 21, 2008
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112345 FEDERAL TRADE COMMISSION6789 ENERGY MARKETS IN THE 21st CENTURY10 COMPETITION POLICY IN PERSPECTIVE11 SESSION 3121314 THURSDAY, APRIL 12, 200715161718 FEDERAL TRADE COMMISSION19 601 NEW JERSEY AVENUE, N.W.20 WASHINGTON, D.C.2122232425For The Record, Inc.(301) 870-8025 - www.ftrinc.net - (800) 921-5555
21 P R O C E E D I N G S2 - - - - -3 MR. SEESEL: Good morning, everyone, and welcome4 to the third and final day of the Federal Trade5 Commission's Conference on Energy Markets in the 21st6 Century: Competition Policy in Perspective. I'm John7 Seesel, the FTC's Associate General Counsel for Energy,8 and I want to welcome our audience here at the FTC9 Conference Center in Washington as well as everyone10 watching the conference on our webcast.11 We will have two panels this morning that I know12 will discuss issues of great importance to the United13 States and world economies. Our first panel this14 morning will address the current implications of the15 world energy situation for United States energy16 supplies.17 I am especially pleased and honored to introduce18 the moderator for this panel, who also happens to have19 been my former boss here at the FTC, Orson Swindle, a20 Federal Trade Commissioner from 1997 to 2005 and now a21 Senior Policy Advisor and Chair of Security Initiatives22 at The Center for Information Policy Leadership at the23 law firm Hunton & Williams, and I will turn the podium24 over to Orson, and he will introduce the panelists.25 MR. SWINDLE: Thank you very much, John.For The Record, Inc.(301) 870-8025 - www.ftrinc.net - (800) 921-5555
31 Several years ago, John and I were looking at2 one of the oil merger cases -- by the way, I am always3 amazed at how the FTC attracts Baptists, and I grew up4 in a small south Georgia town, and the Baptists go to5 church, and they all sit in the back of the room. None6 will sit in front of the pastors, because they are all7 asking for money, but I am not asking for money today.8 So, if you like, come in a little closer. We also have9 it all on video cam or streaming video or whatever it's10 called.11 I was telling John, we were discussing several12 of the oil mergers, and I said, you know, this is going13 to be a big issue, and when Tim Muris came to be14 Chairman, I said, "Tim, worry about two things, gasoline15 prices and privacy," and they did dominate, and so when16 Chairman Majoras came, sort of the same message, get17 ready for the spring assault on gasoline prices.18 A great interest has been taken in the energy19 field by the Federal Trade Commission, particularly the20 mergers going on and trying to analyze the market to try21 to come up with rational reasons that we can understand22 why certain things happen.23 This is the third day of what appears, from my24 looking at the program -- I regret I was not able to be25 here -- but what appears to have been a very interestingFor The Record, Inc.(301) 870-8025 - www.ftrinc.net - (800) 921-5555

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