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Books > Law > Jurisprudence & general issues > Legal history
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Finders Keepers? - How the Law of Capture Shaped the World Oil Industry (Hardcover)
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Finders Keepers? - How the Law of Capture Shaped the World Oil Industry (Hardcover)
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Since the beginnings of the oil industry, production activity has
been governed by the 'law of capture,' dictating that one owns the
oil recovered from one's property even if it has migrated from
under neighboring land. This 'finders keepers' principle has been
excoriated by foreign critics as a 'law of the jungle' and
identified by American commentators as the root cause of the
enormous waste of oil and gas resulting from US production methods
in the first half of the twentieth century. Yet while in almost
every other country the law of capture is today of marginal
significance, it continues in full vigour in the United States,
with potentially wasteful results. In this richly documented
account, Terence Daintith adopts a historical and comparative
perspective to show how legal rules, technical knowledge (or the
lack of it) and political ideas combined to shape attitudes and
behavior in the business of oil production, leading to the original
adoption of the law of capture, its consolidation in the United
States, and its marginalization elsewhere.
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