This year, Baker Botts celebrates its 185th anniversary. The lawyers who started the firm began their practices in the wake of the Alamo and the 1836 Texas Revolution. They came together and formed Baker Botts in the aftermath of the Civil War, when a nascent Texas economy was emerging with new banks, canals, and railroads. By the times of the Great War and World War II, our expertise in energy and logistics was in great demand – so much so that the United States declared Baker Botts an "essential activity" of the war effort in 1945. So, our expertise in the legal issues our clients face during wartime is informed by three centuries of such events.
A few years ago, I was asked to review the shelves of our library to identify volumes that should be saved for historical purposes. One section of the shelves caught my eye – the firm's "War Law Service" volumes from Commerce Clearing House. One set is from 1917-1919, and the other, largest set is from 1941- 1945. These volumes detail the legal issues that arise when a country is mobilized for war, including new statutes, regulation, price control, trade laws, and taxes.
The current war with Iran is evolving and it is unclear how long it will last and ultimately end. Yet, it has and will cause its own, unique set of disruptions and events that will impact our clients and lead to new applications of old legal questions (and maybe some new ones). These may include price spikes, supply chain disruption and force majeure issues, cybersecurity issues, tariffs and other taxes, trade restrictions, new statutes and regulations, immigration restrictions and environmental impacts. Energy policy in this country and around the world may also be impacted.
In this series, we will discuss the emerging legal issues that are arising from the Iran war. We hope our thoughts will be of help, or at least interest, to our clients.
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