Refers to the condition in which a company produces raw material, transports it, refines or processes it, and markets the product all as one integrated operation. Specifically, an oil company is said to be vertically integrated when it finds and produces oil and gas; transports it in its own pipelines; refines it; and markets its products under its brand name, According to the critics of the industry, this is not in the country's best interest. See Horizontal Integration.
