How the Gas Research Institute (GRI) Helped Transform the US Natural Gas Industry

William M. Burnett, Dominic J. Monetta and Barry G. Silverman
Additional contact information
William M. Burnett: Gas Research Institute, 8600 W. Bryn Mawr Avenue, Chicago, Illinois 60631
Dominic J. Monetta: 800 25th Street N.W., Washington, DC 20037
Barry G. Silverman: Institute for Artificial Intelligence, George Washington University, Washington, DC 20052

Interfaces, 1993, vol. 23, issue 1, 44-58

Abstract: In the 1970s, natural gas was thought to be “a fuel with no future.” To change this, the industry formed a research and development (R&D) arm called the Gas Research Institute (GRI). Since 1978, the GRI R&D program has resulted in 132 commercial products, processes, or techniques that have helped turn natural gas into “the fuel of the future.” In doing this, GRI achieved a project success rate of 30 percent—or over twice the US industry-wide average—and a benefit-to-cost ratio of at least seven to one. This success is widely credited to the use of the project appraisal methodology (PAM), a multiattribute, decision analytic scoring function and group advisory process. PAM can be credited with half of the benefits achieved. These benefits are at least $11 billion and as high as $132 billion.

Keywords: industries: petroleum/natural gas; decision analysis applications (search for similar items in EconPapers)
Date: 1993
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://dx.doi.org/10.1287/inte.23.1.44 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:orinte:v:23:y:1993:i:1:p:44-58

Access Statistics for this article

More articles in Interfaces from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().