Efficiency and Equity in the Transition to a New Natural Gas Market

Thomas C. Gorak and Dennis J. Ray

Land Economics, 1995, vol. 71, issue 3, 368-385

Abstract: Through a series of regulatory decisions and legislative actions, the natural gas industry has undergone a radical transformation. Wellhead prices have been deregulated; interstate pipelines have been recast from merchants of bundled sales and transportation service to sellers of transportation and storage capacity; and supply procurement responsibilities have been shifted downstream to local distribution companies and end users. The transformation was made to foster efficiency improvements from wellhead to burner-tip. This paper reviews the policies that fostered the transition, examines the likely outcomes of those policies, and questions whether the transition has resulted in net benefits to all marketplace segments.

Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:71:y:1995:i:3:p:368-385

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