The Emerging New Order in Natural Gas Markets versus Regulation

Subjects:

• Business » Business & Public Policy
• Political Science » Public Policy
• Economics » Economic Policy
• Science » Energy/Natural Resources

Reviews:

• This book...focuses on changes in the natural gas industry from 1987 through 1991, the relaxing of regulatory rules, and the formation of a network industry, which, when allowed to, can act in a competitive manner....The authors test the extent to which markets have evolved under open access by focusing on field, city gate, hub, and futures markets. Based on their findings, a numer of conclusions and policy implications are offered....an innovative approach for analyzing transmission industries.
  —
  Journal of Economic Literature

• Endorsement From William J. Baumol, director
  C.V. Starr Center for Applied Economics
  New York University: An illuminating work showing how the public can benefit by ingenious use of the market mechanism to replace government regulation. At a time when regulatory arrangements in natural gas, electricity, and telecommunications are in upheaval the study contributes understanding of the issues as well as promising guides for policy.
• Endorsement From Robert L. Bradley, Jr., president
  Institute for Energy Research: The public policy implications of this book are profound. What has happened with natural gas can now happen with electricity--an industry three times as large. This rigorous case study...proves once again--consumers are resourceful, entrepreneurs are alert, and markets work.

Table of Contents:

• Preface
• The Emergence of Markets
• The Transformation of Natural Gas
• Regulation versus Markets
• Crisis and the Emergence of Markets
• The Evolution of Markets
• Markets and Networks
• Markets in the Producing Areas
• City Gates
• Gas Prices and the Futures Market
• Competitive Institutions for Networks
• Assessing Competitiveness
• Policy
• Accessibility Matrices
• Bibliography
• Index