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The Resource Regulation of the Natural Gas Producing Industry

Regulation of the Natural Gas Producing Industry

Regulation of the Natural Gas Producing Industry
Regulation of the Natural Gas Producing Industry
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non fiction
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Routledge Revivals
Regulation of the Natural Gas Producing Industry
Regulation of the Natural Gas Producing Industry
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  • Cover -- Title -- Copyright -- Original Title -- Original Copyright -- FOREWORD -- CONTENTS -- INTRODUCTION -- Factual Issues in Dispute -- Competition and Rent in the Natural Gas Producing Industry -- Costs and Elasticity of Supply -- Demand Elasticity and Future Demand Growth -- Current Quantities Supplied and Demanded -- Transient Results from Removing Price Controls -- Evaluating Regulatory Alternatives -- Effects of Current FPC Price Regulations -- Decontrol of New Gas Prices -- Decontrol of All Gas Prices -- The Market Value Standard -- Proposals for Improving Industry Performance -- Conclusions -- A Note on Economics and Natural Gas Regulation -- The Goal of Optimum Resource Allocation -- Regulation, Optimum Resource Allocation, and Income Transfer -- Economic Rent -- Regulation and the Optimal Consumption Rate over Time -- Other Costs of Regulation -- Market Price, Regulation, and Resource Allocation -- Analytical Difficulties Connected with the Natural Gas Producing Industry -- 1. NATURAL GAS IN THE FUTURE NATIONAL ENERGY PATTERN -- Present Patterns of U.S. Production and Consumption of Natural Gas -- Role of Pipeline-owned Gas in Meeting U.S. Gas Needs -- Variations in Natural Gas Consumption Statistics -- Trends in Natural Gas Consumption -- Behavior of the Intrastate Market -- Projections of U.S. Energy and Gas Requirements to 1990 under Customary Assumptions -- Review of Individual Studies of U.S. Energy Consumption -- The Consensus -- Estimates of Future U.S. Gas Consumption -- Trends by Use and by Region -- Future U.S. Gas Demand under Alternative Assumptions -- Econometric Studies -- Residential and Small Commercial Uses -- Industrial Markets -- Impact of Environmental Policies -- Policy Implications -- Summary -- Appendix: Reviews of Seven Gas Demand Studies Utilizing Econometric Techniques
  • 2. INTERFUEL RELATIONS GOVERNING NATURAL GAS DEMAND AND SUPPLY -- Special Advantages of Natural Gas -- Natural Gas in Competition with Other Fuels -- Relation of Hydrocarbon Liquids and Gases -- Displacement of Manufactured Gas by Natural Gas -- Price Relation of Oil and Gas -- Determining a Natural Gas Price Policy -- Federal Regulation of Interstate Gas Prices -- Balancing Gas Demand and Supply -- 3. PROJECTED COSTS OF ALTERNATE SOURCES OF GAS -- Canadian Pipeline Gas -- Current Prices of Canadian Gas -- Future Prices of Alberta Gas -- Projected Quantities of Imported Canadian Gas -- Current Canadian Gas Transmission Costs -- Projected Canadian Gas Transmission Pipelines -- Trans Alaskan Pipeline -- Projected Gas Transmission Costs -- LNG Pipelines -- Importation of Pipeline Gas from Mexico -- Nuclear Stimulation of Natural Gas Reserves -- LNG from Alaska and Foreign Sources: General Considerations -- Tanker Construction Costs -- Availability of Overseas Natural Gas Reserves -- Port Facilities -- Shipping Distances -- Relationship of Base Load Markets -- Relationship to Peakshaving Markets -- Transportation of LNG from Alaska -- LNG Importation Projects -- El Paso Project -- Philadelphia Gas Works Project -- Distrigas Project -- Columbia Gas System-Standard Oil Company Project -- Estimated Cost of Imported LNG -- Synthetic Gas from Coal -- Bituminous Coal Research Two-Stage Superpressure Process -- Kellogg Molten-Salt Process -- Consolidation Coal Company's C02 Acceptor Process -- IGT Hydrogasification Process -- Char-Oil Energy Development Process -- Comparative Economics of Synthetic Gas Processes -- Availability of Coal Reserves -- Projected Gas Costs in Various Coal Regions -- Southern Illinois -- Appalachia -- North Dakota -- Wyoming -- Colorado -- Four Corners Area -- Projected Gas Costs from Heavy Oil -- Conclusions
  • 4. PRODUCER REGULATION: A COMMISSIONER'S VIEWPOINT -- Regulation of Natural Gas Producers-Background -- The Kennedy Commission -- Problems Faced by the Kennedy and Johnson Commissions -- Guidelines for In-Line Prices -- Area Pricing -- The Problem of Incomplete and Insufficient Data -- Competitiveness of the Industry -- Effect of Air Pollution on Demand -- Pricing of Interruptible Gas -- Jurisdiction over Direct Sales -- Gas Shortage -- Increased Price As an Incentive to Increased Production -- The Future -- Conclusion -- 5. CHANGING ELEMENTS IN THE NATURAL GAS PICTURE: IMPLICATIONS FOR THE REGULATORY SCHEME -- The Regulatory Scheme -- Pipelines -- Producers -- The "Crisis" in Supply -- The Regulatory Response: Pricing Policy -- Other Aspects of Governmental Policy Bearing on the Supply of Natural Gas -- Federal Leasing Policy -- A Comment on Incentives -- Import Policy -- Liquid Natural Gas -- Synthetic Gas -- Conclusions -- 6. STRUCTURE OF THE NATURAL GAS PRODUCING INDUSTRY -- Concentration -- Rent, Windfall, and Supply -- 7. THE REGULATION-INDUCED SHORTAGE OF NATURAL GAS -- An "Inventory" Approach to Excess Demand -- Supply-Demand Models of Gas Field Markets -- An Introductory "Engineering" Model of Supply and Demand -- An Economic Model of Supply and Demand -- Distribution of the Gas Shortage among Final Consumers -- Appendix: Data Sources -- 8. PRICE, REGULATION, AND THE SUPPLY OF NATURAL GAS IN THE UNITED STATES -- Joint Costs in Oil and Gas Expenditures -- Effects of Regulation and Other Public Policy -- Statistical Estimation of the Price Elasticity of Supply of Natural Gas -- Interpretation of the Results for 1946-58/59 -- Estimated Supply Response, 1959-67 -- Market Clearance through Price Adjustment -- Summary and Conclusions -- 9. PRODUCER REGULATION FOR THE 1970s -- The Public Interest in Natural Gas Field Price Regulation
  • Regulation for Monopoly Control -- Regulation to Alter Use Rate -- Regulation to Redistribute Income -- The Three Proximate Goals Summarized -- FPC Field Price Regulation -- Supply and Demand for Natural Gas -- The Field Market Model: Jurisdictional and Nonjurisdictional Sales -- The Effect of FPC Area Price Regulation on Economic Welfare -- Welfare Effects of a Sub-Equilibrium Price -- Area Price Regulation and Resource Misallocation -- Regulation and Allocational Efficiency -- Reform of Current Area Price Regulation -- Restructuring of Producer Regulation -- Interarea Differentials -- The Base Price for Gas -- Revisions of Area Prices -- The Multi-Price System -- Field Price Deregulation -- Short-run Effects -- Long-run Effects -- Conclusions -- Producer Regulation for the 1970s -- 10. THE FUTURE OF NATURAL GAS REGULATION WITH AN INADEQUATE SUPPLY OF DOMESTICALLY PRODUCED NATURAL GAS -- Environmental Issues and Demand for Natural Gas -- Interrelationships of Natural Gas and Petroleum -- Regulation of Sources of Natural Gas Supply -- Natural Gas Imports from Canada and Mexico -- Importation of Liquefied Natural Gas -- Synthetic Pipeline Gas -- Monopoly versus Economic Rent -- Synthetic, or Chronological, Marginalism -- Public Utility Regulation and Comparative Advantage -- Micro-economics and Macro-politics -- Bygones Are Forever Bygones
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1st ed.
1 online resource (277 pages)
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