Vertical Market Arrangements, Risk-Shifting, and Natural Gas Pipeline Regulation (Classic Reprint)

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Excerpt from Vertical Market Arrangements, Risk-Shifting, and Natural Gas Pipeline Regulation The process of decontrolling the wellhead price of natural gas, begun by the Natural Gas Policy Act of 1978 (NGPA), has started to work major changes on the nature of the business of producing, transporting and distributing natural gas. The increase in wellhead prices, coupled with recession-induced shifts in industrial demand, have caused many major gas pipeline companies to experience a substantial loss of industrial load. This is a new experience within the memories of most pipeline executives, wellhead price controls having held gas prices below the price of competitive fuels since the historic 1954 Supreme Court decision in Phillips Petroleum Co. vs. Wisconsin. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.