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V. Policy Trends: The Future Is Now - The Decline and Fall of Regulation in the Natural Gas Industry

Abstract:
A theme that runs through the long, convoluted history of natural gas regulation is the seemingly inexorable expansion of government intervention. Regulation has spawned further regulation; soon after one regulatory gap was filled, another appeared. Municipal franchising and price regulation of gas distributors led to state oversight of intrastate gas transmission, which prompted federal regulation of interstate transmission, followed by control of interstate affiliated field prices and later interstate independent field prices. Finally, the Natural Gas Policy Act of 1978 (NGPA) extended federal jurisdiction to all intrastate field sales.

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Energy Specializations: Petroleum – Policy and Regulation; Natural Gas – Policy and Regulation; Electricity – Policy and Regulation

JEL Codes:
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Natural gas industry, NGPA, US, Regulation, Energy policy

DOI: 10.5547/ISSN0195-6574-EJ-Vol3-No4-5


Published in Volume 3, Number 4 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.