Overview

Since 1984, relaxed federal guidelines have allowed the natural gas industry to become far more flexible and competitive. Once gas pipelines were given the option of open access, the barriers to markets and competition dissolved. The success of open access points to the emergence and evolution of a fluid and informationally rich network of regional markets that form today's single national market for natural gas. A broad range of specialists and academics in economics, regulatory economics and economic modeling, industrial organization, and energy and natural resources will find the implications of this work important reading.

Full Product Details

Author:   Arthur S De Vany ,  W. David Walls ,  Arthur S. De Vany
Publisher:   Bloomsbury Publishing Plc
Imprint:   Praeger Publishers Inc
Dimensions:   Width: 15.60cm , Height: 0.90cm , Length: 23.40cm
Weight:   0.393kg
ISBN:  

9780899309446

ISBN 10:   0899309445
Pages:   152
Publication Date:   23 May 1995
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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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

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 ?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 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. -Robert L. Bradley, Jr., president Institute for Energy Research 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. -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. -William J. Baumol, director C.V. Starr Center for Applied Economics New York University

Author Information

ARTHUR S. DE VANY is Professor of Economics and a member of the Institute for Mathematical Behavioral Sciences at the University of California, Irvine. DAVID WALLS is Assistant Professor of Economics at the School of Economics and Finance at the University of Hong Kong.

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