Over the past six decades federal regulatory agencies have attempted different strategies to regulate the natural gas industry in the United States. All have been unsuccessful, resulting in nationwide gas shortages or massive gas surpluses and costing the nation scores of billions of dollars. In...

Intro -- Contents -- List of Figures -- List of Tables -- Preface -- 1 An Introduction to Regulation and the Performance of Gas Markets -- 2 A Model of Natural Gas Market Wellhead Prices and Quantities -- 3 The Regulation of Gas Field Contracts and the Resulting Gains and Losses from Market...