Oil and gas production has long been a fixture of southern states such as Texas and Oklahoma, but its origins lie in the northeast. After a long dormancy, states such as Pennsylvania are witnessing a natural gas boom brought on by advances in hydraulic fracturing technology. The resurgence has...

This study proposes a new method for creating futures market for natural gas in East Asia, using what we refer to as “open access tankers.” Japan, the largest consumer of liquefied natural gas (LNG) in the world, is considering restructuring its natural gas markets to allow competition....

As long as commodity and securities markets have been in operation, market manipulation has been a serious concern. Now that many electricity and natural gas markets have been opened to competition, manipulation threatens to destroy the value of these markets as well. Yet market manipulation...