Competition in the Natural Gas Pipeline Industry: An Economic Policy Analysis

Competition in the Natural Gas Pipeline Industry: An Economic Policy Analysis

Competition in the Natural Gas Pipeline Industry: An Economic Policy Analysis

Competition in the Natural Gas Pipeline Industry: An Economic Policy Analysis

Synopsis

This work considers the potential effects of competition in the natural gas pipeline industry. Contrary to published studies and government reports, this study concludes that federal regulation in the industry is no longer necessary to limit the market power of current pipeline suppliers. Rather, potential entry by nearby suppliers--a competitive factor largely ignored in most economic analyses--will promote competition in most major markets. The purpose of the work is two-fold: to quantify the competitive effect of potential entry by natural gas suppliers and to demonstrate that any industry analysis which fails to consider this competitive factor is likely to be in error.
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