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Natural Gas Pipeline Regulation in the United States: Past, Present, and Future

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  • Mason, Charles F.
  • Oliver, Matthew E.

Abstract

This monograph provides a detailed overview of federallevel regulation of the U.S. interstate natural gas pipeline industry. To develop a more complete understanding of the current regulatory environment, we place contemporary rules and regulations into their proper historical context by first reviewing the evolution of gas pipeline regulation over the course of the 20th Century. We then discuss the market restructuring process that culminated in 1992 with FERC Order No. 636, review the economic and policy research that studied its effects on pipeline operations (and on the U.S. natural gas market writ large), and examine the current regulations and industry structure that have since emerged. Finally, we explore possibilities for the future of regulation in the gas pipeline industry, offering some predictions regarding the likely direction of regulatory changes, paying particular attention to the possibility of incentive-based regulation in natural gas transmission.

Suggested Citation

  • Mason, Charles F. & Oliver, Matthew E., 2018. "Natural Gas Pipeline Regulation in the United States: Past, Present, and Future," Foundations and Trends(R) in Microeconomics, now publishers, vol. 11(4), pages 227–288-2, May.
    • Handle: RePEc:now:fntmic:0700000070
    DOI: 10.1561/0700000070
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    References listed on IDEAS

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    1. Yoon, Yong J, 1995. "The natural gas industry and interest rates : FERC Order 636," Energy Policy, Elsevier, vol. 23(9), pages 781-787, September.
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    Cited by:

    1. LaPlue, Lawrence D., 2022. "Environmental consequences of natural gas wellhead pricing deregulation," Journal of Environmental Economics and Management, Elsevier, vol. 116(C).
    2. Walls, W.D. & Zheng, Xiaoli, 2021. "Environmental regulation and safety outcomes: Evidence from energy pipelines in Canada," Resource and Energy Economics, Elsevier, vol. 64(C).
    3. Oliver, Matthew E., 2019. "Pricing flexibility under rate-of-return regulation: Effects on network infrastructure investment," Economic Modelling, Elsevier, vol. 78(C), pages 150-161.

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      More about this item

      Keywords

      natural gas; pipeline industry; energy regulation; regulatory change;
      All these keywords.

      JEL classification:

      • L9 - Industrial Organization - - Industry Studies: Transportation and Utilities
      • N5 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries
      • Q34 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Natural Resources and Domestic and International Conflicts
      • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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