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The Regulation-Induced Shortage of Natural Gas (Classic Reprint) - Couverture souple

Macavoy, Paul W.

 
9781334468391: The Regulation-Induced Shortage of Natural Gas (Classic Reprint)

Synopsis

This book conducts a quantitative analysis of the Federal Power Commission's impact on the United States' natural gas markets. Following the establishment of regulation in the late 1950s and early 1960s, prices offered for natural gas remained the same, encouraging a massive surge in demand. The author demonstrates how this excess in demand over supply in turn led to a decline in reserve accumulation, since natural gas providers, faced with consistent pricing, had little incentive to explore for further sources. The ultimate result was a significant shortage of natural gas whose effects are still felt today.

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