Natural gas: From shortages to abundance in the U.S.

Natural gas: From shortages to abundance in the U.S. / Paul L. Joskow, Communication at the American Economic Association annual meeting, San Diego, 4-6 Jan. 2013. To be published in May 2013 in the American Economic Review.

http://www.aeaweb.org/aea/2013conference/program/retrieve.php?pdfid=484

The recent dramatic and largely unanticipated growth in the current and expected future production of shale gas, and the related developments in the production of shale oil, have dramatically changed the energy future of the U.S. and potentially of the world compared to what experts were forecasting only a few years ago. These changes would not have been realized as quickly and efficiently absent deregulation of the wellhead price of natural gas, unbundling of gas supplies from pipeline transportation services, the associated development of efficient liquid markets for natural gas, and reforms to the licensing and regulation of prices for pipelines charge to move gas from where it is produced to where it is consumed…

–> A Comment :

In Praise of Deregulation / Catherine Wolfram, Energy Economics Exchange, January 7, 2013

http://energyathaas.wordpress.com/2013/01/07/in-praise-of-deregulation/

The American Economic Association held their annual meeting this weekend in San Diego. There were many excellent presentations on energy, but one of my favorites was by Paul Joskow on the history of deregulation in the natural gas industry.

Joskow’s paper, which will be published in the May issue of the American Economic Review, argues that deregulation of natural gas and pipeline markets helped set the stage for the shale gas revolution…


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