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The Political Economy of PipelinesA Century of Comparative Institutional Development$
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Jeff D. Makholm

Print publication date: 2012

Print ISBN-13: 9780226502106

Published to Chicago Scholarship Online: March 2013

DOI: 10.7208/chicago/9780226502120.001.0001

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Existing Pipeline Studies and Private Pipeline Capital

Existing Pipeline Studies and Private Pipeline Capital

(p.16) Chapter Two Existing Pipeline Studies and Private Pipeline Capital
The Political Economy of Pipelines
University of Chicago Press

This chapter evaluates the existing literature on pipelines and the origins of the unique role of private capital in pipeline development in the United States versus the rest of the world. The congressional regulation of pipelines has attracted the attention of political scientists. Private capital has played a key role in the development of pipelines. Its use for pipelines has facilitated the eventual transition to competitive point-to-point gas transport markets. The regulations of 1938 prompted producers to hold back gas supplies for in-state uses, Congress to temporize in only partially relaxing gas price controls, and pipelines to overreact by buying whatever supplies they could find at seemingly whatever terms were demanded by producers. Gas pipeline rate cases were generally perfunctory affairs, and licensing cases were uncontroversial.

Keywords:   pipelines, United States, private capital, gas transport markets, gas supplies, gas price controls

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