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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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The Competitive Potential for the World's Pipeline Systems

The Competitive Potential for the World's Pipeline Systems

(p.153) Chapter Eight The Competitive Potential for the World's Pipeline Systems
The Political Economy of Pipelines
University of Chicago Press

This chapter investigates whether the efficient Coasian market in rights enjoyed by the US gas industry has any chance of developing in other pipeline markets, and analyzes the stunted nature of gas commodity markets in Europe and Australia. The absence of Coasian bargaining in Canadian pipeline transport rights probably affected the gas prices at various locations across Canada. The UK government and its regulators focused on lowering the entry barriers to gas marketers. Australia would seem to have the structural basis for a competitive gas market. In general, the EU worked on the institutions that: govern the way its pipelines are regulated; transact with customers; facilitate or impede the growth of a competitive gas market; and promote the security of its gas supplies without resorting to redundant pipelines and complex political maneuverings.

Keywords:   pipeline markets, Coasian market, US gas industry, Australia, Canada, UK government, gas market

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