An Econometric Policy Model of Natural Gas (Classic Reprint) - Hardcover

Paul W. Macavoy

9780666175076: An Econometric Policy Model of Natural Gas (Classic Reprint)

Hardcover

ISBN 10: 0666175071 ISBN 13: 9780666175076

Publisher: Forgotten Books, 2018

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Excerpt from An Econometric Policy Model of Natural Gas

Much has been made of an energy crisis in the United States, and the need for planning to meet needs of consumers in the coming decades. Economists have not joined the legions of those proclaiming emergency, except perhaps in the case of natural gas. In this industry, there is a crisis in the economist's sense of non-clearing of demands. There exists a shortage of natural gas in this country, to the extent that non-delivery on contract sales was approximately 3 percent of total sales of the inter; state pipelines in 1971-1972, and 2 percent of national sales by all sources [4, Chapter This crisis has been precipitated by direct control of gas field contract prices by the Federal Power Commission in the 1960's Policy changes are needed to solve this crisis.

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About the Author

Paul W. MacAvoy is a Thomas F. and William J. Gilbane President Fellow in the Department of Economics at Brown University. Professor MacAvoy served on President Ford's Council of Economic Advisors and on the board of directors of several corporations including Lafarge, American Cyanamid, Alumax, Combustion Engineering and the Chase Manhattan Bank Corporation. He is the author of twenty books and numerous journal articles focusing on government regulation of the structure and conduct of the corporation. Ira M. Millstein, Senior Partner, Weil, Gotshal & Manges LLP, has taught corporate governance, antitrust, and government regulation at New York University, Harvard's Kennedy School of Government, and currently as a Visiting Professor at the Yale University School of Management. An Elected Fellow of the American Academy of Arts & Sciences, he has counseled over 50 public and philanthropic boards, including General Motors, CalPERS, Tyco, and The Nature Conservancy, and has published numerous articles on corporate governance.

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