Abstract
US consumers of natural gas have enjoyed significant benefits as the pricing of the commodity has been deregulated. Thanks in large part to the success of deregulation of the natural gas commodity, US federal regulators have embarked upon a wide-ranging programme of eliminating barriers to entry and expansion of natural gas pipelines, which have traditionally been regulated as natural monopolies. As a result, there is now significant excess capacity in the natural gas transmission sector, without measurable benefits to consumers.
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