Regulation and Long-Term Contracting in us Natural Gas Markets
This paper addresses the recent experience of the US natural gas industry with contracting and regulation--the so-called "contracts problem" between producers and pipelines. We develop a simple model of contracting between a single buyer and seller, emphasizing the determination of price a...
Gespeichert in:
| Veröffentlicht in: | The Journal of industrial economics 1986-09, Vol.35 (1), p.71-79 |
|---|---|
| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 79 |
|---|---|
| container_issue | 1 |
| container_start_page | 71 |
| container_title | The Journal of industrial economics |
| container_volume | 35 |
| creator | Hubbard, R. Glenn Weiner, Robert J. |
| description | This paper addresses the recent experience of the US natural gas industry with contracting and regulation--the so-called "contracts problem" between producers and pipelines. We develop a simple model of contracting between a single buyer and seller, emphasizing the determination of price and minimum-purchase ("take-or-pay") provisions. We find that take-or-pay provisions are likely to emerge in regulated and unregulated markets characterized by uncertainty, but that phased deregulation may well exacerbate the problem of contract adjustment. Our model is supported by empirical evidence drawn from recent samples of contracts between wellhead producers and pipelines. |
| doi_str_mv | 10.2307/2098607 |
| format | Article |
| fullrecord | <record><control><sourceid>jstor_proqu</sourceid><recordid>TN_cdi_proquest_miscellaneous_1035700317</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><jstor_id>2098607</jstor_id><sourcerecordid>2098607</sourcerecordid><originalsourceid>FETCH-LOGICAL-c402t-3d9aa2d1aefd18ed4598c5a40c553d7ba1996feeca470bf697b10d22c94036133</originalsourceid><addsrcrecordid>eNp10M1KAzEUBeAgCtYqvkJQQTejN_-TjSBFq1AVpK6HNJMpU6dJTTIL396RdiV0dTYf514OQucEbikDdUdBlxLUARoRLlUhuSCHaARAaUFKSo7RSUorANCCqRG6_3DLvjO5DR4bX-NZ8Mti7uIaT4LP0djc-iVuPe4TfjO5j6bDU5Pwq4lfLqdTdNSYLrmzXY7R59PjfPJczN6nL5OHWWE50FywWhtDa2JcU5PS1Vzo0grDwQrBarUwRGvZOGcNV7BopFYLAjWlVnNgkjA2Rjfb3k0M371LuVq3ybquM96FPlUEmFAAjKiBXvyjq9BHP3xXUSa15IqIAV3uQ4TqkpdCCBjU9VbZGFKKrqk2sV2b-DPcq_7GrnZjD_JqK1cph7iX_QJL0HkU</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>1298485550</pqid></control><display><type>article</type><title>Regulation and Long-Term Contracting in us Natural Gas Markets</title><source>PAIS Index</source><source>Business Source Complete</source><source>Periodicals Index Online</source><source>JSTOR Archive Collection A-Z Listing</source><creator>Hubbard, R. Glenn ; Weiner, Robert J.</creator><creatorcontrib>Hubbard, R. Glenn ; Weiner, Robert J.</creatorcontrib><description>This paper addresses the recent experience of the US natural gas industry with contracting and regulation--the so-called "contracts problem" between producers and pipelines. We develop a simple model of contracting between a single buyer and seller, emphasizing the determination of price and minimum-purchase ("take-or-pay") provisions. We find that take-or-pay provisions are likely to emerge in regulated and unregulated markets characterized by uncertainty, but that phased deregulation may well exacerbate the problem of contract adjustment. Our model is supported by empirical evidence drawn from recent samples of contracts between wellhead producers and pipelines.</description><identifier>ISSN: 0022-1821</identifier><identifier>EISSN: 1467-6451</identifier><identifier>DOI: 10.2307/2098607</identifier><identifier>CODEN: JIEOAF</identifier><language>eng</language><publisher>Oxford: Basil Blackwell</publisher><subject>Contract negotiations ; Contract provisions ; Contracts ; Economic models ; Economic uncertainty ; Industrial economics ; Natural gas industry ; Natural gas pipelines ; Natural gas production ; Oil prices ; Price regulation ; Regulation ; Supply</subject><ispartof>The Journal of industrial economics, 1986-09, Vol.35 (1), p.71-79</ispartof><rights>Copyright 1986 Basil Blackwell</rights><rights>Copyright Blackwell Publishers Sep 1986</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c402t-3d9aa2d1aefd18ed4598c5a40c553d7ba1996feeca470bf697b10d22c94036133</citedby></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/2098607$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.jstor.org/stable/2098607$$EHTML$$P50$$Gjstor$$H</linktohtml><link.rule.ids>314,780,784,803,27866,27869,27924,27925,58017,58250</link.rule.ids></links><search><creatorcontrib>Hubbard, R. Glenn</creatorcontrib><creatorcontrib>Weiner, Robert J.</creatorcontrib><title>Regulation and Long-Term Contracting in us Natural Gas Markets</title><title>The Journal of industrial economics</title><description>This paper addresses the recent experience of the US natural gas industry with contracting and regulation--the so-called "contracts problem" between producers and pipelines. We develop a simple model of contracting between a single buyer and seller, emphasizing the determination of price and minimum-purchase ("take-or-pay") provisions. We find that take-or-pay provisions are likely to emerge in regulated and unregulated markets characterized by uncertainty, but that phased deregulation may well exacerbate the problem of contract adjustment. Our model is supported by empirical evidence drawn from recent samples of contracts between wellhead producers and pipelines.</description><subject>Contract negotiations</subject><subject>Contract provisions</subject><subject>Contracts</subject><subject>Economic models</subject><subject>Economic uncertainty</subject><subject>Industrial economics</subject><subject>Natural gas industry</subject><subject>Natural gas pipelines</subject><subject>Natural gas production</subject><subject>Oil prices</subject><subject>Price regulation</subject><subject>Regulation</subject><subject>Supply</subject><issn>0022-1821</issn><issn>1467-6451</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>1986</creationdate><recordtype>article</recordtype><sourceid>K30</sourceid><sourceid>7TQ</sourceid><recordid>eNp10M1KAzEUBeAgCtYqvkJQQTejN_-TjSBFq1AVpK6HNJMpU6dJTTIL396RdiV0dTYf514OQucEbikDdUdBlxLUARoRLlUhuSCHaARAaUFKSo7RSUorANCCqRG6_3DLvjO5DR4bX-NZ8Mti7uIaT4LP0djc-iVuPe4TfjO5j6bDU5Pwq4lfLqdTdNSYLrmzXY7R59PjfPJczN6nL5OHWWE50FywWhtDa2JcU5PS1Vzo0grDwQrBarUwRGvZOGcNV7BopFYLAjWlVnNgkjA2Rjfb3k0M371LuVq3ybquM96FPlUEmFAAjKiBXvyjq9BHP3xXUSa15IqIAV3uQ4TqkpdCCBjU9VbZGFKKrqk2sV2b-DPcq_7GrnZjD_JqK1cph7iX_QJL0HkU</recordid><startdate>19860901</startdate><enddate>19860901</enddate><creator>Hubbard, R. Glenn</creator><creator>Weiner, Robert J.</creator><general>Basil Blackwell</general><general>Blackwell</general><general>Blackwell Publishing Ltd</general><scope>AAYXX</scope><scope>CITATION</scope><scope>HDMVH</scope><scope>JHMDA</scope><scope>K30</scope><scope>PAAUG</scope><scope>PAWHS</scope><scope>PAWZZ</scope><scope>PAXOH</scope><scope>PBHAV</scope><scope>PBQSW</scope><scope>PBYQZ</scope><scope>PCIWU</scope><scope>PCMID</scope><scope>PCZJX</scope><scope>PDGRG</scope><scope>PDWWI</scope><scope>PETMR</scope><scope>PFVGT</scope><scope>PGXDX</scope><scope>PIHIL</scope><scope>PISVA</scope><scope>PJCTQ</scope><scope>PJTMS</scope><scope>PLCHJ</scope><scope>PMHAD</scope><scope>PNQDJ</scope><scope>POUND</scope><scope>PPLAD</scope><scope>PQAPC</scope><scope>PQCAN</scope><scope>PQCMW</scope><scope>PQEME</scope><scope>PQHKH</scope><scope>PQMID</scope><scope>PQNCT</scope><scope>PQNET</scope><scope>PQSCT</scope><scope>PQSET</scope><scope>PSVJG</scope><scope>PVMQY</scope><scope>PZGFC</scope><scope>7TQ</scope><scope>8BJ</scope><scope>DHY</scope><scope>DON</scope><scope>FQK</scope><scope>JBE</scope><scope>C18</scope></search><sort><creationdate>19860901</creationdate><title>Regulation and Long-Term Contracting in us Natural Gas Markets</title><author>Hubbard, R. Glenn ; Weiner, Robert J.</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c402t-3d9aa2d1aefd18ed4598c5a40c553d7ba1996feeca470bf697b10d22c94036133</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>1986</creationdate><topic>Contract negotiations</topic><topic>Contract provisions</topic><topic>Contracts</topic><topic>Economic models</topic><topic>Economic uncertainty</topic><topic>Industrial economics</topic><topic>Natural gas industry</topic><topic>Natural gas pipelines</topic><topic>Natural gas production</topic><topic>Oil prices</topic><topic>Price regulation</topic><topic>Regulation</topic><topic>Supply</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Hubbard, R. Glenn</creatorcontrib><creatorcontrib>Weiner, Robert J.</creatorcontrib><collection>CrossRef</collection><collection>Periodicals Index Online Segment 15</collection><collection>Periodicals Index Online Segment 31</collection><collection>Periodicals Index Online</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - West</collection><collection>Primary Sources Access (Plan D) - International</collection><collection>Primary Sources Access & Build (Plan A) - MEA</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - Midwest</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - Northeast</collection><collection>Primary Sources Access (Plan D) - Southeast</collection><collection>Primary Sources Access (Plan D) - North Central</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - Southeast</collection><collection>Primary Sources Access (Plan D) - South Central</collection><collection>Primary Sources Access & Build (Plan A) - UK / I</collection><collection>Primary Sources Access (Plan D) - Canada</collection><collection>Primary Sources Access (Plan D) - EMEALA</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - North Central</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - South Central</collection><collection>Primary Sources Access & Build (Plan A) - International</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - International</collection><collection>Primary Sources Access (Plan D) - West</collection><collection>Periodicals Index Online Segments 1-50</collection><collection>Primary Sources Access (Plan D) - APAC</collection><collection>Primary Sources Access (Plan D) - Midwest</collection><collection>Primary Sources Access (Plan D) - MEA</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - Canada</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - UK / I</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - EMEALA</collection><collection>Primary Sources Access & Build (Plan A) - APAC</collection><collection>Primary Sources Access & Build (Plan A) - Canada</collection><collection>Primary Sources Access & Build (Plan A) - West</collection><collection>Primary Sources Access & Build (Plan A) - EMEALA</collection><collection>Primary Sources Access (Plan D) - Northeast</collection><collection>Primary Sources Access & Build (Plan A) - Midwest</collection><collection>Primary Sources Access & Build (Plan A) - North Central</collection><collection>Primary Sources Access & Build (Plan A) - Northeast</collection><collection>Primary Sources Access & Build (Plan A) - South Central</collection><collection>Primary Sources Access & Build (Plan A) - Southeast</collection><collection>Primary Sources Access (Plan D) - UK / I</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - APAC</collection><collection>Primary Sources Access—Foundation Edition (Plan E) - MEA</collection><collection>PAIS Index</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>PAIS International</collection><collection>PAIS International (Ovid)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><collection>Humanities Index</collection><jtitle>The Journal of industrial economics</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Hubbard, R. Glenn</au><au>Weiner, Robert J.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Regulation and Long-Term Contracting in us Natural Gas Markets</atitle><jtitle>The Journal of industrial economics</jtitle><date>1986-09-01</date><risdate>1986</risdate><volume>35</volume><issue>1</issue><spage>71</spage><epage>79</epage><pages>71-79</pages><issn>0022-1821</issn><eissn>1467-6451</eissn><coden>JIEOAF</coden><abstract>This paper addresses the recent experience of the US natural gas industry with contracting and regulation--the so-called "contracts problem" between producers and pipelines. We develop a simple model of contracting between a single buyer and seller, emphasizing the determination of price and minimum-purchase ("take-or-pay") provisions. We find that take-or-pay provisions are likely to emerge in regulated and unregulated markets characterized by uncertainty, but that phased deregulation may well exacerbate the problem of contract adjustment. Our model is supported by empirical evidence drawn from recent samples of contracts between wellhead producers and pipelines.</abstract><cop>Oxford</cop><pub>Basil Blackwell</pub><doi>10.2307/2098607</doi><tpages>9</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0022-1821 |
| ispartof | The Journal of industrial economics, 1986-09, Vol.35 (1), p.71-79 |
| issn | 0022-1821 1467-6451 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_1035700317 |
| source | PAIS Index; Business Source Complete; Periodicals Index Online; JSTOR Archive Collection A-Z Listing |
| subjects | Contract negotiations Contract provisions Contracts Economic models Economic uncertainty Industrial economics Natural gas industry Natural gas pipelines Natural gas production Oil prices Price regulation Regulation Supply |
| title | Regulation and Long-Term Contracting in us Natural Gas Markets |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-05T06%3A20%3A21IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-jstor_proqu&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Regulation%20and%20Long-Term%20Contracting%20in%20us%20Natural%20Gas%20Markets&rft.jtitle=The%20Journal%20of%20industrial%20economics&rft.au=Hubbard,%20R.%20Glenn&rft.date=1986-09-01&rft.volume=35&rft.issue=1&rft.spage=71&rft.epage=79&rft.pages=71-79&rft.issn=0022-1821&rft.eissn=1467-6451&rft.coden=JIEOAF&rft_id=info:doi/10.2307/2098607&rft_dat=%3Cjstor_proqu%3E2098607%3C/jstor_proqu%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=1298485550&rft_id=info:pmid/&rft_jstor_id=2098607&rfr_iscdi=true |