There is general agreement that the natural gas industry currently faces serious problems. Historically, this is not surprising. Natural gas has long been the subject of regulatory and legislative adjusting, fixing and tinkering. The current public debate over natural gas, however, is distinguished by much disagreement as to just what problems the industry faces and, not surprisingly, what the appropriate remedies might be.

This paper will attempt to identify and describe the problems currently confronting the natural gas industry. The paper will comment on the legal and policy implications of these proposed remedies. Finally, it will outline regulatory and legislative solutions now being considered by Congress.

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