Abstract
The current debate over the Natural Gas Policy Act of 1978 (NGPA) has three components: 1. Is the NGPA likely to achieve the goals Congress established for it in 1978? 2. Is the NGPA likely to lead to an extension of controls beyond 1985? If so, what are the consequences of such an extension? 3. What are the costs and benefits of alternatives to the NGPA?
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