4. PRODUCER REGULATION: A COMMISSIONER'S VIEWPOINT -- Regulation of Natural Gas Producers-Background -- The Kennedy Commission -- Problems Faced by the Kennedy and Johnson Commissions -- Guidelines for In-Line Prices -- Area Pricing -- The Problem of Incomplete and Insufficient Data -- Competitiveness of the Industry -- Effect of Air Pollution on Demand -- Pricing of Interruptible Gas -- Jurisdiction over Direct Sales -- Gas Shortage -- Increased Price As an Incentive to Increased Production -- The Future -- Conclusion -- 5. CHANGING ELEMENTS IN THE NATURAL GAS PICTURE: IMPLICATIONS FOR THE REGULATORY SCHEME -- The Regulatory Scheme -- Pipelines -- Producers -- The "Crisis" in Supply -- The Regulatory Response: Pricing Policy -- Other Aspects of Governmental Policy Bearing on the Supply of Natural Gas -- Federal Leasing Policy -- A Comment on Incentives -- Import Policy -- Liquid Natural Gas -- Synthetic Gas -- Conclusions -- 6. STRUCTURE OF THE NATURAL GAS PRODUCING INDUSTRY -- Concentration -- Rent, Windfall, and Supply -- 7. THE REGULATION-INDUCED SHORTAGE OF NATURAL GAS -- An "Inventory" Approach to Excess Demand -- Supply-Demand Models of Gas Field Markets -- An Introductory "Engineering" Model of Supply and Demand -- An Economic Model of Supply and Demand -- Distribution of the Gas Shortage among Final Consumers -- Appendix: Data Sources -- 8. PRICE, REGULATION, AND THE SUPPLY OF NATURAL GAS IN THE UNITED STATES -- Joint Costs in Oil and Gas Expenditures -- Effects of Regulation and Other Public Policy -- Statistical Estimation of the Price Elasticity of Supply of Natural Gas -- Interpretation of the Results for 1946-58/59 -- Estimated Supply Response, 1959-67 -- Market Clearance through Price Adjustment -- Summary and Conclusions -- 9. PRODUCER REGULATION FOR THE 1970s -- The Public Interest in Natural Gas Field Price Regulation