Oil pipeline deregulation a blueprint for FERC's gas and electric program
✍ Scribed by Morgan, Richard G. ;Myers-Kerbal, Elisabeth R.
- Publisher
- John Wiley and Sons
- Year
- 2007
- Weight
- 682 KB
- Volume
- 17
- Category
- Article
- ISSN
- 0743-5665
No coin nor oath required. For personal study only.
✦ Synopsis
n this age of virtual reality, the Federal Energy I Regulatory Commission (FERC) has outdone itself and achieved a degree of regulation of oil pipelines that is virtual deregulation, or more aptly, "virtual" regulation. The commission has done this without the benefit of any legislative authorization.
Thus, today oil pipelines may collect revenues in excess of just and reasonable levels with security and impunity. Notwithstanding FERC's complaint process, the odds of the commission actually enforcing its regulations or the statute governing FERC's regulation of oil pipelines are pretty slim, maybe 20 percent. For oil pipelines, FERC has reduced regulation to mere nuisance proportions.
..." turned a blind eye," thereby accomplishing deregulation by inaction.