The role of the regulator : a producer's perspective

A series of overhead viewgraphs accompanied this presentation which focused on the market powers of Canadian pipelines and the role of the economic regulators for the petroleum industry. Pipelines were described as being natural monopolies within a market power which is controlled by a regulator. Traditional economic regulation sets prices and terms for conditions of service. The regulator is also responsible for protecting the public interest in the absence of competition. It was noted that in Canada, no effective or real pipeline competition exists. A map showing the 11 Canadian pipelines and their concentration of ownership was included. A graph showing the evolution of economic regulation in Canada's petroleum industry from 1969 to 1999 was included. It was also shown that Western Canada Sedimentary Basin marketed gas has been on a steady increase since 1986. 1 tab., 6 figs