Summary and Final Tasks

Key Learning Points: Lesson 7

1. All pipelines, crude and natural gas, are regulated by the federal government and regulations have evolved over time.
2. Pipelines provide various levels of service.
3. The rates they charge must be “just and reasonable,” and must be posted on their websites.
4. Once a heavily-regulated industry, natural gas pipelines became deregulated in 1985, and the “spot” market emerged.
5. Marketing companies developed to provide the once “bundled” services provided by the pipelines and gas companies.
6. The costs incurred in transporting crude and natural gas must be considered in the “value chain” from wellhead to end-use.

The services and rates that pipelines charge represent a component of the value chain for crude and natural gas, but how the actual wellhead and delivered prices are determined will be examined in the next lesson.

Reminder - Complete all of the lesson tasks!

You have reached the end of this lesson. Double-check the list of requirements on the first page of this lesson to make sure you have completed all of the activities listed there before beginning the next lesson.