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RCED-83-140 1 (1983-04-11)

handle is hein.gao/gaobabmxq0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON, D.C. 20548 RESOURCES, COMMUNITY, AND ECONOMIC DEVELOPMENT OIVISION B-211402 APRIL 11, 1983 The Honorable James McClure Chairman, Committee on Energy and Natural Resources 11172 United States Senate 121172 Dear Mr. Chairman: Subject: Analysis of the Administration's Natural Gas Decontrol Plan (S.615) (GAO/RCED-83-140) This letter responds to your request of March 16, 1983, for our analysis of the Natural Gas Consumers Regulatory Reform Amendments of 1983 (S.615). Your office asked that we examine as many of the six questions you posed as possible by April 11 and respond to the remainder in a supplementary report to you and other Members of Congress which will be delivered at a later date. The questions we address in this letter and enclosure are: --The short-run impacts of S.615 on gas supply and prices. We have defined the short run as the period 1983-87. --The extent to which increases in the price of old (low-priced) gas will be compensated by decreases in the price of other categories of gas. --An analysis of the provisions of S.615 designed to influence the renegotiation of existing producer/pipeline contracts. A full description of the scope, methods, and results of our review can be found in the enclosure to this letter. Be- cause of the short time available to analyze the bill and report by April 11, certain limitations had to be imposed on our anal- ysis. Specifically, many of our results are based on a GAO- developed natural gas supply/demand model. This model estimates the supply of and demand for gas separately and integrates the results to estimate wellhead prices and production. On the 001723

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