Liquidity Issues in the U.S. Natural Gas Market: Part 2 of 2
By Gary Mahrenholz, Ph.D., Economist, Office of Enforcement’s Division of Energy Market Oversight, U.S. Federal Energy Regulatory Commission and Vincent Kaminski, Ph.D., Professor in the Practice of Energy Management, Jesse H. Jones Graduate School of Business, Rice University and Member of the JPMCC’s Research Council
This paper is the second in a two-part series. In part 1, which appeared in the Winter 2019 edition of the GCARD, the authors examined different liquidity measures and considered their relevance to the natural gas markets. In the current paper, the authors review unique features of the U.S. natural gas markets and how price formation occurs for various types of natural gas products.
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