What can be done to address periods of tight supply/demand balances?
On the supply side, industry responds to changing cycles of supply and demand through adjustments in exploration and development pace, and a well established gas storage system now exists in North America. As the use of natural gas continues to grow there is a need for governments and regulators to streamline their policies and processes to ensure that the development of new resources, both conventional and unconventional, can occur at a pace that is responsive to changes in the market and allows industry to optimize production development. The ability to gain access to new supply regions, some more remote than others, and to new or growing markets is critical to timely and responsive supply development and can be accelerated through improved regulatory processes and other government policy. On the demand side, governments and regulators can deploy measures to assist consumers to reduce demand through improved end-use efficiency. This could include improved home insulation, ensuring th
