Problem
1. What characteristic of natural gas infrastructure led to regulation of the natural gas industry in the first half of the 20th century? What type of regulation was used? What is the economic justification for this type of regulation?
2. Explain the 1954 U.S. Supreme Court Phillips decision. Referring back to your answer to question 3, explain whether you agree or disagree with the Court's decision.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.