The report concerns the current regulatory picture affecting the supply and distribution of natural gas. It analyzes possible changes in this regulatory picture and appraises alternate regulatory stragegies which could bring about increased supplies. This abridged report deals only with the regulatory situation pertaining to the supply of gas. For purposes of the analysis, the author has generally treated natural gas in two broad categories: Conventional supply from well head production within the contiguous Lower 48 States; and Non-conventional sources of supply. For a more detailed study, see PB-219 667.