announcement stated the combined firm would link “nearly every major production region with markets,” cut costs

by “eliminating duplication in pipelines and other assets,” and that “the savings could be passed on to consumers.”

The objection? The $21.1 billion deal would give Kinder Morgan control of more than 80,000 miles of pipeline,

making the new firm the third largest energy producer in North America. Policymakers and the public wondered
260 11 • Monopoly and Antitrust Policy

whether the new conglomerate really would pass on cost savings to consumers, or would the merger give Kinder

Morgan a strong oligopoly position in the natural gas marketplace?

That brings us to the central questions this chapter poses: What should the balance be between corporate size and

a larger number of competitors in a marketplace, and what role should the government play in this balancing act?
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