Exhibit ARCO-103 in Texaco Refining & Marketing Inc's et al proceeding under OR96-2 et al: Prepared answering testimony of Jeff D Makholm on behalf of the Asociation of Oil Pipe Lines.

Jnofflclal FERC-Generated PDF of 20030728-1281 Received by F E R C OSEC 02/01/2002 in D o c k e t # : OR96-2-007~ I Exhibit (AOPL- 1) NATIONAL ECONOMIC ill ~ Ii1~1 m RESEARCH ASSOCIATES COalUlt~t Eon~t*lls ON[ MAr~ S T ~ " C,~qJMmoL ~ c t ~ s t t r t s 02142 zet: 617621.0444 F~X: 617.621.0336 . Q ;wrFR~lr: Itttn:lAcw~c.~t,:~ Q UNITED STATES OF AMERICA BEFORE THE FEDERAL ENERGY REGULATORY COMMISSION a ARCO Products Co. et aL v. SFPP, L.P. Docket Nos. OR96-2-000, et al. Q am PREPARED ANSWERING TESTIMONY OF JEFF D. MAKHOLM, PH.D. g on behalf of the I Association of 011 Pipe Lines June21,2001 ImNltt/, iiilmT II~lr/.tl~ O01~IEII~I h k. Z'.'.'.t#..l~,, = . ! . . . . . . . lxt, ~ . . . ~ .-. I : ' . 0 . , ~ ........ ~ Mk*C omlbm? Jnofficial FERC-Generated P D F o f 20030728-1281 Received by FERC OSEC 02/01/2002 in D o c k e t # : OR96-2-007~ J Exhibit (AOPL- 1) a ......... . i 1 1. Introduction ~te~ttml. a:J.,.:.~'.ii~:~2:: 2 Q. Please state your name, business address and current position. m 3 A. My name is Jeff D. Makholm. I am a Senior Vice President at National Economic 4 Research Associates, Inc. (NERA). NERA is a firm of consulting economists with its 5 principal offices in a number of major U.S. and European cities. My business address is 6 One Main Street, Cambridge, Massachusetts 02142. Ill 7 Q. Please describe your academic background. m 8 A. I received M.A. and Ph.D. degrees in economics from the University of Wisconsin, 9 Madison, with a major field of Industrial Organization and a minor field of I 10 Econometrics/Public Economics. I also received B.A. and M.A. degrees in economics from 11 the University of Wisconsin, Milwaukee. Prior to my latest full-time consulting activities, I 12 was an Adjunct Professor in the Graduate School of Business at Northeastern University, in 13 Boston, Massachusetts, teaching courses in microeconomic theory and managerial 14 economics. 15 Qo Please describe your work experience generally. 16 A. My consulting work centers on economic issues involving pricing, regulation, and markets, 17 for regulated industries, oil and gas pipelines included. Much of my professional research, 18 including publications, deals with the development of competition in the pipeline industry 19 in the United States. I have appeared as an expert before the Commission or State 20 regulatory bodies on behalf of many pipeline transportation and distribution companies, as 21 well as oil pipeline shippers, from 1982 to the present. I ...