Crude oil and natural gas pricing. Chapters 300 to 499: natural gas liquids, natural gas
This text analyzes the federal statutes and regulations that affect the pricing and allocation of crude oil, natural gas, and natural gas liquids. It does not cover refined products or imported crude oil except where necessary to place major decisions in historical context. Chapter 300 concerns natural gas liquids. For historical rather than logical reasons, these are regulated as an offshoot of crude oil controls rather than as a by-product of natural gas production. In December 1979, the Economic Regulatory Administration (ERA) deregulated butane and natural gasoline. However, it did not amend 10 CFR 212.161-212.173, and it did not deregulate propane or propane mixtures. Decontrol will be covered in the first update to this book. Chapters 400 to 468 concern natural gas. Although a great deal of attention has been focused on the Natural Gas Policy Act (NGPA), there has been no satisfactory description of the extent to which the Natural Gas Act (NGA; passed in 1938 and amended by the Phillips decision in 1954) still applies. This is quite a problem, since the NGPA is written in vague terms that encourage producers to disregard the NGA. The problem is compounded by the Federal Power Commission's (FPC) approach to regulatory development, which has scattered crucial regulations throughout 18 CFR. All Federal Energy Regulatory Commission (FERC) natural gas production regulations should be repealed, arranged into a systematic grouping, and reissued in a consolidated subpart of 18 CFR. Shortly after the publication of this text, the author will petition the FERC to commence a rulemaking proceeding to that effect. Chapters 480 to 498 will cover the use of natural gas. These chapters will be issued in the first revision to this text as general summaries since the programs do not directly affect gas producers.
- OSTI ID:
- 5172246
- Country of Publication:
- United States
- Language:
- English
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