What is the purpose of the Natural Gas Act of 1938?
The Natural Gas Act of 1938 was a federal law that regulated the interstate transportation and sale of natural gas. Through this law, the Federal Power Commission (FPC) was given the authority to regulate the production, transportation, sale, and price of natural gas. The purpose of this act was to provide protection to consumers and producers, as well as to preserve competition in the natural gas industry. The primary goal was to ensure that natural gas remained affordable for consumers, and that producers received a fair price for their product. Without regulation, producers could have charged what they wanted, leading to higher costs for consumers. The Act also sought to limit industry monopolies, and promote an open and competitive market for natural gas throughout the United States. The Act also set up safety regulations for the storage and delivery of natural gas. To ensure that these regulations were met, the FPC had the power to issue permits and inspect gas companies. This helped ensure that consumers got the right amount of gas at the right price, and that companies were meeting safety regulations. Overall, the Natural Gas Act of 1938 regulated the interstate transportation and sale of natural gas in order to protect consumers and promote competition in the market. This prevented monopolies from forming, helped keep prices low, and ensured that natural gas was safely delivered to the homes of consumers.
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