What is the purpose of the Natural Gas Act of 1938?
The Natural Gas Act of 1938 was enacted by the United States Congress to regulate the natural gas industry in the United States. The purpose of the law was to ensure fair prices for consumers while providing a reasonable return on investment for the producers. The law also sought to protect the public interest by ensuring that pipelines are safe and reliable. The law established a Federal Power Commission, which was responsible for regulating the natural gas industry. It established rules governing the sale and distribution of natural gas, including the setting of rates and terms for sales of natural gas between producers and consumers. Additionally, the law enforced safety standards for oil and gas pipelines to ensure that the public is safeguarded from potential hazards. The law also established a dispute resolution process for disagreements between producers and consumers. The law created incentives for investments in new technologies and exploration of resources, in order to stimulate economic growth. Furthermore, it established a mechanism for monitoring and auditing of the industry in order to ensure that the rules are followed. In Washington, the Natural Gas Act of 1938 is enforced by the Department of Commerce. The state of Washington enforces the law by issuing directives and orders to ensure that companies comply with the rules and regulations. Additionally, the state of Washington ensures that the public is adequately protected from hazards associated with natural gas.
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