What is the purpose of the Natural Gas Act of 1978?

The Natural Gas Act of 1978 is a law that was passed by the United States Congress. It was created to regulate the production and distribution of natural gas in the United States. This Act amended the Natural Gas Act of 1938 and had several goals. The primary goal of this Act was to promote competition in the natural gas industry. It aimed to do this by deregulating the prices set by natural gas companies and allowing customers to purchase natural gas from other companies. This would create a free market system and enable customers to get better prices on their natural gas. The Act also aimed to protect customers from potential abuse by natural gas companies. It granted the Federal Energy Regulatory Commission (FERC) the authority to set certain prices and prevent anti-competitive practices. It also allowed FERC to require natural gas companies to give customers access to their pipelines if it would benefit the public interest. The Act also addressed issues such as environmental protection and conservation of natural gas resources. It required natural gas companies to take into account the environmental impacts of their operations and take steps to minimize pollution and make use of natural gas resources responsibly. Overall, the Natural Gas Act of 1978 was created to protect customers from potential abusive and anti-competitive practices while also promoting competition in the natural gas industry. It also aimed to protect the environment and conserve natural gas resources.

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