A bill to amend the Natural Gas Policy Act of 1978 to prohibit increases in the wellhead prices of natural gas, and for other purposes.

Summary

Amends the Natural Gas Policy Act of 1978 to provide that the maximum lawful price applicable to the first sale of natural gas from December 2, 1982, through December 31, 1984, shall be the maximum lawful price applicable to such sale on August 31, 1982, under the Act. Provides that in the case of any first sale of natural gas from a well the surface drilling of which began prior to December 2, 1982, and for which there was no applicable maximum lawful price for such sale on December 2, 1982, through December 31, 1984, shall be the contract price specified for deliveries of such natural gas on August 31, 1982. Provides that the maximum lawful price applicable to the first sale of natural gas on August 31, 1982, shall be increased for any month beginning on or after January 1, 1985, at the rate specified for such gas. Directs the Comptroller General to conduct a study concerning the profitability of natural gas production under the Act. Extends for two years the expiration date of (1) price controls; and (2) standby authority.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 2 December 1982

  Open at official source

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