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Natural Gas Act
The Natural Gas Act of 1938 was the first occurrence of the United States federal government regulating the natural gas industry. It was focused on regulating the rates charged by interstate natural gas transmission companies. In the years prior to the passage of the Act, concern arose about the monopolistic tendencies of the transmission companies and the fact that they were charging higher than competitive prices. The passage of the Act gave the Federal Power Commission (FPC) control over the regulation of interstate natural gas sales. Later on, the FPC was dissolved and became the Federal Energy Regulatory Commission (FERC) pursuant to a different act. FERC continues to regulate the natural gas industry to this day. History of regulation Regulation in the natural gas market has been in place since the very beginnings of the industry. Originally in the mid-1800s, natural gas was manufactured out of coal, and delivered locally in the same area in which it was produced. Local gov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commerce And Trade
Commerce is the organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered large-scale exchange (distribution through transactional processes) of goods, services, and other things of value at the right time, place, quantity, quality and price through various channels among the original producers and the final consumers within local, regional, national or international economies. The diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage are the principal factors that give rise to commercial exchanges. Commerce consists of trade and aids to trade (i.e. auxiliary commercial services) taking place along the entire supply chain. Trade is the exchange of goods (including raw materials, intermediate and finished goods) and services between buyers and sellers in return for an agreed-upon price at traditional (or onli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Energy Regulatory Commission
The Federal Energy Regulatory Commission (FERC) is an independent agency of the United States government that regulates the interstate transmission and wholesale sale of electricity and natural gas and regulates the prices of interstate transport of petroleum by pipeline. FERC also reviews proposals to build interstate natural gas pipelines, natural gas storage projects, and liquefied natural gas (LNG) terminals, in addition to licensing non-federal hydropower projects. FERC was created by the United States Congress, U.S. Congress in 1977 in the aftermath of the 1973 oil crisis. FERC is an independent agency, despite being part of the United States Department of Energy, U.S. Department of Energy. It is headed by five commissioners who are nominated by the U.S. president and confirmed by the U.S. Senate. There may be no more than three commissioners of one political party serving on the commission at any given time. Primary duties The responsibilities of FERC include the followi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of The United States
The Supreme Court of the United States (SCOTUS) is the highest court in the federal judiciary of the United States. It has ultimate appellate jurisdiction over all Federal tribunals in the United States, U.S. federal court cases, and over State court (United States), state court cases that turn on questions of Constitution of the United States, U.S. constitutional or Law of the United States, federal law. It also has Original jurisdiction of the Supreme Court of the United States, original jurisdiction over a narrow range of cases, specifically "all Cases affecting Ambassadors, other public Ministers and Consuls, and those in which a State shall be Party." In 1803, the Court asserted itself the power of Judicial review in the United States, judicial review, the ability to invalidate a statute for violating a provision of the Constitution via the landmark case ''Marbury v. Madison''. It is also able to strike down presidential directives for violating either the Constitution or s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Phillips Petroleum Co
Phillips Petroleum Company was an American oil company incorporated in 1917 that expanded into petroleum refining, marketing and transportation, natural gas gathering and the chemicals sectors. It was Phillips Petroleum that first found oil in the North Sea on December 23, 1969, at a position that was later named Ekofisk. On August 30, 2002, Conoco Inc. merged with Phillips Petroleum to form ConocoPhillips, becoming the third largest integrated energy company and second-largest refining company in the United States. The company moved its headquarters to Houston.Christopher J. Castaneda,"Phillips Petroleum Company." ''Encyclopedia of Oklahoma History and Culture''.Accessed 04 February 2013. In 2012, ConocoPhillips split into two separate companies. The legacy company kept its name, and spun off the midstream and downstream portions of its business. The new company, which owns the refinery, chemical and pipeline assets formerly held in ConocoPhillips, is named Phillips 66, the b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chairman Of The Federal Power Commission
The Federal Power Commission (FPC) was an Independent agencies of the United States government, independent commission of the United States government, originally organized on June 23, 1930, with five members nominated by the President of the United States, president and confirmed by the United States Senate, Senate. The FPC was originally created in 1920 by the Federal Power Act, Federal Water Power Act, which provided for the licensing by the FPC of hydroelectric projects on the land or navigable water owned by the federal government. The FPC has since been replaced by the Federal Energy Regulatory Commission. The FPC also regulated interstate electric utilities and the natural gas industry. In June 1939, President Roosevelt appointed Leland Olds to the FPC, who served as chairman from January 1940 until 1949. Under Olds’ leadership, the FPC successfully pressured electric utilities to extend power into neglected rural areas and to lower electricity rates to increase use. How ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leland Olds
Leland Olds (December 31, 1890 – August 5, 1960) was an American economist interested in labor, development of public electric power, and ecology. Education Olds was a son of George Olds, president of Amherst College. He studied mathematics at Amherst where he was influenced by the ideal of social work and the Social Gospel. He was a graduate student at Union Theological Seminary and then served as pastor of a small Congregational church in Brooklyn before spending some months in the army. Early career "Jolly, witty, informal" as well as "very fair-minded" and an accomplished cellist, Olds had been a minister, a teacher at Amherst, a researcher both for the federal government and the American Federation of Labor and a labor journalist. During 1918 and 1919 he was, along with Thorstein Veblen, part of the original Technical Alliance, associated with the philosophy of Technocracy In 1920 he met Franklin D. Roosevelt, Governor of New York, who appointed him to the Power Autho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Failed Renomination Of Leland Olds
The United States Senate failed to confirm the re-nomination of Leland Olds as the head of the Federal Power Commission in 1949. Olds was an economist who in the 1920s, before he was appointed by Roosevelt as chairman of the commission, had been the Industrial editor for the Federated Press. It was a left wing news agency which served Trade Union newspapers but had an ambiguous relationship with the American Communist Party. The Olds hearings have been cited as a precursor to McCarthyism. Tenure in the Federal Power Commission The Federal Power Commission was a five-member regulatory body appointed by the President and confirmed by the Senate. One of the FPC's strongest leaders was Leland Olds who by 1949 had served two terms. Olds' insistence on enforcing the Natural Gas Act of 1938 raised the ire of the oil industry in Texas. In 1944, when Olds was renominated by Roosevelt, his writing for the Federated Press had been brought up by the anti-New Deal Republican Edward Moore of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kerr Bill
The Kerr Bill was an attempt to deregulate natural gas prices in the United States by amending the Natural Gas Act of 1938 to specifically remove any right of the Federal Power Commission to regulate the price charged for natural gas going into interstate pipelines. It was strongly backed by oil and gas companies. It was opposed by Leland Olds the chairman of the Federal Power Commission, although the Federal Power Commission itself did not take a position on the Bill and it was seen as a big factor in the rejection of Olds when his re-nomination was rejected later that year."The Senatorial Rejection of Leland Olds: A Case Study" Joseph P. Harris American Political Science Review Vol. 45, No. 3 (Sep., 1951), pp. 674-692 In 1948 and 1949 Bills with this aim has passed the House with large majorities, and were defeated by divided votes in the Senate Committee on Interstate and Foreign Commerce. In 1950 it passed both houses of Congress but was vetoed by President Truman Harry ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Congress
The United States Congress is the legislature, legislative branch of the federal government of the United States. It is a Bicameralism, bicameral legislature, including a Lower house, lower body, the United States House of Representatives, U.S. House of Representatives, and an Upper house, upper body, the United States Senate, U.S. Senate. They both meet in the United States Capitol in Washington, D.C. Members of Congress are chosen through direct election, though vacancies in the Senate may be filled by a Governor (United States), governor's appointment. Congress has a total of 535 voting members, a figure which includes 100 United States senators, senators and 435 List of current members of the United States House of Representatives, representatives; the House of Representatives has 6 additional Non-voting members of the United States House of Representatives, non-voting members. The vice president of the United States, as President of the Senate, has a vote in the Senate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Utility Holding Company Act
The Public Utility Holding Company Act of 1935 (PUHCA), also known as the Wheeler-Rayburn Act, was a US federal law giving the Securities and Exchange Commission authority to regulate, license, and break up electric utility holding companies. It limited holding company operations to a single state, thus subjecting them to effective state regulation. It also broke up any holding companies with more than two tiers, forcing divestitures so that each became a single integrated system serving a limited geographic area. Another purpose of the PUHCA was to keep utility holding companies engaged in regulated businesses from also engaging in unregulated businesses. The act was based on the conclusions and recommendations of the 1928-35 Federal Trade Commission investigation of the electric industry. On March 12, 1935, President Franklin D. Roosevelt released a report he commissioned by the National Power Policy Committee. This report became the template for the PUHCA. The political ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Trade Commission
The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) United States antitrust law, antitrust law and the promotion of consumer protection. It shares jurisdiction over federal civil antitrust law enforcement with the United States Department of Justice Antitrust Division, Department of Justice Antitrust Division. The agency is headquartered in the Federal Trade Commission Building in Washington, DC. The FTC was established in 1914 by the Federal Trade Commission Act of 1914, Federal Trade Commission Act, which was passed in response to the 19th-century monopolistic trust crisis. Since its inception, the FTC has enforced the provisions of the Clayton Antitrust Act of 1914, Clayton Act, a key U.S. antitrust statute, as well as the provisions of the FTC Act, et seq. Over time, the FTC has been delegated with the enforcement of additional business regulation statutes and has promul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Utilities Commission
A public utilities commission is a quasi-governmental body that provides oversight and/or regulation of public utility, public utilities in a particular area (locality, municipality, or Administrative division, subnational division), especially in the United States and Canada. The utilities in question may be owned by the consumers that it serves, a mutual utility like a public utility district, a state-owned utility, or it may be a Privately-owned utility, stockholder-owned utility either publicly traded on a stock exchange or closely held among just a few investors. These utilities often operate as Legal monopoly, legal monopolies, which means that they do not compete in a marketplace but are instead regulated by commissions to ensure fair pricing. Canada In Canada, a public utilities commission (PUC) is a public utility regulator, typically a Quasi-governmental, semi-independent Quasi-judicial body, quasi-judicial tribunal, owned and operated within a municipal or local governme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
