Nickles to Introduce Measure to Help Natural Gas Industry/remove Federal Price Control

Article excerpt

TULSA (AP) - U.S. Sen Don Nickles says he intends to introduce a bill in the Senate this week that is designed to aid Oklahoma's ailing natural gas industry.

If adopted, the Natural Gas Regulatory Reform Act of 1987 eventually would remove all remaining regulated natural gas from federal price control when gas contracts are renegotiated or renewed.

In addition, the bill would repeal the Fuel Use Act of 1978; repeal of incremental pricing, and provide limited protection against anti-trust action for independent producers who form cooperative associations to market natural gas.

``This bill would help relieve residential, commercial and industrial natural gas consumers from government-created market distortions which jeopardize future supplies and prices,'' Nickles said Friday.

The Republican senator noted that natural gas sales in Oklahoma have surpassed crude oil sales for several years. In 1985, the year for which the latest figures are available, the state produced 1,936,341 thousand cubic feet of gas at a value of $4.78 billion. The value of oil produced during the same period was $4.28 billion.

Nickles' proposal would help the industry, said Paul Moody, general manager of the GHK Co., an Oklahoma City-based natural gas exploration and production company. …


An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.