Natural Gas Act of 1938

The Natural Gas Act of 1938 is a U.S. law that regulates the interstate transportation and sale of natural gas. It established the Federal Power Commission (now the Federal Energy Regulatory Commission) to oversee the industry, ensuring fair pricing and preventing monopolistic practices. The Act was designed to promote the efficient distribution of natural gas while protecting consumers and ensuring that companies operate fairly. By regulating the markets and ensuring access, it aimed to foster a stable and reliable natural gas supply for the country.