Natural Gas Policy Act of 1978

The Natural Gas Policy Act of 1978 aimed to deregulate the natural gas market in the United States to promote competition and ensure a stable supply. Before the law, prices were set by the government, which led to shortages. The Act allowed for market-driven pricing and encouraged the development of new sources of natural gas. It also aimed to protect consumers by promoting fair rates and improving access to gas supplies, ultimately leading to more energy security and efficiency in the gas industry.