Business: What Price Gas?

Should the price of natural gas in the field be regulated by the Federal Government? Federal Power Commission Chairman Jerome Kuykendall and gas producers say no. They favor a bill by Arkansas' Democratic Representative Oren Harris that would free natural gas from regulation at the wellhead, thus overturn a U.S. Supreme Court decision of last June (TIME, June 14). Last week, at a House Interstate and Foreign Commerce Committee hearing on the bill, the representatives of more than a dozen utility companies called for federal regulation; they argued that the continuing increase in the cost of natural gas may price it...

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