Federal Oil and Gas Corporation Act
Latest action. Referred to House Committee on Interstate and Foreign Commerce.
Federal Oil and Gas Corporation Act - Directs the Federal Power Commission to establish a corporation to be known as the Federal Oil and Gas Corporation, administered by a Board of Directors consisting of five qualified individuals who shall be selected by the President, by and with the advice and consent of the Senate. Requires that all members of the Board shall be individuals who believe and profess a demonstrable belief in environmental protection and the purposes of the antitrust and consumer protection laws of the United States. Requires that no member of the Board shall, during his term in office, be engaged in any other business, nor may he have any financial interest in any business entity which is engaged in the exploration, development, production, transportation, or sale of natural gas or oil. Grants the Corporation power to: (1) explore for natural gas and oil on Federal, State, foreign, or private lands; (2) develop and sell natural gas or oil discovered by exploration, or otherwise obtained by sale, lease, purchase, exchange, or contract, and to build and operate all those facilities necessary for the development or sales of such resources; and (3) engage in research directed toward the development or utilization of abundant and nonpolluting supplies of energy, from whatever source. Requires any Federal agency or department having authority to lease, sell, or otherwise dispose of Federal lands, or rights to natural gas or oil which is or may be located on Federal lands, including offshore rights, shall, upon receipt of a request of the Corporation under this Act, grant the Corporation such right to develop without payment within 90 days after the receipt of such request. Directs the Secretary of Defense, acting for the Secretary of the Navy, to transfer possession of certain properties inside the naval petroleum and oil shale reserves, to the Corporation. Requires the Corporation to build, lease, or purchase refining facilities for the crude oil it produces or otherwise obtains only if it is unable to make sales of such oil in a manner which will promote competition among suppliers of crude oil; and to build, lease, or purchase transportation facilities for the natural gas or oil it produces or otherwise obtains only if it is unable to arrange for delivery of such natural gas or oil in a manner which will promote competition among suppliers of natural gas or oil. Requires that sales of natural gas or oil by the Corporation shall be made at fair and reasonable prices designed to promote competition among suppliers of these energy resources. Authorizes to be appropriated to the Corporation for the fiscal year ending June 30, 1974, and for each of the next ten succeeding fiscal years $50,000,000 to carry out its activities under this Act. Provides that all funds appropriated pursuant to this Act shall remain available until expended.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on February 27, 1974. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on February 27, 1974: Referred to House Committee on Interstate and Foreign Commerce.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 93rd Congress (1973-74), 651 of the 23,396 bills and joint resolutions introduced became law, about 2.8 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
ROBERT NIX (D-PA) introduced it on February 27, 1974. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on February 27, 1974, 19188 days ago. The most recent recorded action was 19188 days ago, on February 27, 1974.
Measures do not carry over. Anything the 93rd Congress has not finished by January 3, 1975 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers