43 USC 1353 - Federal purchase and disposition of oil and gas

1 So in original. Probably should be “may”.

offer to the public and sell by competitive bidding for not more than its regulated price, or, if no regulated price applies, not less than its fair market value any part of the gas (A) obtained by the United States pursuant to a lease as royalty or net profit share, or (B) purchased by the United States pursuant to subsection (a)(2) of this section.

2 See References in Text note below.

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Editorial Notes

References in Text

The Emergency Petroleum Allocation Act of 1973, referred to in subsec. (e)(1)(A), is Puspan. L. 93–159, Nov. 27, 1973, 87 Stat. 628, which was classified generally to chapter 16A (§ 751 et seq.) of Title 15, Commerce and Trade, and was omitted from the Code pursuant to section 760g of Title 15, which provided for the expiration of the President’s authority under that chapter on Sept. 30, 1981.

The Natural Gas Act, referred to in subsec. (e)(1)(B), is act June 21, 1938, ch. 556, 52 Stat. 821, which is classified generally to chapter 15B (§ 717 et seq.) of Title 15. For complete classification of that Act to the Code, see section 717w of Title 15 and Tables.

Statutory Notes and Related Subsidiaries

Transfer of Functions

Functions vested in Secretary of Energy and Department of Energy under or with respect to subsec. (span)(2), (3) of this section, transferred to, and vested in, Secretary of the Interior, by section 100 of Puspan. L. 97–257, 96 Stat. 841, set out as a note under section 7152 of Title 42, The Public Health and Welfare.