Consumer Energy Act

Consumer Energy Act - Title I; Natural Gas and Oil Regulatory Reform - Declares it to be the policy of Congress to apply uniform economic regulations to both natural gas and oil production to assure adequate supplies and availability at reasonable prices.

Exempts a small producer from the provisions of this Act for an initial period of 5 years from the date of enactment of this Act. Provides that the Federal Power Commission may by regulation require any such producer to prepare and submit to it such information as the Commission determines to be necessary.

Authorizes the Commission to exempt from the provisions of this Act any transportation or sale of natural gas or oil in interstate commerce with respect to any State which establishes and maintains an adequate program of regulation within such State of such transportation and sale in accordance with this Act.

Requires the Commission, in a rulemaking proceeding, to establish on or before February 1, 1976, and annually thereafter to revise, a national area rate for production within the United States of natural gas and oil. Requires the Commission to establish adjustments to the national area rate for each major producing region to reflect differences in production costs, State taxation, and similar costs.

States that each new producer contract shall be filed by the producer with the Commission within 30 days of its execution.

Authorizes the Commission, after notice, hearing, and opportunity for public comment, to allocate natural gas among pipelines.

Disallows authorization of appropriations for the Commission until either the Chairman of the Committee on Interstate and Foreign Commerce of the House of Representatives or the Chairman of the Committee on Commerce of the Senate certifies that a comprehensive oversight investigation and hearing into and evaluation of the operations and effectiveness of the Commission has been conducted by a committee.

Directs the Commission, so far as practicable, to secure and keep current information with respect to: (1) the ownership, operation, management, and control of any facility for the transportation or sale of natural gas or oil; (2) the total estimated reserves and resources of natural gas and oil of the United States (including the Outer Continental Shelf), the current production therefrom of natural gas and oil, and the ratio of such reserves and resources to the level of current production; (3) the cost of the transportation and sale of natural gas and oil, by company, nation, and type of activity; and (4) the current and projected schedule, by company, nation, and type, of capital expenditures dedicated to the exploration and development of reserves and resources of natural gas and oil in the United States, or the Outer Continental Shelf, and elsewhere throughout the world.

Requires the Commission to assemble lists of major companies and other companies, agencies, institutions, and associations required to report under this section and to prepare, print, and mail to them forms to be used in compiling such reports.

Provides that it shall be the duty of every major company to report annually to the Commission on its assets and operations, worldwide, on an establishment basis.

Establishes penalties for failing to furnish information as may be requested by the Commission.

Title II: Emergency Interim Relief For Consumers of Oil - Provides that, immediately upon the enactment of this title, the President shall issue an order to establish a ceiling on prices of crude oil and petroleum products at levels not to exceed the highest price levels for each such commodity prevailing during the 14-day period that ended January 19, 1974.

Requires that, not later than 30 days after the date of enactment of this title, the President shall issue an order rolling back prices of crude oil and all petroleum products to levels not to exceed the highest price levels for each such commodity prevailing during the 7-day period that ended December 1, 1973.

Allows the President, after notice and an opportunity for the submission of written and oral views and comments by interested parties, to grant specific exceptions from the rollback to compensate for any increased costs incurred for crude oil and petroleum products produced or refined outside the United States, but such exceptions shall in no event allow more than a passthrough for increases in the costs of such commodities.

Title III: Federal Oil and Gas Corporation - Establishes the Federal Oil and Gas Corporation.

Empowers such Corporation to: (1) explore for natural gas and oil on Federal, State, or foreign lands; (2) make available to the general public such geological and geophysical information as it acquires in the course of its activities; (3) develop and produce natural gas and oil from reserves on Federal, State, or foreign lands which it has located; (4) produce from reserves which it has developed or acquired such amounts of natural gas and oil as are necessary or appropriate to meet the needs of the citizens and commerce of the United States for these energy sources; and (5) engage in research directed toward the development or utilization of abundant and nonpolluting supplies of energy.

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, which are subject to such Secretary's jurisdiction and control, to the Corporation.

States that the Corporation shall build, lease, or purchase refining facilities for the crude oil it produces or otherwise obtains only if it is unable to arrange for refining of such oil in an efficient and economical manner.

Authorizes appropriations to the Corporation for the fiscal year ending June 30, 1975, and for each of the next 10 succeeding fiscal years of $50,000,000 for carrying out the provisions of this section.

Title IV: Equal Treatment for Small Producers of Oil and Gas - Provides that whenever the Commission, after notice and opportunity for hearing, finds such action necessary or desirable in the public interest, it may by order direct an oil pipeline company to extend or improve its transportation or storage facilities, and to establish a physical connection of its transportation or storage facilities with the facilities of any person engaged or legally authorized to engage in the refining or distribution of oil, if the Commission finds that such a facility extension would not impair the oil pipeline company's ability to render adequate service to its customers.

Prohibits an oil pipeline company from abandoning all or any portion of its facilities subject to the jurisdiction of the Commission, or any service rendered by means of such facilities, without the permission and approval of the Commission.

Makes it unlawful for any oil pipeline company subject to the provisions of this Act and engaged in the transportation of crude oil or petroleum products to fail to provide any shipper of oil or petroleum products (who meets minimum tender requirements) with access or exit storage or terminal facilities at any origin or destination point.

States that any oil pipeline company subject to this title that knowingly violates the provisions of this section, or aids or abets therein, shall, upon conviction thereof in any district court of the United States within the jurisdiction of which such offense was committed, be fined not more than $150,000, or imprisoned not more than 5 years, or both.

Provides that noncompliance with any provision of this Act, any term or condition of a certificate of public convenience and necessity, or any applicable rule of the Commission may be grounds for suspension or termination of the certificate of public convenience and necessity.

Directs the Federal Trade Commission (FTC) to prepare and submit to Congress, within 12 months, a report regarding its conclusions with respect to requiring the divestiture of oil pipelines from ownership or control by any oil company which has assets of $1,000,000,000 or more together with a determination of the impact of such action upon small producers and consumers of oil and petroleum products.

Title V: Fair Treatment for Retailers of Petroleum Products - Prohibits a refiner or distributor from canceling, failing to renew, or otherwise terminating a franchise unless such refiner or distributor has furnished a notice of intent to each distributor or retailer affected thereby.

Title VI: Termination of Wasteful Rate Structures - Requires that commencing on January 1, 1975, and continuing until the removal of all rate differences which are based either on: (1) the quantity of natural gas or oil sold; or (2) any distinctions between domestic, commercial, industrial, or any other such category of use; all changes in the rates or charges made, demanded, or received by any natural gas or oil company for or in connection with the transportation or sale of natural gas or oil shall be such as to decrease or remove differences in such rates and charges based either on quantity sold or distinctions between categories of use.