§167i — Title 50 War and National Defense | U.S. Code

Summary

Helium that is sold, taken out, processed, moved, or stored is not covered by the Natural Gas Act, even if the natural gas it came from is covered. When setting a natural gas company's rates under sections 4 and 5 of that Act, you must leave out: money from selling helium, direct costs of handling helium, and the share of joint costs assigned to helium by volume.

Title 50, §167i

War and National Defense — Source: USLM XML via OLRC

The provisions of the Natural Gas Act of June 21, 1938, as amended [15 U.S.C. 717 et seq.], shall not be applicable to the sale, extraction, processing, transportation, or storage of helium either prior to or subsequent to the separation of such helium from the natural gas with which it is commingled, whether or not the provisions of such Act apply to such natural gas, and in determining the rates of a natural gas company under section 4 and 5 of the Natural Gas Act, as amended [15 U.S.C. 717c, 717d], whenever helium is extracted from helium-bearing natural gas, there shall be excluded (1) all income received from the sale of helium; (2) all direct costs incurred in the extraction, processing, compression, transportation or storage of helium; and (3) that portion of joint costs of exploration, production, gathering, extraction, processing, compression, transportation or storage divided and allocated to helium on a volumetric basis.

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References in Text

The Natural Gas Act of

June 21, 1938, as amended, referred to in text, means act

June 21, 1938, ch. 556, 52 Stat. 821, known as the Natural Gas Act, which is classified generally to chapter 15B (§ 717 et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 717w of Title 15 and Tables.

§167i Exclusion from Natural Gas Act provisions

Summary

Title 50, §167i

Notes & Related Subsidiaries

Editorial Notes

References in Text

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