Statement on Reforming Federal Regulation of Natural Gas Pipelines

I am pleased to announce comprehensive action taken today by the Federal Energy Regulatory Commission to reform Federal regulation of natural gas pipelines. The entire natural gas industry plays a critical role in the economic and environmental health of our Nation.

These reforms are part of the administration's national energy strategy as well as our continuing efforts to remove unnecessary regulatory barriers to jobs and economic growth. They also build upon prior reforms, such as the key legislation I signed in 1989 abolishing price controls on producers of natural gas.

By reforming Federal regulation of the pipelines that transport natural gas, FERC's so-called restructuring rule continues this trend away from heavy-handed Government regulation. Like the decontrol legislation I signed in 1989, FERC's action today will help to create a competitive, nationwide gas market, a market that will provide ample supplies of clean-burning natural gas for heating homes, running factories, and powering cars and trucks.

I commend Chairman Martin Allday and his colleagues on the Commission for their success in bringing reform to this vital American industry.

I call upon Congress, particularly the House of Representatives, to help us continue this reform effort by quickly enacting my national energy strategy legislation.