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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on May 7, 1974.
(LATEST SUMMARY) Federal Energy Administration Act - Establishes the Federal Energy Administration to assure that the nation's energy needs are met for the forseeable future. Directs the Administration to plan, direct, and conduct programs related to production, conservation, and allocation of all forms of energy. Transfers to, and vests in, the Administrator of the Federal Energy Administration all functions of the Secretary of the Interior, the Department of the Interior, and officers and components of that Department as relate to or are utilized by the Office of Petroleum Allocation, the Office of Energy Conservation, the Office of Energy Data and Analyis and the Office of Oil and Gas. Transfers to, and vests in, the Administrator all functions of the Chairman of the Cost of Living Council, the Executive Director of the Cost of Living Council, and officers and components thereof, as relate to, or are utilized by, the Energy Division of the Cost of Living Council. Empowers the Administration to promulgate such rules, regulations, and procedures as may be necessary to carry out the functions vested in him and to perform such other activities as may be necessary for the effective fullfillment of his duties and functions. Provides that final orders and actions of any official or component in the performance of functions transferred by this Act shall be subject to judicial review. Authorizes the Administrator to collect energy information from all persons owning or operating facilities or business permises who are engaged in any phase of energy supply or major energy consumption, and to require full identification of all data and projections as to source, time, and methodology of development. Imposes an affirmative duty on the Administrator to keep the public fully informed by publicizing information concerning energy shortages and supplies. Requires the Administrator to provide guidelines for the handling of information pertaining to individuals which shall, to the extent practicable, afford each affected individual access to information pertaining to himself. Prohibits sex discrimination under any activity or program carried out under this Act. Provides that, whenever the Administrator shall establish or utilize any board, task force, commission, committee, or similar group, not composed entirely of full-time Government employees, to advise with respect to, or to formulate or carry out, any agreement or plan of action affecting and industry or segment thereof, the Administrator shall endeavor to insure that each such group is reasonably representative of the various points of view and functions of the industry and users affected, including those of residential, commercial, and industrial consumers, and shall include, where appropriate, representation from both State and local governments, and from representatives of State regulatory utility commissions, selected after consultation with the respective national associations. Provides for an economic analysis of the impact of proposed regulatory actions. Makes provisions for the coordination of Federal and State energy programs. Requires the Administrator to establish and maintain an Office of Private Grievances and Redress. Provides that any persons, adversely affected by any order, rule, or regulation issued by the Administrator in carrying out the functions assigned to him under this Act, may petition the Administrator for special redress, relief, or other extraordinary assistance. Requires that, within ninety days after he has entered upon the office of Administrator or has been designated by the President to act in such office, the Administrator, or acting Administrator, as the case may be, with the assistance of the Department of Commerce, the Cost of Living Council, and the United States Tariff Commission, shall, by written report, inform the Congress as to the: (1) effect of current petrochemical prices upon the current level of petrochemical exports, and export levels expected for 1975; (2) effect of current and expected 1975 petrochemical export levels upon domestic petrochemical raw materials and products available to petrochemical producers, converters, and fabricators currently and in 1975; (3) current contribution of pertrochemical imports to domestic supplies and the expected contribution in 1975; (4) anticipated economic effects of current and expected 1975 levels of domestic supplies of petrochemicals upon domestic producers, converters, and fabricators of petrochemical raw materials and products; and (5) exact nature, extent, and sources of data and other information available to the Federal Government, including the exact nature, extent, and sources of such data and information utilized in connection with the report required by this Act. Requires that, within ninety days of the effective date of this Act, the Administrator of the Federal Energy Administration, in consultation with the Secretary of the Interior and the Secretary of the Army, shall: (1) transmit to the Congress a list of hydroelectric generating facilities and electric power transmission facilities which have been authorized for construction by the Congress and which are not yet completed, and a list of opportunities to increase the capacity of existing hydroelectric generating facilities; and (2) provide, for each such facility which is listed, a construction schedule and cost estimates for an expedited construction program which would make the facility available for service at the earliest practicable date, and a statement of the accomplishments which could be provided by the expedited completion of each facility and a statement of any funds which have been appropriated but not yet obligated. Authorizes and directs the Administrator to establish and maintain a file which shall contain information concerning every transaction, sale, exchange, or shipment involving the export from the United States to a foreign nation of coal, crude oil, residual oil, or any refined petroleum product. Sets forth the elements of information to be included in such report. Requires the Administrator to conduct a comprehensive review of foreign ownership of, influence on, and control of domestic energy sources and supplies. Authorizes the appropriation of $75,000,000 for fiscal year 1974, and $200,000,000 annually for each of fiscal year 1975 and 1976 to carry out the purposes of this Act. Provides that this Act shall terminate June 30, 1976.