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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K - page 14 / 83

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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K

Our business is regu regulations relating t marketing, pricing, t also subject to exten regulations governing p

lated

by

certain

lo

  • o

    the exploration for,

ransportation and stor sive and changing e lugging and abandonmen

cal,

state

and

federal

laws and

and the development, age of, natural gas and

production, oil. We are

nvironmental

and

t,

the

discharge

safety laws and of materials into

we are

subject to

cha

enacted

tax

laws

can

the environment or

othe

modification of

existin

be

promulgated

under

adverse

effect

on

the

C

rwise nging

relating to envi

and

extensive

not be g, laws the Oil ompany.

predicted. T or regulation

Pollution

Ac

ronmental

protection.

In

addition,

tax laws,

and the

effect of newly

he

implementation

of

new,

or

the

s,

t

of

including regulations

1990,

could

have

a

which may material

FEDERAL, STATE OR LOCAL

REGULATORY MEASURES C

OULD ADVERSELY AFFECT OUR BUSINESS.

While the Federal Ener regulate the major port

gy Regulatory Commis ions of our operations

sion,

or FERC,

does not

directly

,

federal

regulation,

directly

or

indirectly, products.

As

influences

certain

a

raw

natural

gas

aspects of our business and the

gatherer

and

not

an

operator

market for our

of

interstate

transmission pipelines, we Natural Gas Act of 1938, but

generally are exempt from FERC regu

FERC

regulation

still

significan

business. regulation

In of

that

FERC

will

recent years, interstate nat

continue

this

FERC has pursued

pro-competition

ural gas approach

pipelines.

However,

we c

as

it

considers

proposals

revisions to

rules and

transportation

capacity.

allow

negotiated

rates

not

limited

proposals

and

to natural

gas

by rate policies

ceilings, pipe that may affect

lation under the tly affects our policies in its annot assure you by pipelines to line rate case rights of access

While state pub

lic utility c

local regulati

ons do affect

common purchase

r statutes in

generally requi

re gatherers t

production that

may be tender

purchaser stat

utes generall

discrimination

as to source

to prohibit dis

crimination in

source

of

suppl

effect

of

rest

y over another

ricting

our

r

co

ntract to

r

egulation

with whom we

purc

any economic

of r

discriminati

on, natural gas

handling. S

imilarly, common

to purchase

without undue

These statu

tes are designed

ommissions do not regulate our busi

  • o

    take, without undue

ed to the gatherer for y require gatherers of supply or producer.

ness, state and ratable take and le take statutes

our business. the states where

We we

are subject to

operate.

Ratab

favor of one producer over another

source of supply. ight as an owner of

These statute gathering faci

hase or transport natural gas. aw natural gas gathering to the

Fe sta

s

producer or one also have the

lities to

decide

deral law

leaves

tes,

and

some

of

the states in which economic regulation

we of

operat raw na

e have adopted complaint-based tural gas gathering activities.

o

r other

St

ates in

limited which we

operate Oklahoma,

that have adopted Kansas and Texas,

some form of complaint-based r generally allow natural gas produc

egulation,

like

ers

and

shippers

  • -

    12-

to file

complaints

with state

regu

relating

to natural

gas

gathering

acc

which we

conduct

operations

adminis

the Pipeline

Safety Act of

1968, and

statute

that

our gathering

facilitie

future.

The

"rural

gathering

exemp

Act of 1968 presently exempts from jurisdiction under that of cities, towns, or any area

substan statute designa

lators

in an effort to resolve

grievances

ess ter the

and rate discrimination.

The states in

federal pipeline "rural gathering

safety standards under exemption" under that

s

currently

enjoy

may

be

restricted

in

the

tion" tial

under the Natural Gas Pipeline Safety

portions

of

our

gathering

facilities

,

ted

including those

as

residential

portions located outside or commercial, such as a

subdivision

or

shopping

center.

OUR BUSINESS INVOLVES HAZARDOUS ENVIRONMENTAL REGULATION.

SUBSTANCES

AND MAY BE ADVERSELY

AFFECTED BY

and activities

to significan

t

These include

,

Many of the operations facilities are subject

laws

and

regulations.

of our gathering systems, plants and other

federal,

state and local

environmental

for

example,

laws

and

regulations

that

14

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