It permanently repealed wellhead price controls beginning on January 1, 1993.

[1] By means of Senate bill 783, the NGWDA was amended to eliminate wellhead price and nonprice controls on the first sale of natural gas, and to make technical and conforming amendments to the NGWDA.

[2] In the Federal Energy Regulatory Commission (FERC) hearing Corinne Grace v. El Paso Natural Gas (1990), FERC states its reservation about this type of law being used to the detriment of oil and gas operators with limited resources to defend themselves from cancelled contracts by large pipeline companies.

Congress, in refusing to learn from history, may have doomed the natural gas industry by repeating past mistakes.

Alfred Kahn, in discussing the dismantling of the Civil Aeronautics Board, said that a short transition from regulation to free market is desirable in order to limit the distortions of the transition.