1954 · Milestone
Phillips v. Wisconsin — FPC regulates wellhead gas
The Supreme Court held that natural gas producers selling into interstate pipelines were subject to Federal Power Commission rate regulation—beginning decades of federal wellhead price controls later unwound by NGPA and decontrol acts.
Historical era
Petroleum age (1950–1972)
Petroleum became the most-consumed U.S. energy source in 1950 and fueled transportation-led growth.