Senator JOHNSON. Just this one other question: Do you think the change of one member of the Commission might very well change the Commission's position in this whole field? Mr. OLDS. I think that the change in the personnel of the Com mission always may Senator JOHNSON. It is a 3-to-2 Commission now? Mr. OLDS. It is a 3-to-2 Commission. Senator MYERS. Do you think he needs counsel? [Laughter.] Suppose there is a vacancy on that Commission, and suppose the next man appointed to that vacancy should side with the two mem bers, then we would have a different policy, would we not? Mr. OLDS. That would be the case; yes, sir. Senator JOHNSON. All right. Then, in the light of that uncer tainty, do you not think that Congress ought to pass some legislation making it abundantly clear what they want done in this bill? Mr. OLDS. I think the Congress, the way it deals with this bill will make it abundantly clear, and I hope that they do so; yes, sir. Senator JOHNSON. Now, one other question: If the Federal Power Commission controls prices in the field, do you think those prices should be raised or left as they are, or lowered? Mr. OLDS. I do not think that you can deal with it in that general I think that certain prices that are being established today but that have not gone into effect because the pipe lines that would buy the gas have not yet been in a position to activate their contracts may require investigation. Senator JOHNSON. I assume you do not think that that would be true today or you would do something about it. Mr. OLDS. I do not think the average price of gas today is too high. Senator JOHNSON. And you think it certainly can stand some raising even under the Commission's jurisdiction? Mr. OLDS. I think the average price; but I think the average that you will get by 1952 may be a totally different average, and I think, as these new pipe lines and additional capacity are built, based on these new contracts, you can have situation where the Commission will have to look into it. Senator JOHNSON. So it may be necessary for the Commission to exercise its authority, at least by 1952, in order to lower prices. I Mr. OLDS. I should say it may even be necessary before that, I do not know. Without an investigation of specific price situations, could not give you an answer. Senator JOHNSON. Senator Myers. Senator MYERS. I was just going to ask the Commissioner if he has yet had time to obtain for me the information which he was asked for earlier in these hearings, namely, the statistics as to the average price being paid for gas by natural-gas companies which purchase all of their requirements from independents, and the average price paid by natural-gas companies who purchase only a portion of their requirements from independents. Mr. OLDS. I have not that with me yet, Senator; I am having that prepared, and will furnish it to you. Senator JOHNSON. You will furnish it for the record? Senator MYERS. I have no other questions. Senator JOHNSON. Senator Reed? Senator REED. I have no questions. Senator JOHNSON. All right, Mr. Commissioner, thank you. At this point in the record we will insert all of the documents attached to your prepared statement. (The documents referred to follow:) |