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In addition some wells produce condensate liquids and condensate fuel which must be separated via gasoline plants. The query is how a lot of the expense of exploration, operation, and براندات مول so forth., of wells should be chargeable to gasoline. Why the consumer ought to pay on these items, significantly 'dry holes' ($11,306,964), expired and surrendered leases ($9,479,898) and undeveloped offshore leases ($17,765,332) is a matter for the consultants; nevertheless it appears to me that since Phillips charged off the dry holes in its taxes and the consumers received nothing whatever in 1954 from expired and surrendered leases and undeveloped offshore leases, such expense should not be included in the speed base. Exploration and improvement, depletion allowance, allocation and interest costs.-Exploration and improvement expense for 1954 on the books of the company was $47,474,039, together with undeveloped lease rentals, drilling instruments, expired and surrendered leases, dry holes and land and geological actions. However, depletion is allowed as an incentive to exploration and definitely its financial savings ought to be deducted from Phillips' whole expense in this regard. He directed and Phillips filed a preliminary fee per Mcf.

24 F.P.C., at 576, although they various from 5.5¢ per Mcf. Five years later the Presiding Examiner decided Phillips' 1954 price of service to be 11.662¢ per Mcf. The Court there charged the Commission with supervision over Phillips' working expenses, each producing and gathering, and directed the Commission to fix a simply and cheap price for the sale of Phillips' gasoline. Because the Court has identified, the Commission terminated not only the § 5(a) proceeding but additionally 10 consolidated § 4(e) proceedings in opposition to Phillips, the latter on the bottom that the income acquired by it for the periods concerned was less than value of service. Nevertheless the Commission held to the opposite and, in addition, issued the statement of coverage and accompanying value ranges with out notice, hearing or document and has since amended them a number of times in like method. Concurrently with this motion the Commission issued sua sponte a statement of General Policy No. 61-1, 24 F.P.C. Still the Commission has allocated nearly one-third of the exploration price to gasoline, which only brings in one-seventh of the mixed income. This was slightly extra sensible, however nonetheless required girls to sacrifice motion and consolation in order to achieve a fashionable shape.

Options embrace combined prints and coloration-block designs in pullover styles or the more classic zip-ups we've all come to know and love. Isn't it wonderful how some frequent things which we already know but by no means discover and they'll actually assist in transforming your complete look? You'll be able to style it over a printed tee and leave it unbuttoned or tie it to the waist for a more road look. The Examiner, contrary to the Commission, had discovered the associated fee method not only more correct but totally possible and, as compared with the realm technique, no more delaying. 11%. It discovered Phillips' jurisdictional revenues substantially much less in 1954 than these allowables and, contra to the advice of the Examiner and its own workers, it terminated all save two of the § 4(e) proceedings, discharged Phillips from additional refund obligation thereunder and dismissed its personal § 5 investigation of those and subsequent rates overlaying some 95 substantial fee increases made by Phillips. It discovered Phillips' 1954 value of service to be 11.1009¢ per Mcf. Phillips used a B.t.u. The events themselves, including Phillips, concurred in the conclusion that Phillips' rates ought to be decided by the Examiner on the basis of its over-all value of service.

I shall now provide just a few examples within the Commission's charge-base calculation of 1954 that assist this conclusion. As a consequence the shoppers of fuel all around the United States and notably in the large metropolitan cities of the Eastern Seaboard, the Midwest and the West Coast can pay for the Commission's space pricing wildgoose chase. In addition, the likelihood that the Court's affirmance will be thought to be an approval of those highly questionable standards for price-of-service determination, thus fostering their software in different circumstances, calls for dialogue of them. In view of this disposition it is important, except for the contention that there was no basis for dismissal of these proceedings masking years subsequent to 1954 on that 12 months's findings, for us to examine the premise of its price-of-service findings for 1954. The dismissal orders are all predicated upon the 1954 cost of service and if or not it's erroneous the whole foundation for the orders of dismissal falls. In this abstract trend the Commission junked its value-of-service regulation program, wasted a half-dozen years of work thereon and is now experimenting with a brand new, untried, untested, inchoate program which, as well as, is of uncertain legality.

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