Oil Pipeline Regulatory Reform Act of 1988

[AI summary unavailable — showing source text] Oil Pipeline Regulatory Reform Act of 1988 - Amends the Department of Energy Organization Act to terminate Federal Energy Regulatory Commission (FERC) jurisdiction over oil and other pipelines except the Trans-Alaska Pipeline. Authorizes the Attorney General and any interested person to petition the Secretary of Energy (the Secretary) for an adjudication of whether Commission rate regulation of an existing pipeline in any market is in the public interest. Prescribes adjudication guidelines. Provides that pipeline rates for service to markets which are not identified in a mandatory published adjudications list will no longer be subject to FERC regulatory jurisdiction. Prescribes adjudication guidelines under which the Secretary shall find that regulation of a pipeline is in the public interest only if it is demonstrated that such regulation is necessary to constrain the exercise of substantial market power in the supply and demand of products transported by the pipeline in that market. States that new pipelines shall not be subject to existing Commission regulatory jurisdiction or rate regulation, but shall be subject to common carrier regulation under such Act. States that Commissi…