Natural Gas Production, Utilization, and Conservation Act

[AI summary unavailable — showing source text] Natural Gas Production, Utilization, and Conservation Act - Title I: Removal of Artificial Impediments on Natural Gas Usage - Repeals the Powerplant and Industrial Fuel Use Act of 1978. Terminates the incremental pricing requirements of the Natural Gas Policy Act of 1978 (the Act). Repeals provisions of the Public Utility Regulatory Policies Act of 1978 relating to retail policies for natural gas utilities. Title II: Incentives for Increased Natural Gas Production - Provides for the decontrol of all first sales of natural gas, effective January 1, 1985. Sets forth ceiling price levels affecting specified sales prior to the 1985 decontrol. Repeals standby price control authority. Provides that effective January 1, 1985, provisions of the Act relating to the interstate sale of natural gas shall not apply to any first sale of gas committed or dedicated as of the day before enactment of this Act. Provides that prior to January 1, 1985, those same provisions of the Act shall not apply to any first sale of natural gas which was committed or dedicated to interstate commerce as of the day before enactment and which is: (1) high cost natural gas; (2) new natural gas; (3) natural gas produce…