The FERC oversees the interstate commerce surrounding oil, energy, and natural gas.
This regulation and oversight might deal with pipelines and storage facilities, permits for future exploration sites, environmental and safety concerns with projects, as well as the sale and transfer of these commodities. FERC deals with the companies engaged in the extraction, transfer, storage, and sale of energy and energy-related resources.
It has transparency standards that encourage the public as well as the companies being regulated to see and take part in their processes. Its mission statement is to help consumers obtain reliable, efficient, and sustainable energy at a reasonable cost. It is an independent government agency.
There are many areas that are closely related to its mission but that do not fall under its directive. For example, it oversees merger and acquisition activity for electrical companies, but not for oil and gas companies.
One of its main goals is to prevent market manipulation among the companies involved in the energy sector.