Mr. Justice CLARK:
This is another of a series of cases beginning a score of years ago and continuing through 1969, in which Panhandle Eastern Pipe Line Company, a major interstate pipeline system, has opposed the effectuation of the long-established policy of the Federal Power Commission "to favor service to industrial customers by local distributors." Panhandle Eastern Pipe Line Co., Op. 274, 13 FPC 301, aff'd, Panhandle Eastern Pipe Line Co. v. FPC,
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