Price Gouging On Gas Should Be A Crime
And It Looks Like It Might Be: An Antigouging Bill Voted
The House yesterday voted 284 to 141 to pass a bill that would make gasoline price gouging a federal offense. In the Senate, Democratic leaders were scrambling to introduce an energy bill, the first since they took control of Congress. A committee also held a hearing on whether oil industry mergers have contributed to higher fuel prices. Many Republicans seemed prepared to support the bill despite a White House veto threat. The 284 House members who voted for the bill included 56 Republicans.The legislation would give federal authorities the power during presidentially declared energy emergencies to investigate and prosecute anyone selling fuel at a price that is “unconscionably excessive” or “indicates the seller is taking unfair advantage of unusual market conditions.” The measure would give the Federal Trade Commission the power to investigate price gouging and punish violators.
