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Discussion Starter · #1 ·
House OKs Penalties for Gas-Price Gouging

WASHINGTON (May 24) - The House of Representatives, eager to do something about record high U.S. gasoline prices in advance of a holiday weekend, voted narrowly Wednesday to approve stiff penalties for those found guilty of price gouging .

The bill directs the Federal Trade Commission and Justice Department to go after oil companies, traders or retail operators if they take "unfair advantage" or charge "unconscionably excessive" prices for gasoline and other fuels.

The White House called the measure a form of price controls that could result in fuel shortages. It said President George W. Bush would be urged to veto the legislation should it pass Congress.

The bill needed the approval of two-thirds of the members of the House because the leadership considered it under an expedited legislative process. Thus, the 284-141 vote was only one over the threshold for passage. A similar measure is being considered by the Senate.

The bill would for the first time create a federal law making energy price gouging illegal. It would cover not only gasoline, but also other fuels such as natural gas and heating oil.

Rep. Bart Stupak, a Democrat and its chief sponsor, in urging his colleagues to support the bill said the issue was whether "to side with Big Oil (or) ... side with consumers who are being ripped off at the gas pump."

But Stupak was forced to soften the bill so that he could get it passed by requiring a president to first declare an energy emergency before the anti- gouging law could be enforced. Oil-state Democrats had wanted such limits.

The bill calls for criminal penalties of up to $150 million for corporations and up to $2 million and a jail sentence of up to 10 years for individuals found to be engaged in price gouging .

Source: AP
 

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If the pres veto's that it's just showing the country how much he caters to the big corporations. It's a very much need law to help protect the little guy!!!!:crazyloco
 

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it wont do a thing, price will still stay high
 

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He will veto it because if you remember he owns or did own oil wells in Texas!
I must say he is the worst president that we never elected! :crazyloco
 

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Discussion Starter · #6 ·
I just read another article...and I guess Bush is expected to veto this so I guess we'll see what happens.
 

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Good luck with all that - IMO: it won't do much except maybe make some people think a little longer before jamming it to you on the price. They gotta prove them guilty first (right??)

People here in Canada have been screaming for gov't intervention for a long time. Some Provinces now have "regulated" gas pricing (and in most cases it's higher than where it's not regulated :scared ) I don't know about in the U.S. but here in Canada, the government takes in a whole pile more tax dollars every time the price goes up as the taxes are a percentage of retail pricing at the pumps. But then again; I don't really suppose the government or big oil is really trying to screw us - right?? :angry
 

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He will veto it because if you remember he owns or did own oil wells in Texas!
I must say he is the worst president that we never elected! :crazyloco
you have to be the first one to recognize (well at least that I have talked to) that we did not elect him! what a joke, he has to much money to support that, it might hurt his pocket, that and all his friends in suadi arabia would be disapointed, and that wont happen. thank god diesel is over .30$ cheaper than gas right now.
 

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I should also mention the fact that this whole occupation of Iraq is due to the fact that Saddam had a "hit" contract out on his father after the first war. So I think that all troops should be removed before more die and he should be put up on charges himself for the senseless deaths that have occured while he was on "power". :crazyloco
 

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I should also mention the fact that this whole occupation of Iraq is due to the fact that Saddam had a "hit" contract out on his father after the first war. So I think that all troops should be removed before more die and he should be put up on charges himself for the senseless deaths that have occured while he was on "power". :crazyloco
:clap :clap :crazyloco
 

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:clap
A very good first step. It still needs to get passed into LAW.

Then enforcement becomes the next hurdle of any actual action of anything productive getting done by our elected representatives.:thefinger

It's only a hope at this point. :angry Just another soundbite for congress, all talk and no action:rant . Hope this is an exception to that.
 
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