WASHINGTON (AP) The House has approved legislation providing criminal penalties against companies found engaged in gasoline price-gouging.When will the government arrest itself? Government makes more money on gasoline than the oil companies do...and the best part is that the government does nothing to produce the gas or deliver it where it needs to go.
UPDATE - Via email:
Congressman John Boehner (R-West Chester) released the following statement on the Democrats’ so-called Federal Price Gouging Prevention Act (H.R. 1252):NOTE: Federal Trade Commission (FTC) investigations as recent as the Spring of 2006 when the nation suffered supply shocks after Hurricanes Katrina and Rita found no evidence of gouging, just free-market supply and demand principles at work.UPDATE: By the way...conservative superhero-who-can-do-no wrong Steve Chabot...it was his bill.“Illegal actions that artificially increase the price at the pump for American consumers should be prosecuted to the fullest extent of the law. That’s a common sense principle shared by Members of Congress and Americans alike, and something Republicans have and will continue to advocate. This bill is all bark and no bite, and will do nothing to lower gas prices for consumers.
“Skyrocketing gasoline and home-energy prices hit the family budget like unforeseen tax increases, so the frustrations felt by American consumers today are both understandable and justified. No American likes paying high prices at the pump, but they don’t like being pacified or misled either, which is exactly what this bill attempts to do.
“Instead of advancing common sense, comprehensive energy solutions that increase American supplies of all forms of energy, this bill points fingers at a political boogeyman and imposes anti-free market price controls that will depress investment here at home, keep supplies tight, and send prices through the roof. As such, this bill could make the pain felt by consumers at the pump considerably worse.
“Americans understand that a balanced policy requires both an increase in American energy supplies to meet the needs of today and a sound financial commitment to drive the innovative research on fuels for the future. This is the only way to get the job done without causing harm to our economy, and exactly the kind of solution for which Republicans will continue to fight.”
UPDATE 2: Rumor has it that Ohio GOV Strickland is all peeved about gas prices too. But if you take a look at Rep. Ted Strickland's record, you'll find he's guilty of price gouging. Matt Naugle has a post over at RightAngleBlog that lays out the particulars of this exercise in hypocrisy.
