livingston
20×102mm Vulcan
Democratic lawmakers push for federal crackdown on high gas prices
WASHINGTON (AP) - Citing growing worries about high gasoline prices, Democratic leaders announced an effort Thursday to give the Federal Trade Commission increased authority to crack down on companies that engage in price gouging.
In doing so, they downplayed the possibility of other options such as a federal gas tax holiday or offering oil companies more government incentives to increase production. Instead, they said the FTC needs more tools, including stiffer fines and penalties and a team of dedicated experts to monitor markets and go after price gouging.
"There’s no excuse for big oil companies to profiteer, to price gouge or exploit families," House Speaker Nancy Pelosi, D-Calif., said Thursday
"Congress must do more to beef up the FTC’s ability to crack down on potential gas price manipulation and price gouging," added Senate Majority Leader Chuck Schumer, D-N.Y. When the Democratic bills reach the House and Senate floor, "Republicans will face a dilemma: Which side are they on?" Schumer said. "On the consumer and lowering gas prices? Or on the side of the big oil?"
Democratic lawmakers push for federal crackdown on high gas prices
Democratic leaders have announced an effort to give the Federal Trade Commission increased authority to crack down on oil and gas companies that engage in price gouging.
