Bowing to Public Pressure, House Conservatives Back Crackdown on Gas Price Gouging
Bowing to Public Pressure, House Conservatives Back Crackdown on Gas Price Gouging
Ninety percent of Americans, including members of Congress from both parties, say they believe price gouging is occurring at the pumps. (Recent studies suggest they’re right.) After months of ignoring legislation that would have protected consumers from illegal price hikes, conservatives bit the bullet today:
The U.S. House of Representatives Wednesday passed a bill that bars energy companies from price gouging but failed to pass a bill that would speed up the process to build new refineries for gasoline, biofuel and diesel.
The bill, which passed by a 389-34 vote, imposes criminal penalties up to $150 million and up to two years in jail for those found guilty of price gouging. The bill sets civil penalties at three times the “ill-gotten gains” plus up to $3 million per day of the violation.
The bill, modeled after legislation put forward by Rep. Bart Stupak (D-MI), is an important first step. But even if it becomes law, cracking down on price gouging will still require aggressive action by the Bush administration, specifically the Federal Trade Commission. Unfortunately, the Bush-appointed chair of the FTC is Deborah Majoras. Her previous job experience: representing Chevron-Texaco and “other major oil and gas interests.”
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About freakin’ time!!!
May 3rd, 2006 at 8:30 pmUnfortunately, the Bush-appointed chair of the FTC is Deborah Majoras. Her previous job experience: representing Chevron-Texaco and “other major oil and gas interests.â€
There is no such thing as justice in this Administration.
May 3rd, 2006 at 8:31 pmIt is a start but don’t hang up the bicycle yet. If the whole Bushco were impeached it would be easy to collect. We might even get back some of what Queen George the Dumb has squandered on his Daddy’s buddies. For a list of QGtD’s accomplishments just click on Clyde. Let’s put another star on his chest or feather in his hat and make him the first President to move from Washington, DC to Fort Leavenworth, KS.
May 3rd, 2006 at 8:34 pmIf any oil company executive is charged under this law during the Bush (read: petroleum) administration, I will eat my hat. What a joke, from the same administration that has basically stopped enforcing regulations related to the forestry industry, coal industry, mining industry, and automobile industry. The must think we’re too dumb to see through this sham.
May 3rd, 2006 at 8:37 pmSo what? “Price gouging by oil companies is now illegal!!” Hasn’t it always been that way? They’ve just never done anything about it. An I guess they’re not about to break that rend.
http://www.lcoliberal.blogspot.com
May 3rd, 2006 at 8:37 pmMoussaoui spared. Common sense at last.:
Right now on LCL
It is a start but don’t hang up the bicycle yet.
Comment by Clyde the Ripper
Hey Clyde,
Have you heard the Stephanie Miller Show?
Jim Lord, the voice guy, does a killer Bush impersonation, and talks about wanting to “ride my bicycle” ala the song by Queen.
It’s worth a listen, if you have a chance.
May 3rd, 2006 at 8:39 pmUnfortunately, the Bush-appointed chair of the FTC is Deborah Majoras. Her previous job experience: representing Chevron-Texaco and “other major oil and gas interests.â€
If this Deborah bitch doesn’t want to do her job then lets hold her accountable.
Hey Deborah, you lazy overpaid Bushwhore, we will be suing you personally if you refuse to do your job!
May 3rd, 2006 at 8:56 pmOnce again, 9% profit margins, basically unchanged thru all of last year, and only up 2 percent or so on average since 2000.
May 3rd, 2006 at 9:04 pmhold on here…
i don’t mean to be clintonesque here, but, it depends on what the statute/bill defines ‘price-gouging’ as.
the price of the underlying commodity, oil, is being set non-artifically by the market, so, conservatives will argue, as they always do, the market is setting the price and the exxons are merely passing that along…
this is not a victory, really. they will hold their hearings and/or get the ftc to say, ‘no, no price-gauging here…move along….nothing to see here’ and then the republicans can take the HIGH GROUND and say ‘hey, we checked, we invesitgated, we held hearings…blah blah blah’
never NEVER trust these republican bastards. all they know is to lie….
peace.
May 3rd, 2006 at 9:12 pmYeh its a beginning.
May 3rd, 2006 at 9:23 pmI’m gonna hope they enforce themselves as well.
Duh of coarse price gouging is occuring at the pumps, but not by the gas station owners > the Oil Cartel CEOs are swindling the American consumers for profits! Congress is only reacting because citizens are calling them up cussing them out!
May 3rd, 2006 at 9:29 pmIf PC sellers followed the same path as the petroleum industry, you would be paying $12,000.00 for a single floppy 8086 system with a mono display and 64K or RAM. Throw another $9000.00 for a 30MB hard drive and you would have the ideal system. And don’t forget the 4.8 Kilo baud modem.
May 3rd, 2006 at 9:30 pmHow can Man sell
May 3rd, 2006 at 9:39 pmWhat is not his
How can man sell
That what gives him life
Would man steal the gold
From thy mothers neck
How can man prostitute thy womb
How can man rob his mothers grave
Dig into her soul and take with glee
Why do you do this to her
Hath she not cried o’er your land
hath she not rocked you in her hand
given you seasons cold and warm
Why do thou hate thy mother?
Appreciate what take granted
O’ man your path is long
Make not this sad song
Know You Man
Covenant of Three
Is only that
What supports thee
9% profit… who gives a cr*p. That doesn’t mean anything. What about $400,000,000 retirement packages… that’s before profit. What about $2,000,000,000 in federal tax credits? What about subsidies from the federal government? We should stop the corporate welfare for big oil companies–they should be able to stand on their own, that’s a bedrock principle of the free market in America.
May 3rd, 2006 at 9:47 pmI f we could just get exon to buy the sun we wouldn’t have to worry about gas and oil .
May 3rd, 2006 at 10:03 pmthis is rather interesting. the american enterprise institute, an ultra-right wing extremist group, characterizes the ethics bill as:
…worse than a bad joke. In the face of the scandals now gripping Congress, it is a farce.
this is actually about 400 times stronger than the rather soft piece in the nyt!
go figure. up is down and down is up, once again.
May 3rd, 2006 at 10:09 pmSo, a Bush-appointed, former oil industry exec. will be in charge of investigating suspected “price gouging” allegations? More useless legislation, purely for “show”. Gotta keep those campaign contributors happy, happy, happy!!!
May 3rd, 2006 at 10:18 pmPost 17 the Masons themselves are not so bad > my grandfather was one > he is long dead! The Bush family are involved in a Satanic spin-off of the Masons called “Skull and Bones,” and Sen. John Kerry is a Bonesman too! That group needs to be outed completely!
May 3rd, 2006 at 10:45 pmWhatever this thread is about it’s all Clinton’s fault.
May 3rd, 2006 at 11:23 pmCan’t wait to see Bush’s signing statement if this ever reaches his desk. Enforcement? Ha!
May 3rd, 2006 at 11:27 pmMy scumbag of a congressman voted against this bill. Is your representative on the yeah or nay side? Here’s the roll call:
http://clerk.house.gov/evs/2006/roll115.xml
May 4th, 2006 at 12:05 amNo new comments yet huh > must be too early in the morning? Back to bed to dream of Bush eating more pretzels > lol.
May 4th, 2006 at 7:18 amIt’s just ceremonial. Pass a virtually unenforcable law to appease the sheep.
When they start using the law, I’ll believe they are, at least, somewhat serious. But after that ‘reform’ bill yesterday, I will remain skeptical and doubtful.
May 4th, 2006 at 7:33 amI want to learn something, and I hope knowledgeable people will help. We keep hearing the oil execs say that “the market†sets the price and they just follow it. Sounds convenient, but who exactly is “the market� We are told that it’s because oil is trading at $75+/bbl that we’re paying so much at the pump, but precisely who is it that is paying that $75+? Who do they work for? How old are they? Are they a bunch of twenty-somethings on the floor of the NYSE that are paying that price? There’s a lot of blame-shifting going on by the oil companies, but are the people responsible for the high price we pay really working for them? I don’t know, but it would sure explain a lot of they do.
As for the ridiculous bonuses paid to the chairmen, I have to ask what they did to deserve it? It can’t be because the company was so profitable under their stewardship, because they claim the huge profits are not their fault! They say “the market†sets the price of oil, and they are obviously passing along more than just the cost increase to us because in the end, they wind up with even higher profits than before. They say they aren’t manipulating the price of oil, but they are willing to “reward†their CEOs when the company makes a lot of money. Well if it’s not his doing that they’re making a lot of money, then why are they giving him such outlandish rewards? He didn’t do it! They told us that themselves!
May 4th, 2006 at 8:01 amWayne, the oil companies often create artificial supply bottlenecks by lowering how much they refine. The rules of supply and demand don’t apply when it comes to them. Squeegeeboo keeps saying they have a 9% profit margin and have for a long time. I am wondering if he thinks it is odd that it is so even while every other industry fluctuates.
May 4th, 2006 at 8:19 amOnce again, 9% profit margins, basically unchanged thru all of last year, and only up 2 percent or so on average since 2000.
Comment by squegeeboo
Looks like squeeze has been drinking the koolaid again.
May 4th, 2006 at 8:27 amIt can’t be because the company was so profitable under their stewardship, because they claim the huge profits are not their fault! They say “the market†sets the price of oil, and they are obviously passing along more than just the cost increase to us because in the end, they wind up with even higher profits than before.
Comment by Wayne A. Schneider — May 4, 2006 @ 8:01 am
How cool would it have been if Matt Lauer actually had a brain and had been able to ask those sort of tough questions?
These days, they’re only on television because of their looks. And frankly, they could do much better looking than Mr. Lauer.
Excellent question Wayne. Keep up the thinking. I’m beginning to wonder if CNN and other ‘think tanks’ don’t wander through blogs like TP looking for intelligent questions and leads sometimes…
May 4th, 2006 at 8:28 am#14 And “benefits” is only “money in pocket”. Big corporations generally play with numbers, and do investments to reduce present benefits (money in pocket), and maximize future gross income, to invest more, because taxes are based greatly in “benefits”.
May 4th, 2006 at 8:28 amLooks like squeeze has been drinking the koolaid again.
Comment by Joe Sixpack — May 4, 2006 @ 8:27 am
I think he gets it shipped to him in cases… you know, for the discount :)
May 4th, 2006 at 8:29 amHigh gas prices take a toll on businesses
These small-business owners are not only feeling the pain at the pump, their companies are losing steam.
By Jessica Seid, CNNMoney.com staff writer
May 4, 2006: 6:42 AM EDT
NEW YORK (CNNMoney.com) – With gas prices near record highs, some small-business owners are getting pummeled at the pump.
Roland Kelley, the CEO of Fast Action Moving, a moving and storage company based in San Diego, says it’s been hard to adjust to the cost increases.
Stan Houston runs an insurance agency in rural Enterprise, Ala., where gas costs $2.89 a gallon. Meeting clients and doing home inspections requires a lot of time on the road and Houston averages about 900 miles a week behind the wheel.
To fill the tank of his Ford F-150 costs Houston approximately $70, which he must do at least three times a week, not counting weekends.
“My gas budget has more than tripled and I am now unable to expand my business like I had planned to do.”
http://money.cnn.com/2006/05/03/smbusiness/gas_pains/index.htm?cnn=yes
May 4th, 2006 at 8:47 amThis is another “sham” legislation that was passed. Since they don’t have an actual example and definition of what a “price gouge” is, they won’t bother to get anybody for anything. They’ve been doing it for years, they accuse and don’t get anyone and hope no one notices. Same here, with conservatives: “Look, look what I did, I voted to crackdown on Gas Price Gouging, vote for me”.
May 4th, 2006 at 9:07 am#33
May 4th, 2006 at 10:27 amWhy does an insurance agent who travels 900 miles a week drive a freakin’ huge F-150?!
The oil industry appears that it either needs nationalized or at the least have government regulation. But that would mean that some King Georg fat cat wouldn’t get a $400 million retirement settlement.
May 4th, 2006 at 11:15 amWhat possible logic does anyone have to keep saying “we need more refineries built: when oil companies are going out of their way to close down the refineries they have now.
Instead of building new refineries force the oil companies to re-open those that have been closed.
I think the whole reason the oil companies want new refineries is because fixing older units would take their money while they will probably get handouts and subsidies to open new ones. Screw them. Politicians need to grow a backbone and put their foot down. Hell, they should take away all the handouts they’ve already given to big oil…but that is another issue altogether.
May 4th, 2006 at 11:31 amWhy does an insurance agent who travels 900 miles a week drive a freakin’ huge F-150?!
Comment by Terry — May 4, 2006 @ 10:27 am
Because he can? I don’t know. Just the messenger…
May 4th, 2006 at 12:22 pmFor all envious whiners who are crying about “obscene” pay packages for CEO’s – stop whining and take action. Buy stock in the “evil” company – after all, CEO’s answer to shareholders.
Terry – How typically prog-like of you to wonder why someone chooses a vehicle other than the model you would choose. Maybe he hauls kids sports equipment for his childrens teams – maybe he uses the truck for a part-time business. What business is it of yours?
May 4th, 2006 at 1:50 pmThe Postal Service is going to raise the price of a stamp because of these criminals. High gas prices affect everything and anyone with a brain understands this.
Hey stupid republicans, get a brain already, we’re losing our patience with you.
May 4th, 2006 at 1:53 pmWe aren’t committed yet as a Nation to getting off of our oil addiction. We are not committed to fuel efficient cars or alternative energy. It is our Governments job to provide passion behind the vision and push down the powerful money that is stopping us from making positive progress.
Most of us as individuals can’t afford to just throw money away to buy a fuel efficient car and then have the auto makers and oil industry screw us over by leaving us on the side lines for whatever excuse they feel like coming up with. We want these cars, but consumers are concerned if the Nation isn’t behind the transistion that has to change forever, they’ll be poorer for it (sort of like Santorum not willing to put the money on the line to act ethically). We have to make these fuel efficient cars affordable and be committed to supporting them. This is the way of the future, and the dinosaur oil industry is milking us for every last drop it can.
May 4th, 2006 at 2:21 pmRight on Jack!
May 4th, 2006 at 3:02 pmWe aren’t committed yet as a Nation to getting off of our oil addiction. We are not committed to fuel efficient cars or alternative energy. It is our Governments job to provide passion behind the vision and push down the powerful money that is stopping us from making positive progress.
The governement’s job isn’t provide passion… if anything they try to stifle it nowadays to make money off of it… I don’t think i would have much passion to do much of anything if you tax the hell out of me. It is never the job of government to fund private industry. Hence the debate of stem cell research. If it is so revolutionary and promising, where is the private funding to do it on it’s own, Mr. Soros? They can encourage quite easily but not taking my money for pork and other peoples mistakes….. Private investors, individuals have been the ones to invent and develop… you stifle those people to take risks today because they have no incentive to do so.
You aren’t going to push down “powerful money” not with the 527’s etc… problem is politicians don’t have to have a complete conscious to the people because they are worried about funds for realection… you want to take the money out of politics… pay politicians more more money… lobbyists would be forced to go under…. Not to mention a regular Jguy could actually run and win, which used to happen in our history.
May 4th, 2006 at 4:31 pm#39
Terry – How typically prog-like of you to wonder why someone chooses a vehicle other than the model you would choose. Maybe he hauls kids sports equipment for his childrens teams – maybe he uses the truck for a part-time business. What business is it of yours?
Comment by mighty aphrodite — May 4, 2006 @ 1:50 pm
I’m just saying it’s not a very smart BUSINESS decision to drive a gas hog if you log 900 miles a week. If he needs to haul serious cargo that milage then I can see having a big truck but not if he’s just meeting clients and doing home inspections.
May 4th, 2006 at 6:11 pmYou liberals are always forcing us to do whats right when we want to support big oil and hurt the little guy. What is this country coming to when the Republican party supports the average Joe. Don’t you liberals know we are for Big Oil and we keep fooling those moron in the South to keep voting for us even though we wouldn’t let them into our Country Clubs?
May 4th, 2006 at 8:25 pmC-Caucaian O-Overpaid N-Non tolerant S-Stupid E-Evangelical R-Racist V-vicious A-Activist T-Too Rich I-Ignorant V-vagrant E-Entrenched C O N S E R V A T I V E!
May 4th, 2006 at 8:33 pmC-Caucaian O-Overpaid N-Non tolerant S-Stupid E-Evangelical R-Racist V-vicious A-Activist T-Too Rich I-Ignorant V-vagrant E-Entrenched C O N S E R V A T I V E!
May 4th, 2006 at 8:33 pmHow do you spell Conservative? C-Caucaian O-Overpaid N-Non tolerant S-Stupid E-Evangelical R-Racist V-vicious A-Activist T-Too Rich I-Ignorant V-vagrant E-Entrenched C O N S E R V A T I V E!
May 4th, 2006 at 8:36 pmYou liberals are always forcing us to do whats right when we want to support big oil and hurt the little guy. What is this country coming to when the Republican party supports the average Joe. Don’t you liberals know we are for Big Oil and we keep fooling those moron in the South to keep voting for us even though we wouldn’t let them into our Country Clubs?
Wow, glad you “northerners” have such a high regard of those in the south… hmm must be reflective why kerry couldn’t carry the south. Simply put… southernerns can’t stand vascilators.
May 5th, 2006 at 9:21 amNext get your facts straights before you try to hurt yourself in spelling it…. the one you all love to through is “RACIST”. My, my has that word lost meaning… would you like to knwo the history of the republican party and race? All nicely cataloged in wikipedia for those incapable of reading a book because they are too busy spelling….
here are some highlights:
1862 President Abraham Lincoln is the first president to meet with a group of black leaders
1864 The Republican National Convention makes the abolition of slavery a plank in its platform
1868 Oscar J. Dunn becomes Lieutenant Governor in Louisiana (R)
1870 Hiram R. Revels is elected to fill U.S. Senate seat formerly held by Jefferson Davis (R)
1884 John R. Lynch is the first African-American to preside over the Republican National Convention; gives the keynote address
1960 Jackie Robinson, the first black Major League Baseball player, endorses Nixon for President
James B. Parsons is named Chief Judge of the US District Court in Chicago, the first African-American to hold such a position (R)
1980 NAACP President Benjamin Hooks is invited to address the Republican National Convention
President Bush appoints General Colin L. Powell as Chair of the US Joint Chiefs of Staff
2001 President George W. Bush appoints General Colin L. Powell as the Secretary of State; Roderick R. Paige as the Secretary of Education; Condoleezza Rice as Advisor of the National Security Council; Alphonso Jackson as the Deputy Secretary to Housing and Urban Development; Claude Alien as the Deputy Secretary of Health and Human Services; Leo S. Mackay, Jr, as the Deputy Secretary of Veterans Affairs; Larry D. Thompson as the Deputy Attorney General; and Stephen A. Perry as Administrator of General Services Administration
Oh and when MLK regestered to vote because he had a dream about people being judged by the content of their character and not by their skin (see affirmative action)… it was Republican
So that takes the Caucasian, Race and Non tolerant..out. I think maybe you all miss that because we as conservatives and blacks don’t have time to whine and complain and demand other peoples money to appease us….
Overpaid? The richest U.S. Senators are Democrats…
Stupid? The welfare state created by the annointed left… that was stupid… look what it has done to black…
Evangelical? You are so afraid of people of convictions no wonder you wanted Kerry. Never mind the more shrill the extreme left gets, the more evengelicals stand firm… you all made them by virtue of your own intent on imposing your own values and ideas (whatever they are, particualrly the youth) on people via courts not elections via the people.
Vagrant/ Viscious? who was slashing tires of the opposing party’s buses, hitting police officers? Jesse Jackson, Al Sharpton, Patrick Kennedy whose story is modified and gets preferential treatment in 14 hours (never mind his checkered history). What were you all saying about Cheney?
I hate to compare body counts but think before you leap.
May 5th, 2006 at 10:24 amford houston
In Europe, much the same would happen. Brazil’s ethanol program provides about 20% of the nations automotive fuel needs, including
April 1st, 2008 at 12:12 amford houston
Although various pistonless rotary engine designs have attempted to compete with the conventional piston and crankshaft design, only
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