Price Gouging

PRICE GOUGING -- (House of Representatives - April 27, 2006)

(Mr. LYNCH asked and was given permission to address the House for 1 minute.)

Mr. LYNCH. Mr. Speaker, today around the country we see rising prices for American consumers at the pump and for heating costs at home. As the price of gas has doubled, profits for Big Oil and gas companies have tripled, and while at the same time American families' incomes have remained stagnant.

Instead of additional handouts to big oil companies, we need to take steps to keep gas prices down. Simply put, we need to crack down on price gouging.

The Democrats have a good idea on this one. Congressman Stupak from Michigan has an anti-price-gouging bill that will not only address the issue of price gouging, but will also give Federal agencies the authority to prosecute oil companies engaged in such practices involving gasoline, home heating oil, and natural gas.

That is why I urge the Republican leadership to do the right thing. Bring this legislation to the floor. The American people cannot afford to wait any longer, and this Congress needs to act.

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