Federal Energy Price Protection Act of 2006

FEDERAL ENERGY PRICE PROTECTION ACT OF 2006 -- (House of Representatives - May 03, 2006)

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Ms. SCHAKOWSKY. Mr. Speaker, I want to thank the gentleman from Michigan for his great leadership to try and help consumers to bring the price of gasoline down.

Mr. Speaker, gasoline prices have doubled since the Bush administration took office. On Sunday, Secretary Bodman declared there was an energy crisis in this country, and the Republicans are scrambling to play catch- up.

Since last September, Speaker Hastert has blocked action on Congressman Stupak's bill, which would impose tough criminal penalties on oil and gas companies that engage in price gouging. Congressional Republicans have consistently voted down efforts to give the FTC new authority to prosecute companies that price gouge. Instead, Republicans passed an energy bill which the Energy Information Administration said would raise gasoline prices, and it has.

Last Tuesday, President Bush called on his administration to investigate possible price gouging, even though the FTC was completing a report on price gouging that Congress requested last year. Then, on Friday, the President said, ``I have no evidence that there's any rip-off taking place.'' Think back to the investigation.

Is it any wonder, Mr. President, that Americans are skeptical that you are serious about investigating your Big Oil buddies? On Friday you said, ``It's the role of the FTC to assure me that my inclinations and instincts are right.''

Was that an order for a rubber stamp, Mr. President? No wonder the American people are a bit skeptical, Mr. President, that your oil-dominated administration will work to protect them or, once again, to protect the oil and gas companies, but we need to begin with a serious investigation of those oil companies. I hope that you are really serious.

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