U.S. House passes bill to fight oil and gas price gouging

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The U.S. House passed a bill on Thursday that allows the U.S. president to issue an energy emergency declaration, making it unlawful for companies to excessively increase gasoline and home fuel prices.

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The bill must pass the Senate, which is unlikely, and be signed by President Joe Biden to become law. The legislation, sponsored by Democratic Representatives Katie Porter and Kim Schrier, passed the House 217 to 207, with no Republicans supporting it. In the Senate, evenly divided at 50 members in each party, 10 Republicans would need to support it for the bill to pass.

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Sounds like a step into national-socializing Utilities.

Can we not insist that to be elected to Congress, you must at least understand supply & demand?

Does this include the oil companies themselves?

Unfortunately, Manchin will make sure this never passes the Senate.

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U.S. House approves bill to take aim at gasoline 'price gouging'A closely divided U.S. House approved legislation Thursday to crack down on alleged price gouging by oil companies as prices at the pump continue to soar. The real price gouger is the Biden admin for killing the Keystone pipeline and stymying domestic energy productions.
Source: MarketWatch - 🏆 3. / 97 Read more »