Bart Stupak: “I am pleased to offer this motion to recommit with my friend and colleague from South Dakota (Ms. Herseth). Our motion…”

“I am pleased to offer this motion to recommit with my friend and colleague from South Dakota (Ms. Herseth). Our motion instructs the Federal Government to crack down on price gouging and provides tough Federal penalties for those guilty of gas price gouging. Even before the devastation caused by Hurricane Katrina, skyrocketing oil and gasoline prices were taxing American families and burdening our Nation's economy, with the notable exception of the oil industry, which continued to rack up record profits. Following Katrina, gas prices in some areas of the Nation reached almost $6 per gallon, deepening suspicions of the oil and gas industry profiteering. We need a Federal standard to ensure adequate response to energy emergencies that prohibit price gouging with the priority on refineries and big oil companies. Currently, only 28 States have price gouging laws on the books and have enforcement mechanisms to go after those found ripping off consumers. At the Federal level there is no oversight to protect consumers from this predatory pricing. No American should have to pay too much for gas because the oil companies are rigging prices. Our motion to recommit will outlaw the selling of crude oil, gasoline, home heating oil, or natural gas at predatory or unconscionably excessive levels during such a crisis.…”