Bart Stupak: “I agree with him, we need to have a short-term and long-term strategy. And as the former chairman of the Energy and…”

“I agree with him, we need to have a short-term and long-term strategy. And as the former chairman of the Energy and Commerce Committee, my friend Mr. Barton knows that this is my third bill we have had on price gouging. And the reason why we have it is short term, like in Midland in 2005 where gas went up 75 cents in one day, that is price gouging. Or in Escanaba, you wake up and it is 30 cents in one night. What happened in that one night? Or if you take a look at it, the reason why we need a Federal law, because as we see in the bill it is wholesale. So when refineries increase their prices 255 percent from September 2005 to September 2006, for a State like mine to enforce a price gouging legislation we need a Federal law to help them out. And the Presidential emergency the gentleman brought up; we need that because, as you know, before Hurricane Katrina gas went up over $5 a gallon before the hurricane even struck. Therefore, you need a President who can step forward and say that is excessive, that is not necessary in this region, we will keep gas prices at a reasonable price.”