Representative Heather Wilson: “times of tragedy should not be windfalls for opportunists in the wake of Hurricane Katrina gas prices fluctuated to…”

“times of tragedy should not be windfalls for opportunists in the wake of Hurricane Katrina gas prices fluctuated to upwards of $6.00 in some communities. Prosecution for price gouging is generally a state matter unless it involves some form of collusion or other activity in violation of federal laws. Only 23 states have anti-gouging laws on the books, and definitions vary widely. Only 13 of those states have emergency anti-gouging laws. The aftermath of Hurricane Katrina has shown that the patchwork of state anti-gouging laws does not work to deter opportunists. While the Federal Trade Commission (FTC) monitors gas prices and investigates possible antitrust violations in the petroleum industry, there is no federal law to prohibit price gouging by individual bad actors. I welcome H.R. 3893 the Gasoline for America's Security (GAS) Act of 2005 price gouging language. It incorporates penalties of up to $11,000 per violation and covers retail and wholesale sellers of crude oil, gasoline, diesel fuel and home heating oil. The GAS Act Requires the FTC to enact a price gouging definition as soon as possible within six months, an improvement from the potential delay in the language reported out of Committee. The House should pass a strong price gouging law that would be in effect in disaster areas. This bill includes a strong national policy providing stiff penalties for gasoline price gouging. Times of tragedy should not be windfalls for opportunists.…”