John Hall: “Apparently, the old adage that what goes up must come down does not…”

On the recordJune 5, 2008

Apparently, the old adage that what goes up must come down does not apply for the oil companies. That is a cause of great concern, and I have asked the Federal Trade Commission and the Commodity Futures Trading Commission to investigate this disconnection between the price of oil on the world market and the price of refined product at the pump. Drivers are expected to share, in fact are forced to share, in the pain of oil and gas increases immediately, and they should have the expectation that they will also share in the relief just as quickly when the world oil price comes down. In a market this complex, it is imperative for the government to be an active protector of consumer rights and take swift measures to ensure that conditions are not exploited to the detriment of working families. By doing so, I believe we can make sure that any drop in crude prices will also mean real relief at the pump.

Said by

John Hall

Democratic · New York

Source

govinfo.gov

Editor's note · Context

Addressing concerns about oil prices and consumer protection during a speech on the House floor.

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John Hall: “Apparently, the old adage that what goes up must come down does not apply for the oil companies. That is a cause of…”

Editor's note · Context