Steve Kagen: “Yesterday in my hometown of Appleton, Wisconsin, the price for a gallon of gas hit $3.45. Since President Bush assumed…”

“Yesterday in my hometown of Appleton, Wisconsin, the price for a gallon of gas hit $3.45. Since President Bush assumed office, the price for gas has nearly doubled. Higher prices for gas punish all Americans, punish small businesses, students, senior citizens, farmers, and even our local, State and Federal Governments as well. Everybody is asking, why? Why did the price at the pump go up even when the cost per barrel went down? The most likely answer is price gouging somewhere along the supply line, from the oil company to the refinery to the speculators in the options markets who buy and hold the oil for only a nanosecond. People everywhere want answers, and here is what we can do. Today the House will consider the Federal Price Gouging Prevention Act. And along with Congressman Stupak and Congressman Rush and others, we will put a cop back on the block. What we need is effective and active oversight, not hide-and-seek politics. Let's take this step together in the right direction. This bill defines what price gouging is. I urge my colleagues to support H.R. 1252.”