Ruppersberger Introduces the Energy Fraud and Fairness Reform Act

(Washington, D.C.)- Congressman C.A. Dutch Ruppersberger (D-MD) introduced cutting-edge energy legislation to combat rising gas prices and increasing pain at the pump.  In Maryland, the average gallon of gasoline is close to $4.  That is up from $2.90 a year ago according to AAA’s Daily Fuel Gauge Report.  Maryland families now pay an average of $5,000 a year on gas.  That’s up from $3,275 when President Bush took office seven years ago.        

“This means going to work, taking your kids to camp, traveling to the grocery store, or going on vacation is getting more and more expensive.  From taxicab drivers to the local take out delivery person to the plumber making house calls to the truck drivers delivering good throughout the country, gas bills are going up and salaries are going down.  Maryland families are feeling the pinch and they need some relief.  The Energy Fraud and Fairness Act combats rising gas prices, eases the pain at the pump, and helps America achieve long term energy independence,” said Congressman C.A. Dutch Ruppersberger (D-MD).   

The Energy Fraud and Fairness Reform Act:

• Directs the Federal Trade Commission to investigate how speculators are driving up the cost of gas in the financial markets and offer recommendations to prevent the practice;
• Increases the tax credit for consumers who convert their gas fueled car to an alternative fueled vehicle powered by ethanol, natural gas, hydrogen or other clean fuel; 
• Instructs the Government Accountability Office to study if oil companies are deliberately not building refineries in the United States to keep the supply of domestic oil low and prices high;
• Instructs the Government Accountability Office to investigate if oil companies did not use the billions of dollars in federal tax credits on oil exploration and research and instead used the money to bolster stock prices and line their pockets. 

Congressman Ruppersberger has long been a supporter of environmentally friendly hybrid vehicles.  He sponsored legislation in 2004 that extended the $4,000 tax credit for people who purchase a hybrid.  The language was included in the energy bill that passed Congress in 2005.  In fact, Congressman Ruppersberger just recently bought a GMC hybrid.  His wife bought a Ford Escape hybrid last year.

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