Senator Boxer:  Ban Gas Price Gouging   

Friday, May 11, 2007  

I recently joined Senator Maria Cantwell (D-WA) and a bipartisan group of Senators in introducing a measure that would ban price gouging at the gas pump.  S.1263 would guard against profiteering and market manipulation by oil and gas companies.

Californians have again seen record gas prices in recent days.  These prices create a significant hardship both for families and for businesses.  Meanwhile, the newspaper headlines regularly report on the record profits of energy companies.

S.1263 would prohibit gasoline price gouging and increase transparency of the energy market.  It would also guard against manipulation of oil and gas prices by increasing the Federal Trade Commission’s authority to investigate and fine oil companies. 

This legislation was first introduced in 2005 and actually received 57 votes as an amendment to the Tax Reconciliation bill.  However, at that time, it required 60 votes for passage.  I am hopeful that this bill will receive prompt Senate consideration so that we can better protect all Americans from gas price gouging.

Sincerely,