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Johnson Fights Oil Company Price-Gouging

Date: May 3, 2006
Location: Washington, DC
Issues: Oil and Gas


Johnson Fights Oil Company Price-Gouging

Supports Bill to Make Gouging Punishable by Prison, $150 Million Fine

Congresswoman Nancy Johnson today strongly supported legislation cracking down on suspected oil and gas price gouging. The legislation, which passed the U.S. House today by a 398-34 vote, authorizes the Justice Department to prosecute
price-gouging, and it makes the crime punishable by two years in prison and a $150 million fine.

"It is simply criminal and outrageous for anyone to gouge consumers, especially with gas prices so high and oil company profits off the charts," Johnson said. "Connecticut families should not have to foot the bill for fraudulent pricing schemes. This bill makes it absolutely clear that a price-gouging conviction can mean jail time and huge fines for oil companies that take advantage of consumers. This bill offers consumers real safeguards while we tackle the long-term challenges of high energy costs."

http://www.house.gov/nancyjohnson/pricegougingbillmay.pdf

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