Carney Speaks Out Against Unfair Gas Prices

CARNEY SPEAKS OUT AGAINST UNFAIR GAS PRICES

Congressman Christopher P. Carney joined Members of Congress in speaking out against high gas prices. At a press conference to announce hearings for the Federal Price Gouging Prevention Act, Congressman Carney said, "I hear from working families all over my district that gas prices are too high, but at the same time we see the oil company executives are taking home record breaking bonuses in the millions. This legislation, which I was proud to be an original sponsor of, would give the Federal Trade Commission (FTC) the explicit authority to investigate and punish those who artificially inflate the price of energy," said Carney.

The Federal Price Gouging Prevention Act would provide immediate relief to consumers by giving the FTC the explicit authority to investigate and punish those who artificially inflate the price of energy. The bill would impose tough criminal penalties of up to $150 million for corporations, and fines of up to $2 million plus jail sentences of up to 10 years for individuals. To date, the FTC has never brought a gas price gouging case to court. The Federal Government has never accurately defined "price gouging" so the FTC is unable to prosecute.

"I have held four town hall meetings thus far in Northeast and Central Pennsylvania. At nearly every event, someone asks me what can be done about the outrageous increases in the cost of gas. With this legislation, we can provide a clear, enforceable definition of price gouging and bring greater transparency to oil and gas markets. When I talk to families in Pennsylvania, I need to tell them that Congress is doing everything in its power to make sure their prices at the pump are legitimate, and not inflated," said Carney.

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