[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3902 Introduced in House (IH)]







106th CONGRESS
  2d Session
                                H. R. 3902

    To impose a civil penalty on any energy-producing company that 
implements an unreasonable price increase for crude oil, residual fuel 
                  oil, or refined petroleum products.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 9, 2000

Mr. Traficant introduced the following bill; which was referred to the 
                         Committee on Commerce

_______________________________________________________________________

                                 A BILL


 
    To impose a civil penalty on any energy-producing company that 
implements an unreasonable price increase for crude oil, residual fuel 
                  oil, or refined petroleum products.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fuel Pricing Fairness Act of 2000''.

SEC. 2. CIVIL PENALTY FOR UNREASONABLE PRICE INCREASE FOR CRUDE OIL, 
              RESIDUAL FUEL OIL, OR REFINED PETROLEUM PRODUCTS.

    (a) In General.--Not later than 3 months after the date of 
enactment of this Act, the Secretary of Energy shall issue regulations 
that--
            (1) apply to all crude oil, residual fuel oil, or refined 
        petroleum products that are sold in the United States;
            (2) prohibit any unreasonable price increase for such 
        products by an energy-producing company (as defined in section 
        205(h)(6) of the Department of Energy Organization Act (42 
        U.S.C. 7135(h)(6))); and
            (3) impose a civil penalty of not more than $100,000,000 
        for each unreasonable price increase.
    (b) Unreasonable Price Increase Defined.--For purposes of this 
section, the term ``unreasonable price increase'' means any price 
increase that exceeds any concurrent increase in the production or 
operation costs of the energy-producing company that are directly 
related to the products being sold.
    (c) Determination of Unreasonable Price Increase.--The 
Administrator of the Energy Information Administration shall determine 
at least annually whether any energy-producing company has implemented 
an unreasonable price increase in violation of regulations issued under 
subsection (a).
                                 <all>