[Congressional Record Volume 152, Number 51 (Wednesday, May 3, 2006)]
[Extensions of Remarks]
[Page E701]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              FEDERAL ENERGY PRICE PROTECTION ACT OF 2006

                                 ______
                                 

                           HON. CLIFF STEARNS

                               of florida

                    in the house of representatives

                         Wednesday, May 3, 2006

  Mr. STEARNS. Mr. Speaker, as every American knows, fuel prices around 
the country have begun to rise with the beginning of the summer driving 
season, when demand is at its peak, and during a time when growing 
economies like China and India are consuming more and more of the 
world's available petroleum supply. To make matters worse, nuclear 
ambitions in Iran, the fourth largest oil producer, and tensions in 
Nigeria, the twelfth, have created the perfect storm for a precipitous 
rise in gasoline and other fuel prices. Our problem back home is how to 
manage those global issues so that they have as little impact at home 
on the average American who just wants to take his family on that 
planned vacation under tight budget or maintain his delivery business 
without taking out an additional loan. I am very happy that we are 
taking up H.R. 5253, the ``Federal Energy Price Protection Act of 
2006.'' This bill deals directly and aggressively with the need to 
stabilize the price of fuel in an uncertain world market and ensure 
that greed and opportunism don't worsen those challenges by gouging the 
customer at the pump. H.R. 5253, for the first time, allows the FTC, at 
any time, to prosecute price gouging. This bill takes aim at those in 
the wholesale and retail markets for gasoline, diesel fuel, crude oil, 
home heating oil, and biofuels who prey on their customers for their 
own unjust enrichment. The FTC is directed to define what price gouging 
actually is. And a very important point--this legal recourse and its 
enforcement provisions against gouging are always available, not just 
in times of natural or energy emergency. Mr. Speaker, this bill's 
hammer is triggered by consumer rip-offs, not bureaucratic 
proclamations. In addition, state attorneys general will be empowered 
to bring cases under the federal law and those cases can lead to 
extremely strong civil and criminal penalties in the multiple millions 
of dollars and the possibility of a visit to the nearest correctional 
facility. This is a very aggressive piece of legislation targeted at a 
problem that weakens this country not only in dollars but in what it 
does to the every day lives of all Americans--vacations missed, budgets 
broken, and business stretched thin. Mr. Speaker, I urge my colleagues 
to pass H.R. 5253, the Federal Energy Price Protection Act of 2006 and 
once and for all make it clear that we are serious about solving our 
energy challenges at home so we can be more successful in solving them 
abroad. This bill will serve us and our children well.

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