[Congressional Record Volume 168, Number 69 (Wednesday, April 27, 2022)]
[Senate]
[Pages S2173-S2174]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                        Federal Trade Commission

  Now, Madam President, on the FTC, as we have done all along this 
year, Democrats are continuing to focus on lowering prices for the 
American people. Yesterday, I met with Speaker Pelosi to discuss how 
both Chambers can work together to address the terrible burden of 
rising gas prices.
  It is one of the most vexing issues for the American people. The 
disturbances from the pandemic and the war in Ukraine have caused gas 
prices to spike, and working Americans are hurting. But do you know who 
is not hurting? The largest oil and gas companies, which reported over 
$205 billion in profits in 2021 even while Americans pay more at the 
pump. Solving this issue is a top priority for Democrats--a top 
priority. Unfortunately, the other side seems content with bemoaning 
rising costs day after day, without expressing any interest in actually 
offering solutions to the problem.

  Senate Democrats are actually working to solve the problem, and we 
will

[[Page S2174]]

continue talks with our House colleagues on legislation that can bring 
gas prices down. There are several options we can take.
  Now, there is a growing consensus that the Federal Government--
especially the FTC--should investigate possible price gouging and price 
manipulation, market manipulation, that might be happening among the 
largest oil and gas companies in the country. This is one step we are 
working on out of many.
  Of course, any solution involving the FTC requires that the FTC have 
full membership to begin with, so we are also going to keep working to 
confirm Mr. Bedoya as the fifth FTC Commissioner to break the 2-2 
deadlock that has lasted for over a year.
  It is important to note that Republicans unanimously are not voting 
for Mr. Bedoya, and that has paralyzed the FTC, even though its 
leadership would love to go after the price gouging and market 
manipulation. We have a few Members absent because of health issues 
this week, but I want to be clear that health issues will not deter us 
from getting Mr. Bedoya and other important nominees, like Lisa Cook, 
confirmed.
  I urge any Republican who is truly worried about rising gas prices to 
drop their senseless objection to getting Mr. Bedoya confirmed. It 
seems it is only covering up for the oil companies and preventing a 
really sharp, piercing investigation of market manipulation and price 
gouging. There is something deeply wrong about seeing the largest oil 
companies, while raking record profits, asking Americans to pay more at 
the pump. That is why we need an FTC with full membership, so it can 
look under the hood of America's energy sector and drill down into why 
Big Oil is pumping out record profits as consumers struggle.
  Again, I repeat to my Republican colleagues: If you care about 
lowering gas prices and care about looking at what the large 
companies--oligopolies--are doing, join us in voting Mr. Bedoya on the 
FTC. A vote against him is a vote for Big Oil and against the American 
driver and consumer.