[Congressional Record (Bound Edition), Volume 152 (2006), Part 5]
[Extensions of Remarks]
[Pages 6965-6966]
[From the U.S. 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

[[Page 6966]]

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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