[Congressional Record (Bound Edition), Volume 152 (2006), Part 7]
[House]
[Page 9199]
[From the U.S. Government Publishing Office, www.gpo.gov]




              SOMETHING IS ROTTEN IN THE STATE OF BIG OIL

  (Mr. BISHOP of New York asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. BISHOP of New York. Mr. Speaker, while the Federal Trade 
Commission says price gouging isn't a problem at the Nation's gas 
pumps, American families know there is something rotten in the state of 
big oil.
  In the face of soaring gas prices that have pinched consumers for 
over a year, record breaking profits and nine-figure golden parachutes 
for oil CEOs, it is impossible to fathom why the FTC didn't include any 
meaningful recommendations about how to deal with price spikes or why 
our leadership in Congress hasn't done a better job delivering relief 
to American families approaching the peak summer months of gas 
consumption.
  One thing is for sure: This rubber stamp Republican Congress bears 
responsibility for an energy policy that makes a priority of handing 
out billions worth of tax breaks for an industry that simply doesn't 
need it, as one CEO testified before the Senate, above delivering real 
relief to consumers.
  When all five FTC Commissioners back up their report before the 
Senate Commerce Committee today, it is going to be a tough sell to the 
American people that price gouging really isn't a problem and that what 
is good for the oil companies' bottom line is good for the American 
families.

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