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U.S. House passes bill to fight oil and gas price gouging

Commodities May 19, 2022 12:56PM ET
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© Reuters. FILE PHOTO: A gas pump is inserted inside an Audi vehicle at a Mobil gas station in Beverly Boulevard in West Hollywood, California, U.S., March 10, 2022. Picture taken March 10, 2022. REUTERS/Bing Guan

WASHINGTON (Reuters) -The U.S. House passed a bill on Thursday that allows the U.S. president to issue an energy emergency declaration, making it unlawful for companies to excessively increase gasoline and home fuel prices.

The bill must pass the Senate, which is unlikely, and be signed by President Joe Biden to become law.

The legislation, sponsored by Democratic Representatives Katie Porter and Kim Schrier, passed the House 217 to 207, with no Republicans supporting it. In the Senate, evenly divided at 50 members in each party, 10 Republicans would need to support it for the bill to pass.

U.S. House passes bill to fight oil and gas price gouging
 

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Comments (3)
Khoa Phan
Khoa Phan May 19, 2022 3:23PM ET
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Democrats today sure never study economics....:/
Kelly Mayer
Kelly Mayer May 19, 2022 1:11PM ET
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This will be remembered as the start of communist US.
Don Getty
Don Getty May 19, 2022 1:11PM ET
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I think the attempt on Jan. 6th to change the USA from a democracy to a dictatorship - should have you way more concerned - King Donald wouldn't care what you got charged as long as he got a cut
its private
its private May 19, 2022 1:11PM ET
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really, was that a threat to our democracy??? Seems someone being watching too much propaganda.
Gayle Williams
Gayle Williams May 19, 2022 12:55PM ET
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implementing price controls will be a recipe for disaster!
 
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