Energy Pricing Investigation
Senator Wyden, a member of the Senate Energy and Natural Resources Committee, testified about the need to strengthen consumer protection law in the area of energy pricing, in addition to legislating more authority for the Federal Trade Commission to police energy prices in the instances where anti-trust law does not apply.
Witnesses testified about the short- and long-term rise in domestic energy prices and whether price gouging is occurring in consumer gasolin… read more
Witnesses testified about the short- and long-term rise in domestic energy prices and whether price gouging is occurring in consumer gasoline or whether the market is controlling prices in response to an abnormal market circumstance. It was noted that gasoline prices have tripled in past two years, with oil prices rising to $70.00 per barrel. Solutions were suggested including energy conservation, more efficient cars, increased inventory, and redundancy of systems in refineries and pipelines
Senator Wyden, a member of the Senate Energy and Natural Resources Committee, testified about the need to strengthen consumer protection law in the area of energy pricing, in addition to legislating more authority for the Federal Trade Commission to police energy prices in the instances where anti-trust law does not apply. close
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