The House passed legislation on Thursday pushed by Democrats that's aimed at penalizing oil companies if proven to be inflating prices on gas or other petroleum-based fuels.
The legislation, introduced by Rep. Kim Schrier , includes language to allow the Federal Trade Commission to investigate and take legal action against corporations if they are found to be “exploiting” an energy emergency. The measure passed the House 217-207, with all Republicans voting no, along with four Democratic lawmakers.
“At a time when people in my district and across the country are feeling the pain of high prices at the gas pump, Congress needs to be doing all we can to bring down costs," Schrier said."Gas prices in my neighborhood were already high at $5 a gallon. Now, for no apparent reason, just over the past week, prices are up another 10% at $5.50 a gallon. Meanwhile, neither the price of a barrel of oil nor the cost of refining have changed appreciably.
“President Biden and his administration have run roughshod over American energy resource development. They've been hamstringing energy production at every turn. As has been said many times on this floor, on day one, President Biden halted and shut down the Keystone XL pipeline. He halted all onshore and offshore oil and gas leases.
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