House OKs Energy Price-Gouging Punishment

[WhiteTara]

http://www.chron.com/disp/story.mpl/ap/politics/3838202.html

The repukes are running for their lives!
WASHINGTON — The House approved criminal penalties and fines of up to $150 million Wednesday for energy companies caught price gouging as lawmakers responded to public anger over high gasoline prices and huge oil industry profits.

The legislation, receiving broad bipartisan support, passed 389-34, and must now be considered by the Senate.


But a proposal aimed at making it easier to expand or build refineries fell short 237-188. It needed two-thirds approval to pass under special House procedures.

Democrats said the speed-up in permits might reduce environmental protection and usurp local say over refinery construction.

President Bush, after meeting for more than an hour with more than a dozen Republican and Democratic members of Congress, said it was important "to make sure our consumers are treated fairly" by the oil markets.

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[paparush]

1. $150M is like swatting away a gnat.

they spend that much on copy paper and coffee filters. But, at least its something.

[Viva_La_Revolution]

4. It might be something IF

they enforce it.

[Richard D]

2. Hmmmmm

Raise the prices enough to increase profits by billions, get fined 150 million. Good business plan, no?

[NanceGreggs]

3. Why not make the fine $100 Trillion dollars?

I guarantee they'll never 'find' a single violation by an oil company.

As for this little gem:

"President Bush said it was important 'to make sure our consumers are treated fairly' by the oil markets."

:rofl: :rofl: :rofl:

[Robbien]

5. "might reduce environmental protection" Might?

Might my butt!

The bill was all about giving credits and environmental passes to the oil elite.

Thankfully it didn't pass. The US of A is enough of a cesspool already.

[Mel]

6. "to make sure our consumers are treated fairly"

Why am I not surprised that *Bush describes citizens as consumers?

[whosinpower]

7. Yeah BUT

Without a definition of what price gouging IS.....this bill means absolutely nothing.