Special Report on
Federal Price Gouging Prevention Act
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Since the dawn of Anglo-Saxon common law, conviction for committing
a crime required evidence of malicious intent—that is, a conscious
willingness to violate society's norms by inflicting harm on people
directly or by misappropriating or abusing their property. This
stricture, which is often referred to as the blameworthiness principle,
has tended to ensure that people who inadvertently and in good faith
infringe laws and regulations will not suffer the stigmatization
of a criminal conviction or face incarceration. ...
Federal Price Gouging Prevention Act - Trends
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The Federal Price Gouging Prevention Act - Speaker Nancy Pelosi ...
which investigates and punishes those who artificially inflate the price of gasoline and diesel fuel. The bill sets criminal penalties for price gouging, and permits states to bring lawsuits against wholesalers or retailers who engage in such practices. While 276 members voted for the bill , it failed to get the two-thirds support necessary for passage. Learn more about our work to bring down gas and energy prices>> Learn more about our work promoting energy independence>> The summer driving season is well underway and drivers are paying a heavy price for the Bush Administration’s failure to enact a comprehensive ...
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The district, Minnesota's largest and most rural district, includes the entire northwestern area of the state. It includes Moorhead , Fergus Falls , Bemidji , Detroit Lakes , Thief River Falls , Willmar , Marshall , and Alexandria . Since 2007, Peterson has been chairman of the House Agriculture Committee .
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Apparently some lessons we must relearn. One might assume our disastrous economic flirtation with socialism in the 1970s — never mind the sorry record of command-and-control economics in the former Soviet bloc — would have buried the concept of government wage- and price-controls for at least a generation. Yet this Congress appears intent on resurrecting the worst policies of the past. Price controls have superficial appeal. The average gas-price rose more than 10 percent last month, allowing pandering politicians to promise relief. They don’t say that consumers will suffer worse ... Read More
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REVIEWS AND OPINIONS
rather it is alive and well among America’s leaders. Here’s the Democrats’ solution to the high gas prices faced by Americans today: Join the Campaign to Change America / John Edwards ’08 Blog “The ENERGY PRICE GOUGING PREVENTION ACT will provide immediate relief to consumers by giving the Federal Trade Commission the AUTHORITY to investigate prices–focusing on the causes, the burdens they put on American families and businesses, and solutions.” And here’s an insightful and entertaining critique of the Democrat’s proposed bill by economist Tim Haab: Environmental Economics: ...
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Congratulations! You are the proud owner of a new gas station in Boca Raton, Florida. You sell gasoline at this week’s average price in Florida: about $3.00 for a gallon of regular grade. Fun gas station owner fact: you make a pre-tax profit of only about 3 cents per gallon. (For comparison, taxes are in the range of 50 cents per gallon in Florida.) You make most of your profit from foot traffic in your convenience store, selling things like bottled water and soda, chips and candy, lottery tickets, and cigarettes. This means your profit motive drives you to focus first on keeping foot traffic coming into your convenience store. ...
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SURVEY RESULTS FOR
FEDERAL PRICE GOUGING PREVENTION ACT
Throughout my career in public service, I have been a strong proponent of efforts to lower energy costs, invest in renewable energy resources, promote energy independence and create a stronger more secure economy. Increasing the nation’s overall energy efficiency requires a multifaceted approach. The National Resources Defense Council reports that America's energy bill will increase by $420 billion annually within the next five years if we do nothing to reduce our dependence on oil and fossil fuels. That amounts to $3,500 annually for every family in the nation. It is also important to address the issue of ...
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As oil prices continued to rise steadily on world markets during the early part of 2008, it became clear to many energy and economic experts around the world that supply and demand were not the only forces pushing prices higher. Market speculators who had no intent of accepting delivery of crude oil were buying and selling futures contracts to make quick profits as the price of oil continued to race upward. Market volatility exploded. During 1998, a barrel of oil traded within a $7 price range the entire year. A decade later, price swings of that magnitude were being seen in a single day. As long as another trader was willing to ...
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Prosecutors in a New Jersey ticket scalping case are pushing the envelope on the federal computer hacking law, setting a precedent that could make it a felony to violate a website’s terms of service and fool a CAPTCHA, according to electronic civil rights groups intervening in the case. At issue is a four-month-old criminal prosecution against the online ticket-reselling business Wiseguy Tickets , which allegedly used a network of shell companies, rented servers and automated scripts to snatch up more than 1 million premium tickets for coveted concerts and sporting events, which it resold for more than $25 million in profits.
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When college students sit down to plan their semester course schedules this fall, they will have a better idea of just how much they can expect to be paying for their textbooks. A federal law, part of the Higher Education Opportunity Act (HEOA) passed by Congress in 2008, will require institutions of higher education that receive federal financial assistance to provide students with accurate textbook information including retail price at the time a student registers for the course. The law will go into effect July 1. “I think it sounds helpful,” says Megan Greitens, a sophomore psychology major at the University of ...
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INFORMATION RESOURCES
May 23, 2007 ... H.R. 1252 – Federal Price Gouging Prevention Act of 2007. (Rep. Stupak (D) Michigan and 106 cosponsors). The Administration strongly opposes ...
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{link: 'http://thomas.loc.gov/cgi-bin/bdquery/z?d110:H.R.1252:@@@L',title: 'THOMAS - BSS - H.R.1252 - All Information' } H.R.1252 Title: Federal Price Gouging Prevention Act Sponsor: Rep Stupak, Bart [MI-1]
(introduced 2/28/2007)
Cosponsors (125) Related Bills: H.R.6346 Latest Major Action: 5/24/2007
Referred to Senate committee. Status: Received in the Senate and Read twice and referred to the Committee on Commerce, Science, and Transportation. SUMMARY AS OF: 5/23/2007--Passed House amended. (There is 1 other summary ) Federal Price Gouging Prevention ...
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The Administration strongly opposes House passage of H.R. 1252. The Administration is greatly concerned about the difficulty high gas prices are creating for both families and businesses; however, this bill will not alleviate this problem. This bill could result in gasoline price controls and in some cases bring back long gas lines reminiscent of the 1970s. Gasoline price controls are an old – and failed – policy choice that will exacerbate shortages and increase fuel hoarding after natural disasters, denying fuel to people when they most need it. If H.R. 1252 or any similar price control bill were presented to ...
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FEDERAL PRICE GOUGING PREVENTION ACT
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QUESTIONS AND ANSWERS
I just saw on CBS Sunday morning that Obama and Interior Secretary Ken Salazar are FIGHTING with BP to take responsibilty and give more effort... Fighting??? as in BP is dragging there feet becuse they don't want to spend $$$. We assume and we hope a company like BP (Big Pollution) would be giving there full effort, but the reality is THEY ARE NOT. BP is arguing that it is not there responsibility, meanwhile 5000 Barrells (100, 000 +) gallons of oil FLOW into the gulf like a river. We need BP to act NOW. How can we get oil executives to act ... hit them where it hurts -- $$$$ Buy Mobil, buy Exxon, buy any other brand ...
Hot on the heels of the banking crisis, the employment crisis, and the mortgage/foreclosure crisis, the country is on the verge of experiencing a credit card crisis. According to the Federal Reserve, the total outstanding credit card debt carried by Americans reached a record $951 billion in 2008 -- a number that will only climb higher as more and more people reach for the plastic to make ends meet. What's more, roughly a third of that is debt held by risky borrowers with low credit ratings. Credit card defaults are on the rise and are expected to hit 10 percent this year. This will obviously drive many banks closer to ...
