Everyone hates Nancy Pelosi’s gas bill
Congress on Thursday approved a bill that gives the White House power to enact price controls on gasoline. The Consumer Fuel Price Gouging Prevention Act lets the Federal Trade Commission treat so-called price gouging as a deceptive trade practice. Congress specifically directs the FTC to prioritize cases “concerning companies with total United States wholesale or retail sales of consumer fuels in excess of $500,000,000 per year.” In other words, all the major suppliers of oil and gas to the United States. “This is a major exploitation of the consumer, because this is a product the consumer must have,” droned House Speaker Nancy Pelosi, whose love of fuel price gouging legislation dates to 2005.
