S.Amdt. 1767
What it does: Adds Sec. 7___.(a) Not later than 14 days after the date of the enactment of this Act, the Federal Trade Commission shall initiate an inquiry into the retail prices of natural gas and gasoline to determine if the prices of natural gas and gasoline (both before and after Hurricane Katrina), including the price of gasoline containing ethanol, is being artificially manipulated by reducing refinery capacity, by speculation in oil market, or by any other form of manipulation on page 173, line 24
Sen. Ben Nelson (D-NE)What it changes
1 change to H.R. 2744
Adds Sec. 7___.(a) Not later than 14 days after the date of the enactment of this Act, the Federal Trade Commission shall initiate an inquiry into the retail prices of natural gas and gasoline to determine if the prices of natural gas and gasoline (both before and after Hurricane Katrina), including the price of gasoline containing ethanol, is being artificially manipulated by reducing refinery capacity, by speculation in oil market, or by any other form of manipulation on page 173, line 24
Adds a sectionPrinted pageInserted: Sec. 7___.(a) Not later than 14 days after the date of the enactment of this Act, the Federal Trade Commission shall initiate an inquiry into the retail prices of natural gas and gasoline to determine if the prices of natural gas and gasoline (both before and after Hurricane Katrina), including the price of gasoline containing ethanol, is being artificially manipulated by reducing refinery capacity, by speculation in oil market, or by any other form of manipulation.
Inserted: (b) Not later than 14 days after the initiation of the inquiry required under subsection (a), the Federal Trade Commission shall report to Congress the results of the inquiry.
Inserted: (c) Not later than 14 days after issuing the report required under subsection (b), the Federal Trade Commission shall hold a public hearing for the purpose of presenting the results of the inquiry.
Inserted: (d)(1) If the Federal Trade Commission determines that the increase in natural gas and gasoline prices, including the price of gasoline containing ethanol, is a result of market manipulation, the Federal Trade Commission shall, in cooperation with the attorney general of any affected State, take appropriate action.
Inserted: (2) If the Federal Trade Commission determines that the increase in natural gas and gasoline prices, including the price of gasoline containing ethanol, is not the result of market manipulation, the Federal Trade Commission shall notify the Secretary of Energy. The Secretary shall, not later than 14 days after receiving such notification, decide if expanded use of the Strategic Petroleum Reserve should be implemented to assure adequate supplies of gasoline.
Inserted: (e) This section shall cease to apply on--
Inserted: (1) the date the Federal Trade Commission makes its determination described in subsection (d); or
Inserted: (2) if applicable, the date of the decision of the Secretary of Energy under paragraph (2) of such subsection.
Original wording
On page 173, after line 24, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 1767. Mr. NELSON of Nebraska submitted an amendment intended to be proposed by him to the bill H.R. 2744, making appropriations for Agriculture, Rural Development, Food and Drug Administration, and Related Agencies for the fiscal year ending September 30, 2006, and for other purposes; which was ordered to lie on the table; as follows:
On page 173, after line 24, insert the following:
Sec. 7___.(a) Not later than 14 days after the date of the enactment of this Act, the Federal Trade Commission shall initiate an inquiry into the retail prices of natural gas and gasoline to determine if the prices of natural gas and gasoline (both before and after Hurricane Katrina), including the price of gasoline containing ethanol, is being artificially manipulated by reducing refinery capacity, by speculation in oil market, or by any other form of manipulation.
(b) Not later than 14 days after the initiation of the inquiry required under subsection (a), the Federal Trade Commission shall report to Congress the results of the inquiry.
(c) Not later than 14 days after issuing the report required under subsection (b), the Federal Trade Commission shall hold a public hearing for the purpose of presenting the results of the inquiry.
(d)(1) If the Federal Trade Commission determines that the increase in natural gas and gasoline prices, including the price of gasoline containing ethanol, is a result of market manipulation, the Federal Trade Commission shall, in cooperation with the attorney general of any affected State, take appropriate action.
(2) If the Federal Trade Commission determines that the increase in natural gas and gasoline prices, including the price of gasoline containing ethanol, is not the result of market manipulation, the Federal Trade Commission shall notify the Secretary of Energy. The Secretary shall, not later than 14 days after receiving such notification, decide if expanded use of the Strategic Petroleum Reserve should be implemented to assure adequate supplies of gasoline.
(e) This section shall cease to apply on--
(1) the date the Federal Trade Commission makes its determination described in subsection (d); or
(2) if applicable, the date of the decision of the Secretary of Energy under paragraph (2) of such subsection.
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Senate amendment submitted
September 20, 2005