To appropriate funds to address price gouging and market manipulation and to provide for a report on oil industry mergers.

1. Adds SEC. __. MEASURES TO ADDRESS PRICE GOUGING AND MARKET MANIPULATION wherever appropriate

   Adds a section

   Inserted: SEC. __. MEASURES TO ADDRESS PRICE GOUGING AND MARKET MANIPULATION.

   Inserted: (a) Federal Trade Commission.--

   Inserted: (1) Additional amount.--For an additional amount for "Federal Trade Commission Salaries and Expenses" under the heading "RELATED AGENCIES" of title V of the Science, State, Justice, Commerce, and Related Agencies Appropriations Act, 2006 (Public Law 109-108), $10,000,000.

   Inserted: (2) Use.--Of the amount appropriated for "Federal Trade Commission Salaries and Expenses", as increased by paragraph (1), $10,000,000 shall be available to investigate and enforce price gouging complaints and other market manipulation activities by companies engaged in the wholesale and retail sales of gasoline and petroleum distillates.

   Inserted: (b) Commodity Futures Trading Commission.--

   Inserted: (1) Additional amount.--For an additional amount for "Commodity Futures Trading Commission" under the heading "RELATED AGENCIES AND FOOD AND DRUG ADMINISTRATION" of title VI of the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2006 (Public Law 109-97), $10,000,000.

   Inserted: (2) Use.--Of the amount appropriated for "Commodity Futures Trading Commission", as increased by paragraph (1), $10,000,000 shall be available for activities--

   Inserted: (A) to enhance investigation of energy derivatives markets;

   Inserted: (B) to ensure that speculation in those markets is appropriate and reasonable; and

   Inserted: (C) for data systems and reporting programs that can uncover real-time market manipulation activities.

   Inserted: (c) Securities and Exchange Commission.--

   Inserted: (1) Additional amount.--For an additional amount for "Securities and Exchange Commission Salaries and Expenses " under the heading "RELATED AGENCIES" of title V of the Science, State, Justice, Commerce, and Related Agencies Appropriations Act, 2006 (Public Law 109-108), $5,000,000.

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   Inserted: (2) Use.--Of the amount appropriated for "Securities and Exchange Commission Salaries and Expenses", as increased by paragraph (1), $5,000,000 shall be available for review and analysis of major integrated oil and gas company reports and filings for compliance with disclosure, corporate governance, and related requirements.

   Inserted: (d) Energy Information Administration.--

   Inserted: (1) Additional amount.--For an additional amount for "Energy Information Administration" under the heading "DEPARTMENT OF ENERGY" of title III of the Energy and Water Development Appropriations Act, 2006 (Public Law 109-103), $10,000,000.

   Inserted: (2) Use.--Of the amount appropriated for "Energy Information Administration", as increased by paragraph (1), $10,000,000 shall be available for activities to ensure real-time and accurate gasoline and energy price and supply data collection.

   Inserted: (e) Energy Supply and Conservation.--

   Inserted: (1) Additional amount.--For an additional amount for "Energy Supply and Conservation" under the heading "DEPARTMENT OF ENERGY" of title III of the Energy and Water Development Appropriations Act, 2006 (Public Law 109-103), $315,000,000.

   Inserted: (2) Use.--Of the amount appropriated for "Energy Supply and Conservation", as increased by paragraph (1), $315,000,000 shall be available to provide grants to State energy offices for--

   Inserted: (A) the development and deployment of real-time information systems for energy price and supply data collection and publication;

   Inserted: (B) programs and systems to help discover energy price gouging and market manipulation;

   Inserted: (C) critical energy infrastructure protection;

   Inserted: (D) clean distributed energy projects that promote energy security; and

   Inserted: (E) programs to encourage the adoption and implementation of energy conservation and efficiency technologies and standards.

   Inserted: (f) Government Accountability Office.--

   Inserted: (1) Additional amount.--For an additional amount for "Salaries and Expenses" under the heading "GOVERNMENT ACCOUNTABILITY OFFICE" of title I of the Legislative Branch Appropriations Act, 2006 (Public Law 109-55), $50,000.

   Inserted: (2) Use.--Of the amount appropriated for "Salaries and Expenses", as increased by paragraph (1), $50,000 shall be available to the Government Accountability for the preparation of a report, to be submitted to the appropriate committees of Congress not later than 90 days after the date of enactment of this Act, that includes--

   Inserted: (A) a review of the mergers between Exxon and Mobil, Chevron and Texaco, and Conoco and Phillips, and other mergers of significant or comparable scale in the oil industry that have occurred since 1990, including an assessment of the impact of the mergers on--

   Inserted: (i) market concentration;

   Inserted: (ii) the ability of the companies to exercise market power;

   Inserted: (iii) wholesale prices of petroleum products; and

   Inserted: (iv) the retail prices of petroleum products;

   Inserted: (B) an assessment of the impact that vitiating the mergers reviewed under subparagraph (A) would have on each of the matters described in clauses (i) through (iv) of subparagraph (A);

   Inserted: (C) an assessment of the impact of prohibiting any 1 company from simultaneously owning assets in each of the oil industry sectors of exploration, refining and distribution, and retail on each of the matters described in clauses (i) through (iv) of subparagraph (A); and

   Inserted: (D) an assessment of--

   Inserted: (i) the effectiveness of divestitures ordered by the Federal Trade Commission in preventing market concentration as a result of oil industry mergers approved since 1995; and

   Inserted: (ii) the effectiveness of the Federal Trade Commission in identifying and preventing--

   Inserted: (I) market manipulation;

   Inserted: (II) commodity withholding;

   Inserted: (III) collusion; and

   Inserted: (IV) other forms of market power abuse in the oil industry.

   Inserted: (g) Emergency Designation.--The amounts provided under this section are designated as an emergency requirement pursuant to section 402 of H. Con. Res. 95 (109th Congress), the concurrent resolution on the budget for fiscal year 2006.

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   Original wording

   At the appropriate place, insert the following:

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As printed