Amendment requires the Federal Trade Commission to conduct an investigation to determine if the price of gasoline is being manipulated by reducing refinery capacity or by any other form of market manipulation or artificially increased by price gouging practices.

CONSUMER FUEL PRICE GOUGING PREVENTION ACT

Mr. PALLONE. Madam Speaker, pursuant to House Resolution 1124, I call
up the bill (H.R. 7688) to protect consumers from price-gouging of
consumer fuels, and for other purposes, and ask for its immediate
consideration in the House.
The Clerk read the title of the bill.
The SPEAKER pro tempore (Ms. Porter). Pursuant to House Resolution
1124, the amendment printed in Part B of House Report 117-333 is
adopted, and the bill, as amended, is considered read.
The text of the bill, as amended, is as follows:

H.R. 7688

Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Consumer Fuel Price Gouging
Prevention Act''.

SEC. 2. UNCONSCIONABLE PRICING OF CONSUMER FUELS DURING
EMERGENCIES.

(a) Unconscionable Pricing.--
(1) In general.--It shall be unlawful for any person to
sell a consumer fuel, at wholesale or retail, in an area and
during a period of an energy emergency covered by a
proclamation issued under paragraph (2) at a price that--
(A) is unconscionably excessive; and
(B) indicates the seller is exploiting the circumstances
related to an energy emergency to increase prices
unreasonably.
(2) Energy emergency proclamation.--
(A) In general.--The President may issue an energy
emergency proclamation for any area within the jurisdiction
of the United States, during which the prohibition in
paragraph (1) shall apply, that includes the geographic area
covered, the consumer fuel covered, and the time period that
such proclamation shall be in effect.
(B) Duration.--The proclamation--
(i) may not apply for a period of more than 30 consecutive
days, but may be renewed for such consecutive periods, each
not to exceed 30 days, as the President determines
appropriate; and
(ii) may include a period of time not to exceed 1 week
before a reasonably foreseeable emergency.
(3) Factors considered.--
(A) In general.--In determining whether a person has
violated paragraph (1), there shall be taken into account,
among other factors, the aggravating factors described in
subparagraph (B) and the mitigating factor described in
subparagraph (C).
(B) Aggravating factors.--The aggravating factors described
in this subparagraph are the following:
(i) Whether the amount charged by such person grossly
exceeds the average price at which the consumer fuel was
offered for sale by such person during--

(I) the 30-day period before the date on which the
proclamation was issued; or
(II) another appropriate benchmark period, as determined by
the Commission.

(ii) Whether the amount charged by such person grossly
exceeds the price at which the same or a similar consumer
fuel was readily obtainable in the same area from other
sellers during the energy emergency period.
(C) Mitigating factor.--The mitigating factor described in
this subparagraph is whether the quantity of any consumer
fuel such person produced, distributed, or sold in an area
covered by the proclamation during the 30-day period
following the date on which the proclamation was issued
increased over the quantity such person produced,
distributed, or sold during the 30-day period before the date
on which the proclamation was issued, taking into account any
usual seasonal demand variation.
(b) Affirmative Defense.--It shall be an affirmative
defense in any civil action or administrative action to
enforce subsection (a), with respect to the sale, at
wholesale or retail, of a consumer fuel by a person, that the
increase in the price of such consumer fuel reasonably
reflects additional costs that were paid, incurred, or
reasonably anticipated by such person, or reasonably reflects
additional risks taken by such person, to produce,
distribute, obtain, or sell such consumer fuel under the
circumstances.
(c) Rule of Construction.--This section may not be
construed to cover a transaction on a futures market.
(d) Enforcement.--
(1) Federal trade commission.--A violation of subsection
(a) shall be treated as a violation of a rule defining an
unfair or deceptive act or practice prescribed under section
18(a)(1)(B) of the Federal Trade Commission Act (15 U.S.C.
57a(a)(1)(B)). The Federal Trade Commission shall enforce
this section in the same manner, by the same means, and with
the same jurisdiction, powers, and duties as though all
applicable terms and provisions of the Federal Trade
Commission Act were incorporated into and made a part of this
section. In enforcing subsection (a), the Commission shall
give priority to enforcement actions concerning companies
with total United States wholesale or retail sales of
consumer fuels in excess of $500,000,000 per year.
(2) Enforcement at retail level by state attorneys
general.--
(A) In general.--If the chief law enforcement officer of a
State, or an official or agency designated by a State, has
reason to believe that any person has violated or is
violating subsection (a) involving a retail sale, the
attorney general, official, or agency of the State, in
addition to any authority it may have to bring an action in
State court under its laws, may bring a civil action in any
appropriate United States district court or in any other
court of competent jurisdiction to--
(i) enjoin further such violation by such person;
(ii) enforce compliance with such subsection;
(iii) obtain civil penalties; and
(iv) obtain damages, restitution, or other compensation on
behalf of residents of the State.
(B) Notice.--The State shall serve written notice to the
Commission of any civil action under subparagraph (A) before
initiating such civil action. The notice shall include a copy
of the complaint to be filed to initiate such civil action,
except that if it is not feasible for the State to provide
such prior notice, the State shall provide such notice
immediately upon instituting such civil action.
(C) Authority to intervene.--Upon receipt of the notice
required by subparagraph

[[Page H5180]]

(B), the Commission may intervene in such civil action and
upon intervening--
(i) be heard on all matters arising in such civil action;
and
(ii) file petitions for appeal of a decision in such civil
action.
(D) Construction.--For purposes of bringing any civil
action under subparagraph (A), nothing in this paragraph
shall prevent the attorney general of a State from exercising
the powers conferred on the attorney general by the laws of
such State to conduct investigations or to administer oaths
or affirmations or to compel the attendance of witnesses or
the production of documentary and other evidence.
(E) Limitation on state action while federal action is
pending.--If the Commission has instituted a civil action or
an administrative action for violation of subsection (a), a
State attorney general, or official or agency of a State, may
not bring an action under this paragraph during the pendency
of that action against any defendant named in the complaint
of the Commission or another agency for any violation of this
Act alleged in the complaint.
(F) Rule of construction.--This paragraph may not be
construed to prohibit an authorized State official from
proceeding in State court to enforce a civil or criminal
statute of such State.
(e) Low Income Energy Assistance.--
(1) Deposit of funds.--Amounts collected in any penalty
under subsection (d)(1) shall be deposited in a separate fund
in the Treasury to be known as the Consumer Relief Trust
Fund.
(2) Use of funds.--To the extent provided for in advance in
appropriations Acts, the amounts deposited into the fund
shall be used to provide assistance under the Low Income Home
Energy Assistance Program described in section 2602 of the
Low-Income Home Energy Assistance Act of 1981 (42 U.S.C.
8621) administered by the Secretary of Health and Human
Services and the Weatherization Assistance Program
established under part A of title IV of the Energy
Conservation and Production Act (42 U.S.C. 6861 et seq.)
administered by the Secretary of Energy.
(f) Effect on Other Laws.--
(1) Other authority of commission.--Nothing in this section
may be construed to limit the authority of the Commission
under the Federal Trade Commission Act (15 U.S.C. 41 et seq.)
or any other provision of law.
(2) State law.--Nothing in this section preempts any State
law.
(g) Definitions.--In this section:
(1) Commission.--The term ``Commission'' means the Federal
Trade Commission.
(2) Consumer fuel.--The term ``consumer fuel'' includes
gasoline, distillate fuel oil, jet fuel, liquid propane,
aviation gasoline, compressed natural gas, and biofuel
(including ethanol, biomass-based diesel, and renewable
blending components) used for transportation fuels, and home
heating oil and liquid propane used for residential heating
or residential energy generation.
(3) Retail.--The term ``retail'', with respect to the sale
of a consumer fuel, includes all sales to end users such as
motorists as well as all direct sales to other end users such
as agriculture, industry, residential, and commercial
consumers.
(4) Wholesale.--The term ``wholesale'', with respect to the
sale of a consumer fuel, means sale to any person for resale.

SECTION 3. AMENDMENTS TO THE PROHIBITIONS ON MARKET
MANIPULATION AND FALSE INFORMATION PROVISIONS
OF THE ENERGY INDEPENDENCE AND SECURITY ACT OF
2007.

(a) Application to Transportation Fuel.--Subtitle B of
title VIII of the Energy Independence and Security Act of
2007 (42 U.S.C. 17301 et seq.) is amended--
(1) in section 811, by striking ``gasoline or petroleum
distillates'' and inserting ``or transportation fuel'';
(2) in section 812--
(A) in the matter preceding paragraph (1), by striking
``gasoline or petroleum distillates'' and inserting ``or
transportation fuel''; and
(B) in paragraph (3), by striking ``, gasoline, or
petroleum distillates'' and inserting ``or transportation
fuel''; and
(3) by adding at the end the following new section:

``SEC. 816. DEFINITION OF TRANSPORTATION FUEL.

``In this subtitle, the term `transportation fuel' includes
gasoline, distillate fuels (including heating oil), jet fuel,
aviation gasoline, and biofuel (including ethanol, biomass-
based diesel and distillates, and renewable blending
components).''.
(b) Prohibition on False Information.--Section 812 of the
Energy Independence and Security Act of 2007 (42 U.S.C.
17302) is amended--
(1) in the matter preceding paragraph (1)--
(A) by striking ``wholesale'' and inserting ``supply of,
operational actions related to, output related to, or
wholesale''; and
(B) by striking ``to a Federal department or agency'';
(2) in paragraph (1), by adding ``and'' at the end;
(3) by striking paragraph (2) and redesignating paragraph
(3), as amended by subsection (a), as paragraph (2); and
(4) in paragraph (2), as so redesignated, by striking ``the
person intended the false or misleading data to affect data
compiled by the department or agency'' and inserting ``the
false or misleading information reported by the person
affected analyses or data compiled by a Federal department or
agency or a private sector price-reporting agency''.
(c) Enforcement.--Section 813(a) of the Energy Independence
and Security Act of 2007 (42 U.S.C. 17303(a)) is amended by
striking ``This subtitle'' and inserting ``Except as
otherwise provided in section 814, this subtitle''.
(d) Penalties.--Section 814 of the Energy Independence and
Security Act of 2007 (42 U.S.C. 17304) is amended--
(1) in subsection (a), by striking ``$1,000,000'' and
inserting ``$2,000,000''; and
(2) in subsection (b), by striking ``section 5 of the
Federal Trade Commission Act (15 U.S.C. 45)'' and inserting
``section 5(m)(1)(A) of the Federal Trade Commission Act (15
U.S.C. 45(m)(1)(A))''.

SEC. 4. TRANSPORTATION FUEL MARKET TRANSPARENCY.

Section 205 of the Department of Energy Organization Act
(42 U.S.C. 7135) is amended by adding at the end the
following:
``(n) Transportation Fuel Market Transparency.--
``(1) Definitions.--In this subsection:
``(A) Energy company.--The term `energy company' means a
person (as defined in section 11(e) of the Energy Supply and
Environmental Coordination Act of 1974 (15 U.S.C. 796(e)))
that--
``(i) owns or controls commercial amounts of crude oil or
transportation fuel; or
``(ii) is engaged in--

``(I) exploration for, or development of, crude oil;
``(II) extraction of crude oil;
``(III) refining or otherwise processing crude oil or
transportation fuel;
``(IV) commercial storage of crude oil or transportation
fuel;
``(V) transportation by any means of commercial amounts of
crude oil or transportation fuel; or
``(VI) wholesale or retail distribution of crude oil or
transportation fuel.

``(B) Transportation fuel.--The term `transportation fuel'
means--
``(i) gasoline;
``(ii) distillate fuels, including heating oil;
``(iii) jet fuel;
``(iv) aviation gasoline; and
``(v) biofuel, including ethanol, biomass-based diesel and
distillates, and renewable blending components.
``(2) Purpose.--The purpose of this subsection is to
collect data necessary to facilitate transparent and
competitive transportation fuel markets, determine adherence
to relevant international sanctions, and protect consumers.
``(3) Surveys.--
``(A) In general.--The Administrator shall conduct surveys
of energy companies to collect detailed and timely
information on United States crude oil and transportation
fuel markets.
``(B) Exemption.--The Administrator shall exempt an energy
company from participating in the surveys conducted under
subparagraph (A) if the energy company has a de minimis
market presence or impact, as determined by the
Administrator.
``(4) Data collected.--
``(A) In general.--The surveys conducted under paragraph
(3) shall collect information on a national, regional, State,
and energy company basis.
``(B) Information.--The surveys conducted under paragraph
(3) shall collect the following information with respect to
crude oil and transportation fuel, as applicable:
``(i) The quantity of crude oil and transportation fuel
imported and exported.
``(ii) The quantity of crude oil and transportation fuel
refined, stored, and transported.
``(iii) The quantity of crude oil and transportation fuel
entering final retail and commercial commerce.
``(iv) The quantity of crude oil and transportation fuel
purchased and sold at any upstream point between energy
companies, including off-exchange bilateral sales and sales
between subsidiaries of the same energy company.
``(v) Market price data for the transactions described in
clauses (i) through (iv).
``(vi) Submissions to relevant price reporting entities.
``(vii) Any other such data, analyses, or evaluations that
the Administrator determines is necessary to achieve the
purpose described in paragraph (2).
``(C) Origin of fuel.--In obtaining the information
described in subparagraph (B), the Administrator shall, to
the maximum extent practicable, track and publish the country
of original production of crude oil and transportation fuel
that may have been resold, refined, blended, stored, or
otherwise been exchanged or sold before being imported or
exported into the United States.
``(D) Other sources.--The Administrator may, when
practicable and determined reliable by the Administrator,
obtain information described in subparagraph (B) from private
price publishers and providers of trade processing services.
``(5) Minimizing reporting burdens.--The Administrator
shall seek to minimize any burdens on energy companies in
reporting information to the Administrator, including by
automating data submission practices for data collected under
the surveys conducted under paragraph (3).
``(6) Public distribution.--
``(A) In general.--To the maximum extent practicable,
subject to this paragraph, the Administrator shall
consistently and promptly make publicly available analyses of
the results of the data collected pursuant

[[Page H5181]]

to this subsection in a form and manner easily adaptable for
public use and machine analysis.
``(B) Geographical specificity.--Analyses published under
subparagraph (A)--
``(i) shall be geographically specific enough to provide
meaningful differentiation between fuel markets; and
``(ii) shall not organize geographical data in the form of
Petroleum Administration for Defense Districts or other
geographic aggregations lacking sufficient resolution to
ascertain regionally specific market trends or disparities.
``(C) Nondisclosure.--Any analysis published under
subparagraph (A) shall not disclose matters exempted from
mandatory disclosure under section 552(b) of title 5, United
States Code.
``(7) Data-sharing agreements.--
``(A) Federal trade commission.--Notwithstanding subchapter
III of chapter 35 of title 44, United States Code (commonly
known as the `Confidential Information Protection and
Statistical Efficiency Act of 2018'), not later than 1 year
after the date of enactment of this subsection, the
Administrator shall enter into a data-sharing agreement with
the Federal Trade Commission that shall allow any information
collected pursuant to this subsection to be requested by and
transferred to the Federal Trade Commission without
limitation or delay.
``(B) Other federal agencies.--The Administrator may enter
into data-sharing agreements with other Federal agencies that
have energy-related policy decision-making responsibilities,
including the Commodity Futures Trading Commission, the
Federal Energy Regulatory Commission, and the Securities and
Exchange Commission.
``(8) Authorization of appropriations.--There are
authorized to be appropriated to the Administrator to carry
out this section such sums as are necessary for each of
fiscal years 2022 through 2027.''.

The SPEAKER pro tempore. The bill, as amended, is debatable for 1
hour, equally divided and controlled by the chair and ranking minority
member of the Committee on Energy and Commerce or their respective
designees.
The gentleman from New Jersey (Mr. Pallone) and the gentlewoman from
Washington (Mrs. Rodgers) each will control 30 minutes.
The Chair recognizes the gentleman from New Jersey.

General Leave

Mr. PALLONE. Madam Speaker, I ask unanimous consent that all Members
may have 5 legislative days in which to revise and extend their remarks
and include extraneous material on H.R. 7688, the Consumer Fuel Price
Gouging Prevention Act.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from New Jersey?
There was no objection.
Mr. PALLONE. Madam Speaker, I yield myself such time as I may
consume.
Madam Speaker, today, the House is taking action to protect consumers
at the gas pump. This legislation is necessary right now because Big
Oil companies are ripping off the American people.
At a time when Americans are paying record-high prices for gas, Big
Oil is taking advantage of the instability caused by Russia's unjust
war in Ukraine and our ongoing economic recovery from the COVID-19
pandemic to rake in record profits.
The largest four Big Oil companies collectively made $27 billion in
profits during the first quarter of this year. Some of these were
record highs; others were the highest profits in over a decade.
One CEO was so giddy about these profits, Madam Speaker, that he said
his company was ``a cash machine.'' These companies are, indeed, cash
machines.
Last month, the Energy and Commerce Committee held a hearing with the
leaders of the six Big Oil companies. During that hearing, in
questioning from me, all six Big Oil CEOs refused to scale down stock
buybacks, making it abundantly clear that their sole interest is their
profits, even when it comes at the expense of the American people.
Instead of a traditional supply-and-demand economic model, where we
would expect to see these companies ramping up production to meet
rising demand, they are instead using their profits to buy back their
own stock to further pad the pockets of their executives and
shareholders.
Now, if oil companies want to produce right now, nothing is standing
in their way. The oil and gas industry has more than 9,000 approved but
unused drilling permits that could be used for production today.
Instead, Big Oil companies are more interested in funneling billions
to their shareholders and executives than addressing record-high gas
prices. They are gouging consumers, and they are manipulating the
market by deliberately keeping production low, which keeps both prices
and their profits high.
Now, you don't have to take my word for it. Oil and gas executives
themselves admitted as much. In a recent survey, 60 percent of
executives cited investor pressure to maintain capital discipline as
the primary reason they are not increasing production. Only 6 percent--
and I want to stress this--only 6 percent said government regulations
are impeding oil production.
Madam Speaker, the profiteering must end, and that is why the House
must pass the Consumer Fuel Price Gouging Prevention Act. This
legislation will put an end to price gouging, penalize market
manipulators, and bring more transparency to this secretive oil and gas
market. It is a monopoly.
I thank Madam Speaker Porter and Dr. Schrier, for their leadership on
this important legislation, the two sponsors of this bill.
The bill grants the President the power to declare an energy
emergency proclamation. It makes it illegal to sell consumer fuels at
an excessive and exploitive price during an energy emergency. The
Federal Trade Commission would then be empowered to go after both
wholesalers and retailers for price gouging.
It also empowers State attorneys general, including in the U.S.
territories and the District of Columbia, to enforce against price
gouging at the retail level.
Now, this legislation bolsters FTC's ability to crack down on fuel
market manipulation and doubles the maximum penalty for manipulating
wholesale oil markets to up to $2 million a day for each violation.
It also includes provisions that would improve market transparency
and competition, which is so important since a large portion of the oil
and gas pricing is done in the dark. We need to shed light on how these
prices are reached so that we can hold these companies accountable.
Madam Speaker, let me just say, it is time we stopped Big Oil from
ripping off the American people. Let's help lower gas prices at the
pump by passing the Consumer Fuel Price Gouging Prevention Act today.
Madam Speaker, I reserve the balance of my time.
House of Representatives,

Committee on Education and Labor,

Washington, DC, May 18, 2022.
Hon. Frank Pallone,
Chairman, House Committee on Energy and Commerce, House of
Representatives, Washington, DC.
Dear Chairman Pallone: I write concerning H.R. 7688, the
Consumer Fuel Price Gouging Prevention Act. This bill was
primarily referred to the Committee on Energy and Commerce,
and additionally to the Committee on Education and Labor. As
a result of the Committee on the Energy and Commerce having
consulted with me concerning this bill generally, I agree to
forgo formal consideration of the bill so the bill may
proceed expeditiously to the House floor.
The Committee on Education and Labor takes this action with
our mutual understanding that by forgoing formal
consideration of H.R. 7688, we do not waive any jurisdiction
over the subject matter contained in this or similar
legislation, and we will be appropriately consulted and
involved as the bill or similar legislation moves forward so
we may address any remaining issues within our Rule X
jurisdiction. I also request that you support my request to
name members of the Committee on Education and Labor to any
conference committee to consider such provisions.
Finally, I would appreciate a response confirming this
understanding and ask that a copy of our exchange of letters
on this matter be included in the committee report for H.R.
7688 and in the Congressional Record during floor
consideration thereof.
Sincerely,
Robert C. ``Bobby'' Scott,
Chairman.
____

House of Representatives,

Committee on Energy and Commerce,

Washington, DC, May 18, 2022.
Hon. Robert C. ``Bobby'' Scott,
Chairman, Committee on Education and Labor, Washington, DC.
Dear Chairman Scott: Thank you for consulting with the
Committee on Energy and Commerce and agreeing to be
discharged from further consideration of H.R. 7688, the
``Consumer Fuel Price Gouging Prevention Act,'' so that the
bill may proceed expeditiously to the House floor.

[[Page H5182]]

I agree that your forgoing further action on this measure
does not in any way diminish or alter the jurisdiction of
your committee or prejudice its jurisdictional prerogatives
on this measure or similar legislation in the future. I would
support your effort to seek appointment of an appropriate
number of conferees from your committee to any House-Senate
conference on this legislation.
I will ensure our letters on H.R. 7688 are entered into the
Congressional Record during floor consideration of the bill.
I appreciate your cooperation regarding this legislation and
look forward to continuing to work together as this measure
moves through the legislative process.
Sincerely,
Frank Pallone, Jr.,
Chairman.

Mrs. RODGERS of Washington. Madam Speaker, I yield myself such time
as I may consume.
America is in crisis. There is a dangerous baby formula shortage.
Inflation is out of control. Gas prices surpassed $4 a gallon in every
State for the first time ever and are predicted to hit $6 a gallon this
summer.
Let's come together. Let's come together, unleash American energy,
and continue to lead on reducing carbon emissions. We can do both.
Instead, today, the majority is pursuing government price controls on
energy prices while continuing to shut down American energy. This
combination will only make prices and inflation worse.
This scheme comes directly from the playbook of socialist dictators.
Look at places like Soviet Russia, Venezuela, North Korea. These are
the countries that have imposed government price controls.
Well, actually, the United States of America tried this in the 1970s.
We tried this approach, and the result? Shortages, rationing, mile-long
lines for gas. It was an economic and humanitarian crisis.
Again, the majority wants to impose de facto government price
controls. This bill gives President Biden sweeping powers to declare an
energy emergency. We are living right now under a public health
emergency. It is frightening to me.
It would arm the FTC with tools to impose de facto, arbitrary caps on
mom-and-pop gas stations for prices of fuel such as gasoline, diesel,
and propane. It is not going to bring down the price of gas, and it
will only cause further shortages like we experienced in the 1970s.
Yet, even now, President Biden is doubling down as he continues to
shut down American energy. He placed a moratorium on new drilling,
canceled the Keystone XL pipeline, and supported canceling leases in
Alaska and the Gulf of Mexico. This week, it is reported that he is
moving to ease the energy sanctions on Venezuela.
The United States of America is the leading producer of oil and gas.
It is cleaner and abundant.
American workers and companies are eager to start producing more at
home. Why are we increasing energy imports from places like Venezuela?
To offset the disastrous results of shutting down American energy.
Republicans have put forward solutions. We have introduced the
American Energy Independence from Russia Act. I am co-leading this
legislation with the ranking member of the Committee on Natural
Resources, Bruce Westerman.
It would lower costs and protect our national security by flipping
the switch and unleashing American energy. Just this week,
unfortunately, the Democrats blocked, for the sixth time, the vote on
this legislation.
Instead of doing what is necessary to meet energy demands, President
Biden and congressional Democrats are distracting by this bill. The
American people are not falling for it. President Biden's own Secretary
of Energy said: ``I am not sure anyone is saying there is wholesale
gouging.''
The FTC has investigated price gouging in oil and gas markets on and
off for over 100 years, and they have found higher prices are tied to
supply and demand, not widespread price gouging.
Unlike socialist regimes, America has done more to lift people out of
poverty and raise the standard of living than any Nation in the history
of the world. We have achieved this by embracing a system that values
free enterprise and free-market principles for life, liberty, and the
pursuit of happiness for all.
This is the promise of America. This is where we need to come
together and protect this.
I urge my colleagues to work together. Let's unleash American energy
and restore prosperity and optimism for hardworking Americans.
Madam Speaker, I reserve the balance of my time.
Mr. PALLONE. Madam Speaker, I yield 3 minutes to the gentlewoman from
Washington (Ms. Schrier), the chief sponsor of the bill, a member of
our committee, and a pediatrician who has done so much for children and
on this issue as well.
Ms. SCHRIER. Madam Speaker, I thank the chairman for yielding time.
At a time when people in my district and across the country are
feeling the pain of high prices at the gas pump, Congress needs to be
doing all we can to bring down costs.
Gas prices in my neighborhood were already high at $5 a gallon. Now,
for no apparent reason, just over the past week, prices are up another
10 percent, at $5.50 a gallon. Meanwhile, neither the price of a barrel
of oil nor the cost of refining have changed appreciably. This is a
problem.
What is infuriating is that this is happening at the same time that
gas and oil companies are raking in record profits and then putting
those dollars into stock buybacks.
We understand when demand outstrips supply and prices increase, but
here is the thing: Russian oil made up only 8 percent of our portfolio,
but prices at the pump jumped more than 20 percent.
That just feels like gouging. Some might even call it profiteering.
Enough is enough.
Gas and oil companies should be held accountable, should be
transparent about their pricing, and should be penalized for
unconscionable, excessive, or extreme price hikes during a national
emergency.
Many States already have laws on the books that define price gouging
during a time of disaster or emergency, yet no clear Federal law
prevents price gouging.
The Federal Trade Commission needs more tools to crack down on price
gouging and to protect customers. This bill will give the FTC the
ability to go after gas and oil companies and retailers that, in a time
of crisis, jack up prices without justification.
My constituents deserve a fair market, and what is happening right
now feels wrong. It feels like price gouging. The price of a barrel of
oil has fallen in the last month, yet gas prices at the pump are at an
all-time high.

The FTC simply needs to have the power to investigate and to crack
down if and when there truly is evidence of real gouging.
I came to Congress to stand up for the people in my district, and I
will continue to look for opportunities to go to bat for them and get
some relief from the economic pressures we are all facing right now.
Mrs. RODGERS of Washington. Madam Speaker, I might just highlight the
FTC already has existing powers they have used for over 100 years. In
this legislation, ``unconsciously excessive'' is not even defined.
I yield 2 minutes to the gentleman from Ohio (Mr. Latta), a leader on
American energy.
Mr. LATTA. Madam Speaker, I rise in opposition to H.R. 7688.
This bill would task the FTC to act as the arbiter for determining if
price gouging is occurring and then reset the prices, never mind the
fact that the FTC has investigated gas prices for decades and has never
determined that gouging is the reason for price fluctuations.
Since day one, President Biden has made every effort to undermine,
avoid, and restrict oil and gas production in North America.

{time}  0930

He canceled the Keystone XL pipeline, which would have transported
830,000 barrels of oil in every day from Canada to the United States.
He put a moratorium on leases for oil and gas exploration on Federal
lands, as he said he would do during the 2020 campaign.
And he has used the SEC to impose new climate regulations on
investments, which has made it undesirable for individuals or companies
to invest in the fossil fuel industry.
And what was the result? My constituents in Ohio are currently paying

[[Page H5183]]

the highest prices they have ever paid at the pump. There is no doubt
in my mind that these prices would be even higher if Democrats like the
Governor of Michigan had her way and the operation of the Line 5
pipeline in the upper Midwest was shut down.
As the crisis continues, the President's answer is to raid the
Strategic Petroleum Reserve. Since he announced this plan, the average
price of gas has gone from $4.22 to $4.57.
Instead of taking responsibility, President Biden has worked with
House Democrats to again shift the blame through this legislation.
Clearly, his administration's anti-North American energy agenda has
failed the American people and resulted in more money being taken out
of their pockets.
I urge my colleagues to support legislation like the American Energy
Independence from Russia Act, introduced by Republican leaders Rodgers
and Westerman which will unlock North American energy and provide
relief to Americans.
Madam Speaker, I urge a ``no'' vote on this bill.
Mr. PALLONE. Madam Speaker, I yield myself 1 minute.
I just heard my good friend from Ohio say that the FTC hasn't made
any determination in the past about price gouging in the fuel industry.
But that is the point.
In other words, as the sponsor of the bill, Dr. Schrier, mentioned,
what we are doing with this legislation is giving the FTC tools so they
can go after price gouging in the gas and fuel industry because they
don't have those tools right now.
So what I want to stress to my colleagues on the other side is that:
What is the harm in doing this? I mean, some have said, oh--you know, I
hear them say, Well, there is no price gouging. There is no indication
from the FTC that there is price gouging.
That is exactly what we are trying to say, which is we need to give
the FTC the tools so they can look into it and see where the price
gouging exists. So what is the harm in giving them that authority?
I don't see it. I hope my colleagues on the other side are not for
price gouging. I don't think they are, but if you don't give the FTC
the tools, they are not going to be able to do it.
Madam Speaker, I reserve the balance of my time.
Mrs. RODGERS of Washington. Madam Speaker, I yield 1 minute to the
gentleman from Kentucky (Mr. Guthrie), another leader on American
energy.
Mr. GUTHRIE. Madam Speaker, I thank my friend for yielding.
The CEOs of the oil companies testified before a subcommittee of this
committee that they weren't price gouging. They testified under oath.
So we have what we need--if they are price gouging--for the
administration to prosecute. But they are not prosecuting because--
well, I don't know why they are not prosecuting. Perhaps they are not
price gouging.
So we need to spend our energy solving the real issue. Under this
administration, we have lost our energy independence. We are now
dependent on dictators. And if you are dependent on dictators, you make
yourself vulnerable to their actions. And we are vulnerable to what has
happened with Russia and Ukraine.
Just last week, with the highest prices of energy up till last week,
President Biden took even more land out of possible production.
Madam Speaker, let's work together like we did under COVID. We all
came together under COVID for Operation Warp Speed that produced a
vaccine in record time; had the logistics to move it out and move
forward, because we all came together with a whole-government/private-
sector approach.
Let's have an Operation Warp Speed for energy prices, and let's
relieve the prices at the pump that are damaging the most vulnerable
the most.
Mr. PALLONE. Madam Speaker, I continue to reserve the balance of my
time.
Mrs. RODGERS of Washington. Madam Speaker, I yield 1 minute to the
gentleman from Ohio (Mr. Johnson), another leader on unleashing
American energy.
Mr. JOHNSON of Ohio. Madam Speaker, I rise to urge my colleagues to
oppose this shameful legislation, H.R. 7688.
The majority continues to blame ever-rising gasoline prices on
everything except the real source, their own policy failures.
Americans know this all started on January 20, 2021, with President
Biden signing multiple anti-American energy executive orders on day
one. First, Democrats blamed COVID for the increasing gas prices.
Americans didn't buy it.
Then, following Russia's invasion of Ukraine, Democrats tried
spinning it as Putin's price hike. That flopped, too. Today, it is
price gouging.
But they can't even get their fake story straight because President
Biden's Energy Secretary told the House Energy and Commerce Committee
that ``I'm not sure anyone is saying there is wholesale gouging.''
Here is the bottom line. Instead of building pipelines, expediting
permits, and flipping the switch on for American energy production,
Democrats are content to play the blame game rather than helping the
American people deal with skyrocketing inflation. They would rather try
to win a political argument than solve this problem, and that is
shameful.
Mr. PALLONE. Madam Speaker, I yield myself 1 minute.
I seem to be contradicter of the Ohio Members this morning for some
reason. But I just wanted to say, look, this is what we are hearing
from the Republicans. They are saying the problem here is government
regulation.

We had a hearing in the Energy and Commerce Committee. We had the six
oil company executives, and they did not say that the problem was
permits. They did not say the problem was government regulation. If
anything, what most of them said was the reason they are not increasing
production is because they are afraid that if they do, the price is
going to go down, and they are going to lose their shirt.
This decision not to increase production has nothing to do with
government regulation. It has to do with the fact that they know if
they increase production, the price is going to go down, and they are
not going to make as much money.
Madam Speaker, I reserve the balance of my time.
Mrs. RODGERS of Washington. Mr. Speaker, I yield 2 minutes to the
gentleman from Indiana (Mr. Bucshon), who is also another leader on
unleashing American energy.
Mr. BUCSHON. Mr. Speaker, my constituents are paying record-high gas
prices. Today, in Evansville, Indiana, regular unleaded gas is around
$4 a gallon, which is actually low compared to some parts of the
country, while diesel has climbed to nearly $5 a gallon or over.
On average, gas prices in Indiana are over 43 percent higher than
they were this time last year. Yet, today, my colleagues on the other
side of the aisle are calling on their usual game plan for who to blame
when gas prices get too high, price gouging.
Let's be clear: this isn't remotely close to the culprit of why
Hoosiers can't afford to fill up their cars. It has been the numerous
hostile policies of the Biden administration toward American energy
producers that has made difficult supply chain shortages, and the
international disruption caused by the war in Ukraine dramatically
worse and made energy unaffordable at the pump.
Instead of looking at how we can reverse course on these policies, my
friends across the aisle revert back to calling on the FTC to
investigate price gouging at the pump, attempting to get the government
even more involved in this self-inflicted crisis.
The Biden administration is playing right into the hands of Russia
and China by selling off parts of our strategic fuel reserve, pursuing
restrictive energy policies, and attempting to negotiate with corrupt
dictators, most recently in Venezuela, for oil, rather than producing
American energy and getting our country back to the pre-Biden
administration era of energy dominance, not only independence, but
energy dominance, where we were net exporters of energy to our friends.
Now is the time to flip the switch and return to energy independence
and dominance by unleashing American energy. I urge my colleagues to
oppose H.R. 7688, what I will call the socialist energy price fixing
act.

[[Page H5184]]

Mr. PALLONE. Mr. Speaker, I yield 3 minutes to the gentlewoman from
California (Ms. Porter), who is one of the key sponsors of this
legislation.
Ms. PORTER. Mr. Speaker, families across the country are struggling
to keep up with rising gas prices. In Orange County, California, the
price of gas is nearly $6 a gallon, and the price has gone up $2 a
gallon in just 1 year.
As a single working mom, I see the difference every time I fill up
the tank for my minivan. I know that higher gas prices are painful for
everyone in our country, and especially burdensome for families with
limited transportation options and tight budgets.
These higher gas prices are also pushing up the costs for small
businesses and grocery stores, contributing to the higher prices that
families are paying for everything from food to furniture.
Orange County families need Congress to hold oil companies
accountable when they use their market power to unfairly raise prices.
These corporations are making record profits, the highest that they
have been in over 7 years, even as Americans are struggling.
They plan to use these profits to buy back over $35 billion in stock,
rather than investing in production to increase supply, transitioning
to green energy, or bringing down the price at the pump.
The oil and gas industry currently has more than 9,000 permits to
drill for oil on Federal land, but they are deliberately keeping
production low to please their investors and increase their short-term
profits. Even when the price of crude oil falls, oil and gas companies
have refused to pass those savings on to consumers.
Let me be clear: price gouging is anti-capitalist. It exploits a lack
of competition, which is a hallmark of capitalism. It is an effort to
juice corporate profits at the expense of customers. Energy markets are
reeling because of Russia's invasion of Ukraine. Big oil companies,
however, are using this temporary chaos to cover up their abuse.
Congress cannot just allow this profiteering to continue. Two weeks
ago, Representative Schrier and I introduced the Consumer Fuel Price
Gouging Act to give our Federal Trade Commission the authority to crack
down on oil and gas companies that increase prices unfairly.
Current antitrust law prohibits price fixing, but there is nothing in
the law to stop price gouging by individual companies. This bill would
close that loophole, and I urge my colleagues to pass this bill.
Mrs. RODGERS of Washington. Mr. Speaker, unfortunately, this proposal
would do nothing to bring down the price of gas. Democrats--President
Obama, President Biden--for years have said high gas prices are
necessary for them to accomplish their political goals of promoting
green energy and shutting down clean American energy.
Mr. Speaker, I yield 2 minutes to the gentleman from Louisiana (Mr.
Scalise), our whip, a mighty leader on American energy.
Mr. SCALISE. Mr. Speaker, I thank the gentlewoman for yielding.
And here we are, it is another week, and another bill to try to
divert attention away from what Joe Biden himself did to raise gas
prices to the point where families can't even afford to drive to work;
can't even afford to go to the grocery store to pay 15, 20 percent more
for goods because of Biden's inflation.

But let's start from the beginning.
Let me read you a quote from candidate Joe Biden. `` . . . no more
drilling on Federal lands. No more drilling, including offshore. No
ability for the oil industry to continue to drill. Period.'' That was
Joe Biden the candidate.
Unfortunately, day one, he started doing just that, an assault on
American energy. And what has been the result? Dramatically higher gas
prices starting day one when he canceled the Keystone pipeline.
It wasn't just that pipeline. He canceled any new pipelines to move
oil in America. He is not against all pipelines. He greenlighted
Russia's pipeline, let them sell their oil to Europe, canceled ours.
What else did he do? Well, let's just hit a few of the points that
are, by the way, not included in this bill.
So, no new leases on Federal lands. In fact, just last week, amidst
high gas prices, Biden shut down the Gulf of Mexico and Alaska, some of
the richest reserves in the United States, making us more addicted to
foreign oil.
In fact, if anybody is going to be sued for gouging, it should be the
gouger in chief, Joe Biden, who has created this problem. But this bill
doesn't allow him to be sued.
You can sue other people in this bill. You could sue your local gas
station if you don't like the high price of gas, but you can't sue the
person who actually did these things that have increased the price of
gasoline, Joe Biden.

{time}  0945

Let's actually open up America again. Stop relying on foreign
countries for our energy when we can make it here cleaner, better than
anyone in the world, and lower gas prices and address this problem.
This bill doesn't do it. We ought to bring up the bills that actually
fix the problem.
Mr. PALLONE. Madam Speaker, I yield 2 minutes to the gentlewoman from
Florida (Ms. Castor), who is not only on our committee, but chairs the
Select Committee on the Climate Crisis.
Ms. CASTOR of Florida. Madam Speaker, I thank my colleagues
Representative Schrier and Representative Porter for bringing the
Consumer Fuel Price Gouging Act to the floor. It is necessary.
Gas prices are exorbitant because Vladimir Putin invaded Ukraine and
also because greedy fossil fuel companies are price gouging the
American people.
Oil and gas companies are intentionally keeping the price of gas high
because they are able to take those exorbitant profits and pad their
bottom line, they are able to buy back their own stock, and they are
able to provide bonuses to their CEOs.
Meanwhile, they are sitting on 9,000 unused permits, right now. So
don't buy the line that there is something that must be done to provide
dirtier shortcuts to drilling right now. No, it is about what is
happening with these companies.
In Florida, families are paying more than $4.50 per gallon.
Meanwhile, ExxonMobil made $23 billion in the first quarter, Shell over
$19 billion, Chevron over $15 billion, and BP over $13 billion.
But did the oil and gas CEOs provide relief to consumers? No, they
put it in their pockets. They are enriching themselves.
That is why we have got to pass this bill because it needs to stop.
It is why I offered an amendment with Representative Demings to target
price-gouging practices rooted in corporate greed and ensure the
American people are not subjected to such price gouging during times of
national or international crisis or emergencies.
While we fight to lower energy costs and go after price gouging by
the oil and gas corporations and their CEOs, we also need to speed up
clean, cheaper, renewable energy so that petro-despots like Putin and
greedy oil companies do not control our lives and continue to raid our
pocketbooks. I urge my colleagues to vote yes.
Mrs. RODGERS of Washington. Madam Speaker, I yield 1\1/2\ minutes to
the gentleman from Georgia (Mr. Carter), a leader on unleashing
American energy.
Mr. CARTER of Georgia. Madam Speaker, I rise today to oppose H.R.
7688, Washington Democrats' socialist energy price-fixing act.
Citing the lowest level of gasoline production since 2019, J.P.
Morgan is predicting that gas will reach a record $6.20 a gallon by the
end of the summer.
We are already seeing the high sticker price for gasoline ever, and
we haven't even scratched the surface of what this administration is
capable of.
Pain at the pump isn't a cause of the Biden administration's
policies; it is the intended effect. They have admitted it themselves.
The higher gas prices climb, the more affordable electric vehicles and
their Green New Deal policies become.
Rather than incentivizing innovation and helping America unleash its
energy potential, this administration is stripping away the working
class' purchasing power to strong-arm their rush-to-green agenda.
If you have seen President Biden's approval ratings, you know that
plan is

[[Page H5185]]

backfiring, which is why House Democrats are anxiously attempting to
deflect blame on oil companies, casting them as price makers instead of
what they really are, price takers.
This is not the first time government price controls on oil and gas
have been tried. It was the 1970s, and it led to decreased production,
massive shortages and rationing, and mile-long lines at the gas pump.
Washington Democrats want tomorrow's gas stations to resemble today's
empty baby formula shelves.
Socialism is not the answer, it is the enemy. Look no further than
Venezuela and Russia for proof. We must flip the switch. I encourage
everyone to vote against this bill.
Mr. PALLONE. Madam Speaker, I yield 1 minute to the gentleman from
California (Mr. Levin).
Mr. LEVIN of California. Madam Speaker, I rise today in support of
the Consumer Fuel Price Gouging Prevention Act, particularly several
provisions from the bill I introduced.
Americans across the country are feeling the pain of high prices at
the pump, and much of that is the result of what I call the three Ps:
pandemic, Putin, and price gouging.
First, our economy has recovered from the pandemic faster than anyone
expected, and the fuel supply has not kept up with demand; second,
Putin's unjustified war in Ukraine has thrown global oil markets into
turmoil contributing to higher prices here at home; and third, big oil
is taking advantage of the situation to jack up prices at the pump and
rake in record-breaking profits.
While that has helped CEOs and shareholders line their own pockets
with record profits, it has done an incredible disservice to everyday
Americans who are paying for it at the pump.
My provisions of the bill we are considering today strengthen the
Federal Trade Commission's authority to address inflating prices for
consumers and doubles the maximum penalty for any bad actors to $2
million per day for each violation.
Big oil companies should be on notice that they will be held
accountable for taking advantage of the American people.
Mrs. RODGERS of Washington. Madam Speaker, I yield 2 minutes to the
gentleman from South Carolina (Mr. Duncan), a leader on unleashing
American energy.
Mr. DUNCAN. Madam Speaker, these stickers here of Joe Biden keep
popping up on gas pumps all across the Nation. Let me be clear: Joe
Biden absolutely did that. He raised gas prices.
On the campaign trail, he told the American people he was going to
kill the fossil fuel industries, and he is trying to do that. From day
one, he canceled Keystone XL pipeline to provide oil to our refineries;
emboldened Vladimir Putin by greenlighting the Nord Stream 2 project;
suspended oil and gas leasing on Federal lands; delayed permits for
energy infrastructure and pipelines; drained the strategic petroleum
reserve; revoked permits for critical mineral projects; and canceled
oil leases in Alaska and the Gulf of Mexico.

Democrats can try to play the blame game, because your policies are
not working, and you have tried to play the blame game. First, you
blamed it on COVID-19. Then you blamed it on Vladimir Putin and the war
in Ukraine. Now it is price gouging.
Nothing could be further from the truth because this is simple
economics: supply and demand. When we came out of the pandemic, global
demand was going up. But Joe Biden lessened the supply available to our
refineries to meet Americans' needs. Supply and demand. If demand goes
up, supply has got to go up to meet it. If supply goes down, prices go
up because it is a commodity and it is more valuable with a less
supply. Supply and demand.
In fact, I believe every Democrat should go back not to college-level
classes but go take high school-level economic classes. In fact, the
whole Biden administration ought to go back to high school Economics
101.
Supply and demand. It is a commodity. If we raise supply to meet
demand, prices go down. We can do that by unleashing American energy
dominance.
Look where gas prices were before Joe Biden took office. It was
because of an America-first energy policy, not an America-last energy
policy that we see coming out of this administration.
We can solve this, but not by reducing Americans' ability to produce
the natural resources that we have been blessed with in this country.
Unfortunately, we have been cursed by liberal politicians who want to
and are causing Americans to pay more at the pump.
The SPEAKER pro tempore (Ms. Porter). Members are reminded to direct
their remarks to the Chair.
Mr. PALLONE. Madam Speaker, I yield 2\1/2\ minutes to the gentleman
from Rhode Island (Mr. Cicilline), who is a subcommittee chair on the
Judiciary Committee and has done a great job bringing out how so many
large corporations are involved in monopolies and antitrust and market
manipulation, which is exactly what is going on here.
Mr. CICILLINE. Madam Speaker, I thank the gentleman for his time and
kind words.
Madam Speaker, I rise today in strong support of the Consumer Price
Gouging Protection Act.
On the mind of every single American today are soaring gas prices
that are happening all across this country. Just this week, prices hit
$4 or more in every State, draining the wallets of everyday Americans.
Gas companies would like us to think that these prices are rising
solely because of inflation and supply chain issues. But if these
prices were solely based on inflation or supply chain issues, these
companies wouldn't be seeing the record profits they have seen in
recent months.
The real issues are greed, manipulation, and market concentration.
They are trying to take advantage of the pandemic as an opportunity to
raise prices just because they can, and consumers are paying for it.
Exxon reported in the first quarter of 2022 its net profit more than
doubled to $5.5 billion compared to last year. Chevron has reported its
highest quarterly profit in nearly a decade, just to name a few
examples. These profits are a direct expense to American families, many
of whom are struggling just to make ends meet.
This desperately needed legislation will help lower gas prices to a
fair level by cracking down on price gouging and penalizing market
manipulators.
This legislation will directly prohibit exploitative, unconscionable,
excessive prices at the pump which we have seen for months all across
this country.
Rather than trying to blame people and take advantage of this moment,
we should be working together to lower prices for consumers. Instead of
making speeches about how this is Joe Biden's fault, look at the market
concentration, look at the gouging, and do something to help your
constituents by lowering gas prices.
I know it might not be as politically advantageous, but let's do the
right thing and provide real relief to working families who are
struggling with these outrageous prices that are a direct result of
market share, manipulation, and gouging. We can do something about it.
This bill does so. I am proud to be a cosponsor. I urge everyone who
cares about the high price of gas to stop playing the blame game and do
something to help your constituents. This bill will do it.
Mrs. RODGERS of Washington. Madam Speaker, I yield 2 minutes to the
gentlewoman from Arizona (Mrs. Lesko), a leader on unleashing American
clean energy that is abundant.
Mrs. LESKO. Madam Speaker, wow, quite the speech we heard from our
colleagues.
Democrats have shifted the blame of surging gas prices so many times
they can't even keep track of who is to blame or what is to blame.
First they blamed it on COVID. Then they blamed it on Putin.
Remember, they called it the Putin gas hike. Now they are blaming it on
mom-and-pop gas stations who often are just struggling to get by.
The problem is that even Biden's own Secretary of Energy said: ``I am
not sure anyone is saying there is wholesale gouging.'' Oh, Madam
Speaker, yes, that is exactly what your Democrat colleagues are now
claiming.
But Americans are smart. They know the truth. This is the Biden gas
price hike. Let's look at this chart. In the chart right here, gas
prices started rising as soon as Biden took office. It just keeps going
up and up and up and up.

[[Page H5186]]

It is very clear: President Biden's war on American energy and his
radical rush-to-green agenda are the reason that Americans are paying
more for gas at the pump. But instead of taking responsibility for the
radical policies and unleashing American energy, Democrats in this bill
want to use the FTC and State attorneys general to attack small
businesses and take our Nation one step closer to socialism.

Thankfully, Republicans have the answer. It is time to flip the
switch on American energy and reverse the damage Biden and the
Democrats have done. Let's pass the American Energy Independence from
Russia Act, which Democrats have blocked five times. That is the bill
that will lower gas prices at the pump.
Mr. PALLONE. Madam Speaker, I reserve the balance of my time.
Mrs. RODGERS of Washington. Madam Speaker, I yield 2 minutes to the
gentleman from Indiana (Mr. Pence), a leader on unleashing American
cleaner and abundant energy.
Mr. PENCE. Madam Speaker, I rise today in opposition to H.R. 7688
because all I hear about back home is inflation. I hear about
inflation, inflation, inflation, and it is not just gas prices.
Everyone knows back in the Indiana Sixth District that it is not the
Putin price hike, and it is not price gouging; it is out-of-control
Federal spending and out-of-touch liberal policies.
America, pay attention right now. First, it is going to be the oil
companies, then it is going to be the medical industry, then it is
going to be the meat producers, then it is going to be the farmers.
The Democrats are coming for you. They want to take the money out of
your pocket through price-gouging bills instead of fighting and doing
the right thing to fight inflation.
Let's be clear: Their policies are wrong.

{time}  1000

I know a handful of my colleagues on the other side of the aisle know
this is wrong, and I know they are going to vote against this bill.
We must reject this abuse of lawmaking authority and, instead, look
to deregulation for the answers. I urge you to vote ``no.''
Mr. PALLONE. Madam Speaker, I yield 2 minutes to the gentlewoman from
Michigan (Ms. Tlaib).
Ms. TLAIB. Madam Speaker, I rise today to tell the truth, the truth
that most Americans already know: Corporate greed is at the core of
high costs of gas. It is out of control, and our residents deserve us
to do something about it.
In 2021, ExxonMobil profits jumped more than 60 percent over
prepandemic levels to a disgusting $23 billion. The seven largest so-
called supermajors have all seen massive profits and are on track for a
record of $38 billion in stock buybacks and $50 billion in shareholder
dividends this year--stock buybacks while our communities are
suffering.
Our residents are so fed up with corporate greed, and Big Oil execs
are truly lucky that all we are demanding right now is fair prices.
The Consumer Fuel Price Gouging Prevention Act is important because
it empowers our government with the tools that are needed to crack down
on these outrageous behaviors, to recognize what this is all about--
price gouging.
Let's put people first before the corporations. They are struggling.
I represent the third poorest congressional district in the country.
This is disgusting, what we are doing to the American people. It is our
job and responsibility to put them first.
I thank my colleagues, Dr. Schrier, Congresswoman Porter, and
Chairman Pallone, for their leadership and courage to take this on. It
is important, and it is the right time right now to again hold them
accountable.
Mrs. RODGERS of Washington. Madam Speaker, how much time is remaining
on each side of the debate?
The SPEAKER pro tempore. The gentlewoman from Washington has 10\3/4\
minutes. The gentleman from New Jersey has 12 minutes.
Mrs. RODGERS of Washington. Madam Speaker, I yield 2 minutes to the
gentleman from Pennsylvania (Mr. Joyce), a region that is anxious to
unleash clean, abundant American energy.
Mr. JOYCE of Pennsylvania. Madam Speaker, as we stand here today, the
average price of gasoline in my hometown, Altoona, Pennsylvania, has
reached $4.79 per gallon. Now, when I left to come back to Washington
after voting in the Pennsylvania primary on Tuesday, it was 20 cents a
gallon cheaper. I applaud my colleagues for finally recognizing that
gas prices are definitely a problem.
The major price increase didn't occur in a vacuum. On day one of his
Presidency, Joe Biden canceled the Keystone XL pipeline, singlehandedly
destroying thousands of good-paying American jobs and crippling our
energy industry.
Just last week, President Biden doubled down on his mission to crush
American energy producers by canceling three key oil and natural gas
leases. Attempting to reverse the effects of this disastrous policy by
punishing energy companies is a dangerous proposal that would not solve
the crisis that is at hand.
Instead of creating price controls that would lead to less production
and massive gas shortages, we need to rely on the energy that lies
beneath the feet of my constituents in Pennsylvania. Turn energy
production back on here in America.
We should unleash our energy producers to provide the resources that
we need and turn away from socialist crackdowns that continue to hurt
Americans more as time goes on.
Price controls only lead to inflation, and with the worst inflation
in 40 years right now happening, Americans cannot afford price hike
legislation.
Madam Speaker, I oppose this bill, and I urge my colleagues on both
sides of the aisle to vote ``no.''
Mr. PALLONE. Madam Speaker, I continue to reserve the balance of my
time.
Mrs. RODGERS of Washington. Madam Speaker, I yield 4 minutes to the
gentleman from North Dakota (Mr. Armstrong), a region with clean,
abundant American energy, and he is definitely a leader for American
energy.
Mr. ARMSTRONG. Madam Speaker, ever since this administration has
taken office, I have always been confused as to whether their policies
toward domestic energy production are thinly veiled political messaging
points or if they really, truly didn't understand markets.
For the last 2 years, I have gone back and forth as to which one of
those things is actually true. At least today, when we are here, we can
be back to the point where we are talking about thinly veiled messaging
bills, where we get back to the normal operation of how we do majority-
minority politics in the House.
The Biden administration spent their entire administration--and this
is after being on the campaign that the President, while a candidate,
said they will use a whole-of-government approach to shut down the oil
and gas industry.
January 20, 2021: President Biden killed the Keystone XL pipeline.
February 26, 2021: President Biden and the administration inflated
the social cost of carbon to justify onerous regulations of fossil
fuels.
June 1, 2021: President Biden proposed a budget that would increase
taxes on energy producers by over $35 billion a year.
August 11, 2021: President Biden asked foreign operators at OPEC+,
not domestic producers, to increase supply to address rising gas
prices.
October 29, 2021: President Biden and congressional Democrats
proposed a methane tax on all domestic oil and gas production.
November 17, 2021: President Biden tried to redirect the blame for
rising gas prices by requesting the FTC to investigate oil and gas
companies on trumped-up accusations of illegal activity.

February 17, 2022: President Biden's FERC Chairman pushed through
changes making it next to impossible to put midstream infrastructure or
upgrade existing pipeline infrastructure.
March 21, 2022: The SEC, in an attempt to morph into the securities
and environmental commission, issued a proposal that would target
carbon energy companies and empower activist shareholders.
March 28, 2022: President Biden, in the middle of an energy crisis,
once

[[Page H5187]]

again proposed a tax increase on domestic oil and gas producers,
totaling nearly $45 billion.
March 30, 2022: The FDIC Chairman proclaimed that the carbon-emitting
sources of energy present risks to the safety of the financial sector.
This is starting with asking OPEC and doing two releases of the SPR.
None of these things have worked to bring down oil and gas prices
because they simply don't. The last time a refinery to produce gasoline
came online in the United States with any true downstream capacity was
in 1976, the year I was born, 45 years ago.
The irony of this situation is that House Democrats and the Biden
administration are not even on the same page. It is just a coincidence
that a few months ago President Biden asked the FTC, an entity that is
supposed to be an independent commission, to investigate gasoline
prices.
Three weeks ago, the House Energy and Commerce Committee held a
hearing where nearly every Democrat accused companies of price gouging
or, even worse, war profiteering. They seem to have forgotten the fact
that two of the accused companies have absolutely zero refining
capacity and still were accused of this.
A week later, I asked Secretary Granholm whether she agrees with the
false accusation that oil and gas companies are price gouging. In our
hearing, Secretary Granholm stated: ``I am not sure anyone is saying
there is wholesale gouging.'' Yet, here we are today on a bill in the
House saying this.
Listen, there is no secret why this happens. You cannot ask oil and
gas companies, particularly onshore companies, to increase production
when the infrastructure doesn't exist to get that product to market.
You have the Duke pipeline, and you have the Dominion pipeline, both
in Virginia; you had the Williams pipeline moving into New York; you
had the Enbridge line in Minnesota; you have the Enbridge line under
Lake Michigan; you had the Dakota Access Pipeline in North Dakota; and
let us not forget the Keystone XL, which happened on the first day in
office.
There is a truck driver shortage; there is a worker shortage; and
rail is full of coal because coal companies drafted down all of their
excess capacity because nobody wanted to use it, and now it turns out
it is cheaper than natural gas.
The SPEAKER pro tempore. The time of the gentleman has expired.
Mr. ARMSTRONG. Just one quick question. Here is the worst part about
all of this. We can do this. We can do the back-and-forth, but the
simple fact of the matter is this bill will do nothing to bring down
gas prices.
The SPEAKER pro tempore. The time of the gentleman has expired.
Mr. ARMSTRONG. Not one cent.
Mr. PALLONE. Madam Speaker, I yield myself such time as I may
consume.
I just need to dispel what my colleagues on the Republican side are
saying about government regulation.
When we had a hearing which led to this legislation in the Energy and
Commerce Committee, in the Oversight and Investigations Subcommittee,
it was clear that the issue was not government regulation; it was not
lack of pipelines; it was not an inability to export LNG; it was not
permits. And we have a survey beyond that, beyond the hearing where the
oil companies are saying that only 6 percent indicated that government
regulation had anything to do with what was going on with these gas
prices.
It is about the market. It is about supply and demand. The GOP has
mentioned supply and demand consistently here today, but the problem is
that the oil companies don't want to increase production. They don't
want to increase the supply. A couple of them were honest at the
hearing and said: Yeah, we are not increasing production because we are
afraid that if we do, the price is going to go down, and we are going
to go bankrupt, or we are going to lose money.
So, yes, it is a supply-and-demand situation. We as Democrats are
saying, yes, increase production. That is what President Biden has
said, increase production, and he is trying to get them to increase
production. In fact, the production levels today are significantly less
than they were before the COVID pandemic began.
What is happening here is the market is not working because of the
market manipulation by the oil companies because they want to keep the
prices high so that they make more profit.
Now, all I am asking my colleagues on the other side of the aisle to
do is vote for a bill that addresses price gouging. I haven't heard any
of them say they support price gouging. I mean, I hope they don't. But
they say: Oh, that is not the issue.
Well, even if it weren't the issue, or even if you don't think it is
the issue, what is the harm of giving the FTC the authority to go after
oil companies if they are price gouging? What is the harm in giving
them the tools to do that because we believe, and many people believe,
that this is, in fact, going on? Why not give them the tools?
Look at what this bill says. It is very simple. It says that when
prices are ``unconscionably excessive'' or ``the seller is exploiting
the circumstances related to an energy emergency to increase prices
unreasonably,'' why not give the FTC the tools to go after someone who
is charging too much and is unconscionably excessive or exploiting the
circumstances related to the energy emergency to increase prices
unreasonably?
Why not give the FTC the tools to go after that? Even if you don't
think it is happening, let's let them look into it.
This is what the factors are that they are supposed to look at in
determining whether this price gouging takes place: whether the amount
charged by the company, retail or wholesale, ``grossly exceeds the
average price at which the consumer fuel was offered for sale by such
person during the 30-day period before the date on which the
proclamation was issued''; whether the amount charged by the retailer
or wholesaler ``grossly exceeds the price at which the same or a
similar consumer fuel was readily obtainable in the same area from
other sellers during the energy emergency period.''
This is common sense. We are not giving the FTC the authority to set
the price, which is what some of my colleagues said. They are not
setting the price. They are simply looking into whether, in a given
region, the wholesalers or the retailers are gouging. If they are, then
go after them. If they are not, that is fine. That is okay.
But what is the reason not to vote for this legislation? There is no
reason. If gouging is taking place, let's look at it. We believe
strongly that it is taking place. Let us let the FTC have the
opportunity to look at it.
Madam Speaker, I reserve the balance of my time.
Mrs. RODGERS of Washington. Madam Speaker, I yield myself such time
as I may consume.
Madam Speaker, the fact of the matter is, the FTC already has
existing power to investigate, and in fact, this legislation would
essentially allow the FTC leadership to pick whatever point in time
they find appealing to find a price at the pump. This is a distraction.
It does nothing--nothing--to actually bring down the price of gas
that J.P. Morgan says is expected to hit $6.20 this summer.
When the American producers were in front of our committee, they in
fact did say over and over that regulations are making it difficult.
They said: ``We have outstanding permits that, if approved, would
enable us to bring even more production'' on very soon.
Madam Speaker, I yield the remainder of my time to the gentleman from
Arkansas (Mr. Westerman). He and I are leading on the American Energy
Independence from Russia Act.

{time}  1015

Mr. WESTERMAN. Madam Speaker, I thank the gentlewoman for yielding.
Madam Speaker, if you don't know where you are going, you will end up
someplace else.
Even though he had a strange way of expressing it, even Yogi Berra
understood the importance of planning.
Abraham Lincoln got it, he said that if you gave him 6 hours to chop
down a tree, he will spend the first hour sharpening the ax.
My colleagues across the aisle don't seem to understand this, but we
should all get it.
The current 5-year Outer Continental Shelf Oil and Gas Leasing Plan
is set to expire on June 30, and we have no plan going forward. Energy
security and

[[Page H5188]]

independence doesn't just happen by chance. It takes careful planning
and thorough execution.
In my freshman introductory class to engineering, they taught us the
problem-solving method: Define the problem, come up with a plan, and
execute the plan. It is pretty simple.
Yet, President Biden and his administration has run roughshod over
American energy resource development. They have been hamstringing
energy production at every turn. As it has been said on this floor many
times, on day one, President Biden halted and shut down the Keystone XL
pipeline. Week one, President Biden halted all on- and offshore oil and
gas leases.
Just last week, with everything going on, President Biden canceled
the two remaining court-ordered offshore lease sales in the current 5-
year plan.
I think what we have seen as a result of this administration's
tactics is something that Yogi Berra would describe as inflation, like
it is 1970s Democrat deja vu all over again. Now Congressional
Democrats are trying to prop up these tired, failed policies by
targeting oil and gas industries for alleged price gouging.
Madam Speaker, that is not a plan. It is an agenda. Ben Franklin said
it. He said, If you fail to prepare, you are preparing to fail. The
Democrats and the administration are planning energy failure.
The hypocrisy is astounding. Time and time again, Democrats will
penalize, restrict, cut off, tax, and burden American energy industries
and yet, somehow they are still shocked when the price of gas rises.
Madam Speaker, I urge my colleagues across the aisle to abandon their
radical energy agenda, and for once, work with us on an actual energy
plan.
John F. Kennedy said, ``The time to repair the roof is when the Sun
is shining.''
Madam Speaker, the storm clouds are gathering and there is a big hole
in the roof. Fortunately, some of my colleagues on the other side of
the aisle are finally seeing reason.
Just two weeks ago, several Democrat Members representing Texas
districts sent a letter to President Biden pleading with him to
purchase a new 5-year plan to allow offshore energy production to
continue. That is exactly what today's MTR would accomplish. America is
already producing energy safer, cleaner, and cheaper than anywhere else
in the world. Why on earth would Congressional Democrats want that to
continue?
Madam Speaker, if we adopt this motion to recommit, Republicans will
instruct the Committee on Energy and Commerce to consider my amendment,
which would require the Secretary of the Interior to publish a 5-year
Outer Continental Shelf Oil and Gas Leasing Plan for 2022 through 2027,
as the law already requires.
Madam Speaker, I ask unanimous consent to insert the text of the
amendment into the Record immediately prior to the vote on the motion
to recommit.
The SPEAKER pro tempore. Is there objection to the request of the
gentleman from Arkansas?
There was no objection.
Mr. PALLONE. Madam Speaker, I reserve the balance of my time.
Mrs. RODGERS of Washington. Madam Speaker, may I inquire how much
time is remaining?
The SPEAKER pro tempore. The gentlewoman has 15 seconds remaining.
Mrs. RODGERS of Washington. Madam Speaker, I will just remind the
body that this legislation will not bring down the price of gas that is
headed to $6.20 this summer.
Let's work together. We can unleash American energy. It is clean. It
is abundant. We can do both. We can lead in unleashing American energy
while continuing to bring down carbon emissions. It is not an either-
or. Let's work together. Let's get it done. Let's reject this bill.
Madam Speaker, I yield back the balance of my time.
Mr. PALLONE. Madam Speaker, may I inquire how much time is remaining?
The SPEAKER pro tempore. The gentleman has 7\1/2\ minutes remaining.
Mr. PALLONE. Madam Speaker, I yield myself such time as I may consume
to close.
Madam Speaker, let me just say to the ranking member and the Members
on the Republican side of the Committee on Energy and Commerce, you
know I respect you a great deal, but I simply do not agree that the FTC
already has the power to go after price gouging in the oil industry.
What we are doing with this legislation is giving them that power,
making it clear that the President can declare an emergency for a
period of time when he believes that there is an energy crisis, which I
don't think there is any question that there is. He can give the FTC
the authority by declaring that emergency to go after price gouging.
I believe very strongly that is what we are seeing. I think it is
proven by the fact that the oil companies admit that they are not
necessarily interested in increasing production.
Again, my response to my colleagues on the other side, is whether or
not you think this is going to be effective or not, what is the harm in
giving the FTC this additional authority so they can look and
investigate and determine whether price gouging has existed? I don't
think they have those tools now without this legislation.
What we are doing is trying to give whatever tools are possible to
the Federal Government, to Federal agencies to try to do what we can to
bring down prices. That is why I would urge their support for this
legislation.
Madam Speaker, I listened to what the gentleman from Arkansas said.
He said that he wants to be a problem-solver. Well, the problem here is
that the oil companies are causing the problem. They are not solving
the problem; they are causing the problem. If we want to be problem-
solvers, we have to step in and take some action to prevent the
continued gouging and raising of prices and the huge profits that they
are making at the expense of the American people.
Madam Speaker, the bottom line is that the oil companies can increase
production now. There are all kinds of leases that they now have. They
can increase production with existing leases that they already have.
Where they are already producing oil, they can produce more. There are
at least 9,000 other leases out there that they haven't used at all.
Madam Speaker, the other side can talk about the pipelines and
permits and all these other government regulations that they claim are
preventing the oil companies from increased production, but that is not
the case. The oil companies are not saying that.
In fact, when we had the hearing, they said exactly the opposite.
They said that they are afraid that if they increase production that
they are going to lose money because the price will go down. Many of
them said exactly that.
I think that is the problem that we face here, is that they want to
keep the price high so they can continue making these record profits
like we have never seen before.
Madam Speaker, I am simply asking Members on both sides of the aisle,
if you care about these rising gas prices, if you don't think that the
companies should be able to gouge the American people, for either of
those reasons, you should be voting for this bill.
Madam Speaker, I think this is a very important piece of legislation
that will give the Federal Government the tools to try to bring prices
down. There is absolutely no reason why we shouldn't have Members on
both sides of the aisle supporting this because it is a good bill that
will make a difference.
Madam Speaker, I yield back the balance of my time.
The SPEAKER pro tempore. All time for debate has expired.
Each further amendment printed in part C of House Report 117-333
shall be considered only in the order printed in the report, may be
offered only by a Member designated in the report, shall be considered
as read, shall be debatable for the time specified in the report
equally divided and controlled by the proponent and an opponent, may be
withdrawn by the proponent at any time before the question is put
thereon, shall not be subject to amendment, and shall not be subject to
a demand for division of the question.

Amendment No. 1 Offered by Mrs. Demings.

The SPEAKER pro tempore. It is now in order to consider amendment No.
1 printed in part C of House Report 117-333.
Mrs. DEMINGS. Madam Speaker, I have an amendment at the desk.

[[Page H5189]]

The SPEAKER pro tempore. The Clerk will designate the amendment.
The text of the amendment is as follows:

At the end of the bill, add the following:

SEC. 3. FTC INVESTIGATION AND REPORT ON GASOLINE PRICES.

(a) Investigation.--
(1) In general.--The Federal Trade Commission shall conduct
an investigation to determine if the price of gasoline is
being manipulated by reducing refinery capacity or by any
other form of market manipulation or artificially increased
by price gouging practices.
(2) Consideration.--In conducting the investigation under
paragraph (1), the Federal Trade Commission may consider the
impact of mergers and acquisitions in the oil and gas
industry, including mergers and acquisitions involving
producers, refiners, transporters, and gas stations.
(b) Report.--Not later than 270 days after the date of the
enactment of this Act, the Federal Trade Commission shall
submit to Congress a report on the investigation conducted
under subsection (a), including a long-term strategy for the
Commission and Congress to address manipulation of oil and
gas markets during times of national or international crisis
or emergency.
(c) Exemption From Paperwork Reduction Act.--Chapter 35 of
title 44, United States Code, shall not apply to the
collection of information under subsection (a).
(d) Authorization of Appropriations.--There is authorized
to be appropriated to the Federal Trade Commission to carry
out this section $1,000,000 for fiscal year 2023.

The SPEAKER pro tempore. Pursuant to House Resolution 1124, the
gentlewoman from Florida (Mrs. Demings) and a Member opposed each will
control 5 minutes.
The Chair recognizes the gentlewoman from Florida.
Mrs. DEMINGS. Madam Speaker, thank you for this opportunity to offer
this amendment.
We all know on both sides of the aisle that families across America,
and certainly in my home State of Florida, are working hard to make
ends meet. But at the same time, we also see the biggest oil and gas
companies racking up record profits.
As a matter of fact, according to Business Insider, five companies'
first-quarter profits alone are equivalent to almost 28 percent of what
America spent to fill up their gas tanks in the same time period.
Now, just think about that. Now, don't get me wrong, in America,
people in business should have the opportunity to make a profit. But we
must also make sure that corporations, especially during times of
emergency and times of crisis, are not taking advantage of working
families. And if they are, they must be held accountable.
Madam Speaker, this amendment would require the Federal Trade
Commission to study past activity, to see whether market manipulation,
anticompetitive conduct, unfair and deceptive practices, and just
plain, old price gouging have contributed in the past to high gas
prices, especially when the American people are hurting.
Madam Speaker, I would expect my colleagues on the other side of the
aisle to support this amendment because this study would certainly
reveal the truth, the facts. Good actors would have nothing to worry
about because their actions would clear them, but it would also pave
the way for much-needed accountability. Bad actors would be held
accountable.
Madam Speaker, I am trying to figure out who exactly are my
colleagues on the other side of the aisle defending? Who are they
protecting? Who are they fighting for? It should be the American
people.
As Members of Congress, we must provide the oversight necessary to
protect consumers. That is our job, not to protect corporations,
especially during challenging times. Let's protect the American
consumer during good and challenging times. Let's take a look at the
behavior that they have already engaged in to pave the way for
necessary action moving forward.
Madam Speaker, I urge my colleagues to support this amendment on
behalf of American families that are struggling.
Madam Speaker, I reserve the balance of my time.
Mrs. RODGERS of Washington. Madam Speaker, I claim the time in
opposition to the amendment.
The SPEAKER pro tempore. The gentlewoman is recognized for 5 minutes.
Mrs. RODGERS of Washington. Madam Speaker, I reserve the balance of
my time.
Mrs. DEMINGS. Madam Speaker, I am prepared to close.
Madam Speaker, this is a critical moment for our Nation. It is
certainly not a time to play politics. This is not a moment about the
next election. This is a moment for us to do our jobs today and protect
the people who voted for us and sent us to Congress in the first place.
I don't know how my colleagues do it on the other side of the aisle,
but corporations are not people.
Madam Speaker, I hear from constituents in my district every day
about the unbelievable prices that they have to pay, certainly, at the
gas pumps.

{time}  1030

Now, I repeat, I am not sure exactly, Madam Speaker, who my
colleagues are fighting so hard to defend, who they are fighting or
what, what they are fighting so hard to defend and to protect.
Right now as we are having this debate on the floor, there are
constituents for all of us all over this country who are struggling,
worried about how to pay their bills, how to fill up their gas tanks so
they can go to work, they can go to the pharmacies to get much-needed
medication, they can take their children to school.
Who are we here to protect and fight for? Well, I would remind my
colleagues on the other side of the aisle that our primary
responsibility is to the American people.
Madam Speaker, I urge my colleagues on both sides of the aisle to
support this amendment. Let's look at past behavior to determine future
behavior.
Mrs. RODGERS of Washington. Madam Speaker, I yield myself such time
as I may consume.
The FTC already has significant authority. Its specific investigative
powers are defined in sections 6, 9, and 20 of the FTC Act, 15 U.S.C.
sections 46, 49, and 57b-1. In addition, the premerger notification
provisions in section 7A of the Clayton Act prohibit consummation of
covered acquisitions until the parties provide the FTC with the
requested information.
The FTC has investigated price gouging, gas price gouging before, and
has not found widespread price gouging.
This amendment will distort the market further and discourage
domestic production of energy and prevent the creation of new American
jobs. The underlying legislation in this amendment is a distraction.
Unfortunately, this bill never had a hearing in the Energy and
Commerce Committee. The Speaker abused her power and ignored the work
of the Energy and Commerce Committee members.
Let's work together. We can unleash American energy in Pennsylvania,
North Dakota, and Texas rather than asking Venezuela, Iran, and OPEC to
produce more.
I wish the Democrats would have made in order the amendment that
Bruce Westerman--the ranking Republican on the Natural Resources
Committee--and I have introduced to unleash American energy, the
American Energy Independence from Russia Act. It would restart the
leasing on Federal lands and waters. It would reinstate pipelines in
America. It would eliminate regulatory barriers to U.S. LNG exports. It
would protect critical mineral developments in the United States.
I yield such time as he may consume to the gentleman from Texas (Mr.
Pfluger), a leader on unleashing American energy in Texas and beyond.
Mr. PFLUGER. Madam Speaker, I rise today in strong opposition of H.R.
7688, the Democrats' attempt to redirect blame for the consequences of
their poor energy policies.
It is really kind of hard to believe that we are actually having a
discussion about capitalism here. That is at the essence of this
discussion. We have a chart on the other side of the aisle that
describes the profits that are being made by corporations, and I also
heard something that is interesting, that corporations are not people.
Well, try telling that to the 10 million people who work in this
industry that they are not people, that their actions don't employ
people. I think that is a very misguided statement.
But accusing the oil and gas producers who operate in a global market
of price gouging, let me ask a question: Does anybody remember what
happened on April 20 of 2020, and was there

[[Page H5190]]

a hearing held in this House of Representatives before I was elected on
April 20, when prices went negative 38? Was there a price gouging
hearing on capitalism, on premarket principles when prices went to
negative 38, and hundreds of thousands of Americans lost their job due
to market forces? Was there a hearing on that day, and now we are
putting up a slide that talks about profits?
Are we anticapitalists here? Is that what the message is to those 10
million people in this industry, that they are not allowed to make a
profit? No, that is not the question that the 2 million Texans that
participate in this industry would ask.
What they would ask, along with former Obama adviser Jason Furman,
the chairman of the Council of Economic Advisers, who has clearly said
that there is not price gouging. That is coming from President Obama's
lead adviser. I am not sure what else we need on the other side of the
aisle to put this in a bin and discard it.
Madam Speaker, the solution to high energy prices is getting rid of
the overbearing regulatory environment that is absolutely preventing
pipelines like the Mountain Valley Pipeline from delivering energy to
places like New York where gas prices are now exceeding $5, maybe $6.
Instead of promoting more production at home, in my home in Texas
like the Permian Basin, this White House is canceling lease sales, and
they are talking about, well, we have 9,000 leases. You know what we
need? 90,000 leases, not 9,000. Anybody who knows anything about this
industry understands that 9,000 leases don't get the job done. It is
90,000 leases that are needed to reduce the cost to help the American
consumer to get back to what we had in 2016 to 2020, which was American
energy dominance. That is the real problem here.
The American public is not buying this argument. The American public
is not buying it. Let's set a real national energy strategy for our
country to secure energy independence once and for all instead of
pandering to countries like Venezuela and Iran.
Mrs. RODGERS of Washington. Madam Speaker, I yield back the balance
of my time.
The SPEAKER pro tempore. Pursuant to House Resolution 1124, the
previous question is ordered on the amendment offered by the
gentlewoman from Florida (Mrs. Demings).
The question is on the amendment offered by the gentlewoman from
Florida (Mrs. Demings).
The question was taken; and the Speaker pro tempore announced that
the ayes appeared to have it.
Mrs. RODGERS of Washington. Madam Speaker, on that I demand the yeas
and nays.
The SPEAKER pro tempore. Pursuant to section 3(s) of House Resolution
8, the yeas and nays are ordered.
Pursuant to clause 8 of rule XX, further proceedings on this question
are postponed.

Amendment No. 2 Offered by Mr. Pappas

The SPEAKER pro tempore. It is now in order to consider amendment No.
2 printed in part C of House Report 117-333.
Mr. PAPPAS. Madam Speaker, I have an amendment at the desk.
The SPEAKER pro tempore. The Clerk will designate the amendment.
The text of the amendment is as follows:

Add at the end of the bill the following:

SEC. 3. TRANSPORTATION FUEL MONITORING AND ENFORCEMENT WITHIN
THE FEDERAL TRADE COMMISSION.

(a) Establishment of the Transportation Fuel Monitoring and
Enforcement Unit.--
(1) In general.--The Commission shall establish within the
Commission the Transportation Fuel Monitoring and Enforcement
Unit (in this section referred to as the ``Unit'').
(2) Duties of the unit.--
(A) Primary responsibility.--The primary responsibility of
the Unit shall be to assist the Commission in protecting the
public interest by continuously and comprehensively
collecting, monitoring, and analyzing crude oil and
transportation fuel market data in order to--
(i) support transparent and competitive market practices;
(ii) identify any market manipulation, reporting of false
information, use of market power to disadvantage consumers,
or other unfair method of competition; and
(iii) facilitate enforcement of penalties against persons
in violation of relevant statutory prohibitions.
(B) Specific duties.--In order to carry out the
responsibility under subparagraph (A), the Unit shall assist
the Commission in carrying out the following duties:
(i) Receiving, compiling, and analyzing relevant buying and
selling activity in order to identify and investigate
anomalous market trends and suspicious behavior.
(ii) Determining whether excessive concentration or
exclusive control of energy-related infrastructure may allow
or result in anti-competitive behaviors.
(iii) Gathering evidence of wrongdoing against any person
in violation of the statutory prohibitions on market
manipulation and false information established in, and
consistent with, subtitle B of title VIII of the Energy
Independence and Security Act of 2007 or any other applicable
provisions of the Federal Trade Commission Act (15 U.S.C. 45
et. seq.).
(iv) Obtaining a data-sharing agreement with the Energy
Information Administration that includes the data collected
in accordance with section 205(n) of the Department of Energy
Organization Act (42 U.S.C. 7135).
(v) Obtaining data-sharing agreements with the Commodities
Futures Trading Commission, the Federal Energy Regulatory
Commission, and as necessary and practicable, State energy
offices or commissions, and relevant public and private data
sources that will allow the Commission to receive and archive
information on--

(I) crude oil and transportation fuel buying and selling
activity;
(II) individual physical and financial market positions of
market participants regarding crude oil and transportation
fuel;
(III) refinery output, capacity, and inventory levels of
crude oil and transportation fuel;
(IV) imports and exports of crude oil and transportation
fuel within regions and at levels that could impact prices
faced by consumers;
(V) public announcements by energy companies of planned
pricing or output decisions regarding crude oil and
transportation fuel; and
(VI) other relevant market information that will facilitate
the gathering of evidence described in clause (iii),
including sufficient market information necessary to monitor
for cross-market manipulations that may include multiple
financial and physical market positions.

(vi) Any other information determined appropriate by the
Commission to carry out the responsibility under subparagraph
(A).
(b) Definitions.--In this section:
(1) Commission.--Other than in subsection (a)(2)(B)(v), the
term ``Commission'' means the Federal Trade Commission.
(2) Transportation fuel.--The term ``transportation fuel''
includes gasoline, distillate fuels (including heating oil),
jet fuel, aviation gasoline, and biofuel (including ethanol,
biomass-based diesel and distillates, and renewable blending
components).
(c) Regulations.--Not later than 90 days after the date of
enactment of this Act, the Commission shall promulgate
regulations to carry out this section.
(d) Authorization of Appropriations.--There is authorized
to be appropriated to the Commission such sums as may be
necessary for each of fiscal years 2022 through 2027 to carry
out this section.

The SPEAKER pro tempore. Pursuant to House Resolution 1124, the
gentleman from New Hampshire (Mr. Pappas) and a Member opposed each
will control 5 minutes.
The Chair recognizes the gentleman from New Hampshire.
Mr. PAPPAS. Madam Speaker, I yield myself such time as I may consume.
I rise to offer an amendment to prevent price gouging and to lower
fuel prices at the pump.
Families across my home State of New Hampshire are seeing gas prices
rise higher and higher to an average of more than $4.62 a gallon today.
Yet, while they confront tighter and tighter budgets, oil companies
continue to rake in record profits and pay out huge dividends to
stockholders.
One oil CEO has observed that his company is ``a cash machine.'' His
peers would agree. Four of the largest Big Oil companies collectively
made $27 billion in profits during the first quarter alone this year.
During testimony before the Energy and Commerce Committee last month,
six Big Oil CEOs refused to scale back stock buybacks and help lower
prices at the pump.
These companies would keep overcharging consumers, our families, and
our small businesses, in order to keep generating higher and higher
profits.
Despite the fact that the price of crude oil fell over the past
month, the price consumers pay at the pump has continued to escalate.
Markets are supposed to be responsive to supply and demand, but in the
face of renewed demand as we have gotten people vaccinated and reopened
our businesses and gotten America back on track, Big Oil would rather
keep prices and profits high than to increase supply for families in my
State.
The amendment that I am offering today will enact legislation that I

[[Page H5191]]

helped introduce along with Congressman   Mike Levin, the
Transportation Fuel Market Transparency Act. It will establish a new
unit at the Federal Trade Commission devoted to protecting the public
interest by monitoring fuel markets to facilitate transparent and
competitive market practices, target fuel market manipulation, and
enable the FTC to hold bad actors accountable.
The FTC should be able to go after oil companies if they willfully
inflate the price of gasoline or manipulate the market. We must use
every resource and every tool possible to address high costs for
consumers.
It is unacceptable that while Americans struggle and sacrifice, oil
and gas companies are maximizing profits. And they are doing it at a
time that we are recovering from a global pandemic, and we are seeing a
Russian invasion of Ukraine.
Nothing is standing in the way of oil companies expanding production.
The problem isn't government regulation; the problem is Big Oil keeping
supply artificially low and prices artificially high. Americans have
had enough.
We have to do all we can to give our constituents the relief that
they deserve. I urge my colleagues to support this commonsense
amendment, and I reserve the balance of my time.
Mrs. RODGERS of Washington. Madam Speaker, I claim the time in
opposition to the amendment.
The SPEAKER pro tempore. The gentlewoman from Washington is
recognized for 5 minutes.
Mrs. RODGERS of Washington. Madam Speaker, I reserve the balance of
my time.
Mr. PAPPAS. Madam Speaker, I urge adoption of this amendment and
underlying legislation.
Madam Speaker, I yield back the balance of my time.
Mrs. RODGERS of Washington. Madam Speaker, this amendment further
weaponizes the FTC to go after any businesses involved in the energy
supply chain, even those businesses that have no control over the price
of gasoline and other energy commodities.
This amendment is unnecessary. The FTC already has significant powers
to investigate true price gouging via its authority guarding against
``unfair and deceptive acts and practices.''
Today's historically high gas prices are not a price-gouging issue.
This is a clear issue of the anti-American energy policies of the Biden
administration and those that are compromising energy security in the
United States and subjecting American families to pain at the pump.
We need to flip the switch on American oil and gas production. The
American Energy Independence From Russia Act that Congressman Bruce
Westerman--the ranking Republican on the Natural Resources Committee--
and myself have introduced has been rejected five times already.
This legislation would restart oil and gas leasing on Federal lands
and waters; reinstate the Keystone XL pipeline; increase LNG exports by
removing regulatory barriers and protect critical mineral development
in the United States.
This is the way that we unleash American energy. This is the way that
America becomes energy independent once again. This is the way that
America continues to lead in clean, abundant American energy.

Madam Speaker, I yield such time as he may consume to the gentleman
from Texas (Mr. Pfluger).
Mr. PFLUGER. Madam Speaker, I thank the ranking member for her
leadership on this issue.
Let's talk about keeping prices artificially low. Keeping prices
artificially low is the policy of the Biden administration to attack
the oil and gas industry to keep supply low. That is the policy of the
administration.
The all-out assault that started on January 20 of 2021 by canceling
the Keystone Pipeline while greenlighting the Nord Stream pipeline has
further weakened the United States and our allies and partners.
When President Zelenskyy was asked--and I personally asked him this
question about what Nord Stream meant to him--he said that without Nord
Stream that Russia would not have the impetus or the leverage to invade
Ukraine. That was 18 to 20 days prior to the invasion.
So I ask my colleagues on the other side of the aisle if their next
amendment is to prevent American companies from making a profit? Maybe
that is the next amendment that we are going to see because the
American public is not buying this.
Biden's failed policies on energy have weakened the United States to
such a degree that it has now been reported widely and today that we
are going to enter one of the most horrific energy crises that we face
in the United States and beyond. Europe is already going through this.
Their failed policies 20 years ago led to their point of paying $25 for
an MCF of gas. That is five times greater than what we pay here in the
U.S.
To respond to my colleagues on the other side of the aisle, President
Biden's own energy expert has said that the worldwide capacity to
increase production is less than 2 percent. That is worldwide. And
right here in the United States when you look at the ESG issues and the
assault on capital and access to capital, we do need an investigation,
and the investigation needs to look into that assault. It needs to look
into the picking of favorites that this administration has used and the
weaponization of every tool possible.

{time}  1045

American energy security is national security. It is time to put
Midland over Moscow--not the opposite way.
Mrs. RODGERS of Washington. Madam Speaker, bottom line, this
amendment and the underlying bill will do nothing to bring down the
price of gas. Unfortunately, Americans are experiencing it every single
time that they go to the pump.
Madam Speaker, I urge--I urge the majority to change the direction,
let's unleash American energy. We can produce more in the United States
of America. We can bring down the price of gas. We can provide relief
to hardworking Americans that every time when they go to the gas pump
right now they are seeing a new record. It is $80 to fill up. In fact,
they don't even fill up anymore because they cannot afford it.
American energy independence is critical to our economy and it is
critical to our national security. We need to take heed of what is
happening in Europe and Putin's aggression in Ukraine. American energy
and American energy independence is critical to our future.
Democrats have long said high gas prices are part of their agenda.
President Biden and the Democrats have said: We need high gas prices in
order to accomplish this new energy agenda that we see imposed upon us
right now that is causing the high gas prices.
Madam Speaker, reject the amendment and reject the underlying bill,
and I yield back the balance of my time.
The SPEAKER pro tempore. Pursuant to House Resolution 1124, the
previous question is ordered on the amendment offered by the gentleman
from New Hampshire (Mr. Pappas).
The question is on the amendment offered by the gentleman from New
Hampshire (Mr. Pappas).
The question was taken; and the Speaker pro tempore announced that
the ayes appeared to have it.
Mrs. RODGERS of Washington. Madam Speaker, on that I demand the yeas
and nays.
The SPEAKER pro tempore. Pursuant to section 3(s) of House Resolution
8, the yeas and nays are ordered.
Pursuant to clause 8 of rule XX, further proceedings on this question
are postponed.

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