H.R. 2944 · 109th Congress
Gross Overcharging Undermines Gasoline Economics Act
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
HastingsSponsor4 cosponsors · 4 D
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Gross Overcharging Undermines Gasoline Economics Act - Prohibits retail sales of gasoline for a price that exceeds the base price index multiplied by twice the rate of inflation, as adjusted according to a certain regional price structure index.
What it does: CRS summary · Introduced in House · Jun 16, 2005
Gross Overcharging Undermines Gasoline Economics Act - Prohibits retail sales of gasoline for a price that exceeds the base price index multiplied by twice the rate of inflation, as adjusted according to a certain regional price structure index.
Instructs the Secretary of Energy to: (1) develop a regional price structure index to reflect regional variances in gasoline reformulation requirements and transportation costs; and (2) assess a civil penalty for a violation of this Act.
Directs the Federal Trade Commission to report annually to Congress on: (1) passive and active collusion to set gasoline prices;(2) antitrust practices throughout all supply chains in the oil industry; and (3) recommendations to protect consumers against gasoline price gouging.
Prohibits the Secretary from acquiring new petroleum products for, or placing any petroleum products in, the Strategic Petroleum Reserve (SPR).
Directs the Secretary to release from the SPR one million barrels of oil per day.
Establishes the Pricing and Economic Impact Commission to report to Congress on the effect of this Act upon: (1) domestic oil production; (2) foreign oil imports; (3) profits of the oil industry; (4) inflation; (5) employment; (6) economic growth; (7) federal revenues; and (8) national security.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Gross Overcharging Undermines Gasoline Economics Act
Latest action (Jul 1, 2005): Referred to the Subcommittee on Energy and Air Quality.
Policy area: Energy · Origin: House · Introduced: Jun 16, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.