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S 1263 110th Congress Senate Energy Commerce Crime and Law Enforcement Economic statistics Economics and Public Finance Emergency Management Energy prices Energy shortages Energy supplies Fines (Penalties) Fraud Gasoline Government Operations and Politics Government paperwork Government statistics Law Parties to actions Petroleum Petroleum industry Profit

Petroleum Consumer Price Gouging Protection Act

Introduced: May 2, 2007 Introduced by: Cantwell, Maria Democratic · Washington See on congress.gov
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 2, 2007
Read twice and referred to the Committee on Commerce, Science, and Transportation.
May 2, 2007
Introduced in Senate
 Plain-English summary Congressional Research Service

Petroleum Consumer Price Gouging Protection Act - Declares it unlawful for a supplier to sell crude oil, gasoline, or petroleum distillates at an unconscionably excessive price in an area the President declares an energy emergency area.

States it is unlawful for any person to employ, in connection with the wholesale purchase or sale of crude oil, gasoline, or petroleum distillates, any manipulative or deceptive device or contrivance in contravention of Federal Trade Commission (FTC) rules.

States it is unlawful for any person to report information to the FTC related to the wholesale price of crude oil, gasoline, or petroleum distillates if the person: (1) knows, or reasonably should know, the information to be false or misleading; and (2) intends the false or misleading data to affect market data compiled by the FTC for statistical or analytical purposes.

Authorizes the President to declare a federal energy emergency if the well-being of U.S. citizens is at risk because of a shortage or imminent shortage of adequate supplies of crude oil, gasoline, or petroleum distillates because of: (1) a disruption in the national distribution system; or (2) significant pricing anomalies in the national energy markets for such products.

Empowers the FTC and state attorneys general to enforce this Act.

Declares that this Act does not preempt state law.

Sets forth civil and criminal penalties for violations of this Act.

What's happening now May 2, 2007

Read twice and referred to the Committee on Commerce, Science, and Transportation.

 Committees of jurisdiction 1