House Democrats Buckle Under Pressure from Big Oil, Strip Down Price Gouging Bill

[marmar]

From the Corporate Crime Reporter, via CommonDreams:


Published on Thursday, May 24, 2007 by Corporate Crime Reporter
House Democrats Buckle Under Pressure from Big Oil, Strip Down Price Gouging Bill
The Corporate Crime Reporter

Behold the spineless Democratic Party.On Iraq, no deadlines.

On trade, no enforceable worker protections.

Now, today, on oil industry price gouging, collapse.

In the face of withering pressure from the oil industry, the Democrats in the House, led by Congressman Bart Stupak (D-Michigan), have reportedly castrated their own legislation.

Stupak’s original bill – HR 1252 – would make it unlawful to sell crude oil, gasoline, natural gas, or petroleum distillates at a price that “is unconscionably excessive” or “indicates the seller is taking unfair advantage unusual market conditions (whether real or perceived) or the circumstances of an emergency to increase prices unreasonably.”

The law would be enforced by the Federal Trade Commission (FTC).

But according to a report by Darren Goode in Congress Daily AM, late last night, Stupak “added a trigger to his bill allowing the FTC to go after price gougers only during presidentially-declared energy emergencies.”

In other words – almost never. .....(more)

The complete piece is at: http://www.commondreams.org/archive/2007/05/24/1417/

[HereSince1628]

1. Why not? Caving in has consequences.

We have yet to see the end of it.

[European Socialist]

2. Way to go Bart--Big oil is quaking in its boots. K&R

[Tandalayo_Scheisskopf]

3. Weasels.

The lot of them. Man, woman and dog.

[trashcanistanista]

4. bastards n/t

:mad: