Floor Statement Of Congressman Stephen F. Lynch On Gas Price Gouging

May 2, 2006

On April 27, 2006, Congressman Stephen F. Lynch gave the following statement on the floor of the <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />U.S. House of Representatives:

Mr. Speaker,

Today, around the country we see rising prices for American consumers at the pump and for heating costs at home.  As the price of gas has doubled, profits for big oil and gas companies have tripled, while at the same time American family income has stagnated.

Instead of additional handouts to Big Oil, we need to take steps to keep gas prices down.  Simply put, we need to crack down on price gouging.

Congressman Stupak’s anti-price gouging bill will not only address the issue of price gouging, but will also give federal agencies the authority to prosecute oil companies engaged in such practices involving gasoline, home heating oil, or natural gas.  That’s why I urge the Republican leadership to do the right thing and bring this legislation to the floor.  The American people can not afford to wait any longer for this Congress to act.

Thank you and I yield back the balance of my time.

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