Conyers Votes for New Tools to Fight Record High Gas PricesAs Prices at the Pump Reach Record Highs, Congress Approves Measures to Fight Price Gouging, Price Fixing

WASHINGTON D.C. — As Americans approach Memorial Day and the summer driving season, Congressman John Conyers, Jr. joined an overwhelming bipartisan majority in Congress and voted to approve new tools to fight record high gas prices. On Tuesday and Wednesday, Rep. Conyers voted for legislation to crack down on gas price gouging and OPEC state-controlled entities that conspire to limit the supply or fix the price of oil. This vote comes as families in Michigan are paying an average of $3.47 for gasoline.

On Tuesday, the House approved H.R. 2264, a bill introduced by Rep. Conyers, to authorize the Justice Department to take legal action against OPEC state-controlled entities that participate in conspiracies to limit the supply, or fix the price, of oil.

On Wednesday, the House approved The Federal Price Gouging Prevention Act, H.R. 1252, which would give the Federal Trade Commission the authority to investigate and punish companies that artificially inflate the price of gas. The bill sets criminal penalties for price gouging, and permits states to bring lawsuits against wholesalers or retailers who engage in such practices.

Rep. Conyers said, “Nationwide, families are paying $3.22 a gallon on average for regular gasoline – more than double the cost when Bush took office, up 89 cents from the beginning of the year. Last year, families paid $1,000 more on average for gasoline than in 2001.

The high cost for families come as oil companies continue to prosper. The six largest oil companies announced $30 billion in profits for the first quarter of 2007. This is on top of the $125 billion in record profits they made in 2006. In spite of record oil industry profits in the face of crippling costs for American consumers, President Bush has threatened to veto both pieces of legislation.

In addition to the legislation approved this week, the Democratic Congress has already voted to roll back $14 billion dollars in taxpayer subsidies for Big Oil companies and reinvest the money in clean, alternative fuels, renewable energy and energy efficiency. Democrats are also developing an Independence Day package to boldly address energy independence and global warming by rapidly expanding the production of clean, alternative fuels and increasing energy efficiency, which will help protect our environment and bring down the cost of fuel for American consumers.”