TANNER WANTS FEDS TO INVESTIGATE
POSSIBLE PRICE GOUGING AT THE PUMPS

WASHINGTON – Congressman John Tanner and the House of Representatives passed a bill Wednesday demanding that the federal government investigate oil company practices and fine any companies found to be deliberately overcharging for gasoline.

“Fuel prices are at a record high, while oil companies are reporting record profits,” Tanner said. “Tennesseans want to be sure they are getting the fairest prices available and that they aren’t being taken advantage of when they fill their tanks.

“Many of us have been concerned for a while that there should be a clearer way to determine whether these companies are taking advantage of the customers who rely on their products day-to-day. I have met with store owners and oil distributors and know they share our same concerns.”

The bill directs the Federal Trade Commission to clearly define price gouging and calls for penalties of up to $150 million for refiners and gasoline wholesalers who violate the limits and up to $2 million for retailers who violate the law. The Senate had not yet considered the measure.

“This bill is only part of the solution,” Tanner said after the House vote. “We need to start now to end this country’s dependence on oil from home and abroad. I have asked House leaders and the White House to begin serious investment in the development of alternative fuels, including ethanol, hydrogen and biodiesel that can be produced from excess farm crops grown in Tennessee and elsewhere.”

Tanner represents Tennessee’s 8^th Congressional district in west and middle Tennessee.

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Contact: Randy Ford, 202.225.4714