Key Vote NO on H.R. 7688

The American Energy Alliance urges all members to oppose H.R. 7688, the Consumer Fuel Price Gouging Prevention Act. This legislation claims to address an imaginary problem by giving the President of the United States unilateral power to set prices and harass small businesses based on a vague idea of “unconscionably excessive” gas prices.

While there are many factors that affect gas prices, most especially the price and supply of crude oil, so-called price gouging is not one of them. Over 90% of gas stations in the United States are independently owned. These small businesses set prices individually, they are not directed or controlled by whatever oil company’s brand they have on their sign. This legislation would target these small business for investigation and harassment, while ignoring real factors that affect gas prices, like regulation and administration policy actions to prevent domestic oil production.

For decades now the Federal Trade Commission has repeatedly searched for evidence of “price gouging” or collusion in price setting in the gasoline market. No evidence has ever been found. It is an imaginary problem, a false talking point used to deflect attention.

Both the supposed target of this legislation and the sweeping, unchecked power it would grant the president, are misguided. The AEA urges all members to support free markets and affordable energy by voting NO on H.R. 7688. AEA will include this vote in its American Energy Scorecard.