Source: United States House of Representatives – Congressman Bobby Scott (3rd District of Virginia)
Headline: Scott Votes to Lower Gas Prices, Hold Big Oil Accountable
May 19, 2022
WASHINGTON, D.C. – Congressman Bobby Scott (VA-03) issued the following statement after the U.S. House of Representatives passed H.R. 7688, the Consumer Fuel Price Gouging Prevention Act:
“America’s working families were already getting squeezed at the gas pump by the lingering global effects of the pandemic, and prices have continued to rise significantly as a result of Putin’s invasion of Ukraine. While there was a momentary dip in the price of oil several weeks ago, the price at the pump never decreased. At the same time, we have seen Big Oil companies take advantage of these dual crises as they have posted record profits and initiated unnecessary stock buyback programs. To make matters worse, oil companies are keeping production low. The oil and gas industry has more than 9,000 permits to drill on federal land that are currently going unused. Furthermore, the Biden administration has approved more drilling permits on public lands in their first year in office than the Trump administration approved in any of their first three years in office.
“All of these factors have contributed to record high prices at the gas pump today. That is why I was proud to vote for the Consumer Fuel Price Gouging Prevention Act, which will help lower costs for consumers at the gas pump by putting an end to price gouging, penalizing market manipulators, and bringing more transparency to the secretive oil and gas market. It is regrettable that none of my Republican colleagues supported this legislation. The MAGA Republicans constantly complain about high prices and inflation, but they offer no plans to do anything about it. I will continue working with my colleagues to lower costs for American families.”
# # #