Gas Prices
As the “summer driving season” begins this weekend, it is unsurprising to find gas prices again a hot topic. Today’s Washington Post has an article, tied to a Washington Post-ABC poll, about motorists’ willingness to pay higher gas prices before altering their driving behavior (i.e., drive less and/or take public transportation).
At the always informative Trade Regulation Talk, John Arden reviews four different bills before Congress relating to gas prices: the Federal Energy Price Protection Act of 2007 (H.R. 2335); a bill requiring the FTC to monitor and investigate gas prices (S. 1381); the Petroleum Consumer Price Gouging Protection Act (S. 1263); and the No Oil Producing and Exporting Cartels Act of 2007 or “NOPEC” bill (H.R. 2264, S. 879).
The House Committee on Energy and Commerce’s Subcommittee on Oversight and Investigations held a hearing on Tuesday titled “Gasoline Prices, Oil Company Profits, and the American Consumer.” The Committee heard testimony from FTC Commissioner William Kovacic; Energy Information Administration Administrator Guy Caruso; Michigan Department of Environmental Quality Deputy Director Stanley Pruss; Director of the GAO’s Center for Economics Applied Research and Methods Thomas McCool; AAA Director of Public Affairs Geoff Sundstrom; CRA International Vice President David Montgomery; and Public Citizen’s Energy Program Director Tyson Solcum.
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