According to the LA Times, the House voted, 284-141, to pass a bill that would make gasoline price gouging a federal offense.

If that doesn’t make you feel good about the work our government is doing in Washington, you’re not alone…

Meanwhile, the Senate is working like mad to introduce a new energy bill, the first since they took control of the Congress and promised change in the first 100 hours. A committee also held a hearing on whether oil industry mergers had contributed to higher fuel prices.

If all else fails, blame capitalism. If anything it will make you feel good inside.

“I was at a funeral Saturday, and when the monsignor greeted me, he said, ‘My God, Bart, you have to do something about these gas prices!’ ” said Rep. Bart Stupak (D-Mich.), chief sponsor of the anti-gouging bill.

Rep. Sheila Jackson-Lee (D-Texas) told her colleagues: “I can’t go home, and I imagine none of you can, without saying we tried to do something.”-Source

What a bunch of baloney!

This worthless legislation allows the government to investigate and prosecute anyone selling fuel at a price deemed “excessive” during a Presidentially declared “energy emergency” or under the premise that the seller is taking advantage of unusual market conditions.

Let’s be vague, shall we?

First of all, define what constitutes an “energy emergency”. Then define how you will determine if someone is taking advantage of “unusual market conditions”. While you’re at it, tell the convenience store owner that he’s charging too much at his pump when the customers are fully willing to pay him for his product!

And I’m sure we’ll appoint a new “energy czar” to go around and enforce these new laws, which of course will require a new 25 cent gas tax to pay for the enforcement agency…

Some semblance of reason stood up with a bit of common sense, only to get short lipped by a (you guessed it) Democrat that seems to think that gas prices should be set by the government, and not by the free market:

During House debate, Rep. Joe Barton (R-Texas) said that if “pandemic price gouging” were going on, states with anti-gouging laws would be flooding the courts with complaints. Instead, he said, demand for oil is up. The markets were doing what markets do, he said, noting: “If you don’t have more of it, prices are going to go up.”

But Stupak told his colleagues that they had a simple choice: “Vote to stand up for consumers, your constituents, who are paying record prices, or vote to protect big oil companies’ enormous profits.” -Source

Let the street do the talking, and ask the politicians to sit down…

Paul Sankey, an energy analyst for Deutsche Bank took the stand in a congressional testimony last week in an effort to remove a few hands from the free market cookie jar. On the speculation that big oil is gouging the consumer:

“The simple fact is they don’t need to right now,” Sankey said. “Frankly, they’re making so much money just by the nature of the market that what you want to do is let the market continue to operate in its own good way to allow higher gasoline prices to moderate demand, hopefully without damaging the U.S. economy too much.”

Luckily, the President has threatened to veto the bill, which if you’re a fan of the powers of the free market, you should be having a sigh of relief.

Meanwhile, our House and Senate will continue to draft worthless legislation for the sake of getting “something” done, even though the Democrats first 100 hours have long come and gone with nothing to show for it.

If that doesn’t get your vote, I don’t know what will…

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