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Price-gouging laws won’t help gas prices or consumers

It’s easier to scream about Big Oil profits and greed than it is to fix the problems that underlie runaway inflation and clogged supply chains. It’s time we make hard choices and forgo feel-good rhetoric.

Yesterday, Democrats successfully but narrowly passed an anti–price gouging bill in the House to address raging prices at the pump and to deliver on promises for successful climate-change legislation. Meanwhile, the Senate Natural Resources and Energy chair, Joe Manchin, continues to work toward a bipartisan climate and energy package. H.R. 7688, proposed by Reps. Kim Schrier (D-Wash.) and Katie Porter (D-Calif.), will expand the powers of the Federal Trade Commission to “protect consumers from price-gouging of consumer fuels” and abhors “unconscionable pricing of consumer fuels during emergencies.”

Read more at the Acton Institute