Price Gouging: Oil's Well that Ends Well?
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Undeterred by the fact that the FTC found no price manipulation — absolutely none — by energy companies in the wake of Katrina, some activist members of Congress are determined to fight it anyway:
Brushing aside objections from the head of the FTC at a committee hearing, Sen. Ted Stevens of Alaska said his legislation would outlaw price gouging but he still had to decide how to define price gouging.Searching frantically for a way to criminalize something that does not even exist. Talk about a bridge to nowhere.
"We will find a way to define it so that it can be enforceable," Stevens told reporters after a hearing on rising gasoline prices.
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Posted by Kip on
23 May 2006
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