May, 16 2022, 03:54pm EDT
Democrats Introduce New Legislation to Stop Price Gouging, Protect American Public
WASHINGTON
Democrats are expected to vote on new legislation this week that will make it illegal for Big Oil to gouge consumers at the gas pump or on their home heating bills.
The Consumer Fuel Price Gouging Prevention Act, introduced last week by U.S. Representatives Kim Schrier and Katie Porter, would give President Biden the power to issue an Energy Emergency Declaration that would make it unlawful to increase gasoline and home energy fuel prices in an exploitative manner.
This legislation follows the announcement that the top 21 U.S oil and gas companies earned over $40 billion in the first quarter of this year alone, while families continue to struggle under the weight of artificially high gas prices. Rather than stabilizing gas prices or investing in more output and production, these companies are using their record profits to enrich their executives and shareholders, with nearly $60 billion planned in stock buybacks and dividend payments this year.
This week's House vote is a good step on the way towards passing a Big Oil Windfall Profits Tax that would tax the industry's obscene profits and use the revenue to provide Americans immediate relief.
In response, Jamie Henn, spokesperson for STOP (Stop the Oil Profiteering) released the following statement:
"Big Oil has absolutely no shame in gouging struggling American families in order to line the pockets of their wealthy investors and executives. Now it's Congress' turn to stand up for our communities and push back against Big Oil's war profiteering. The Consumer Fuel Price Gouging Prevention Act is an important first step towards ending oil industry profiteering; the next is to pass a Big Oil Windfall Profits Tax that could get even more relief to American families by taxing the industry's obscene profits. We applaud Rep. Schrier and Rep. Porter's initiative and urge Democrats to keep doing everything in their power to hold Big Oil accountable."
Fossil Free Media is a nonprofit media lab that supports the movement to end fossil fuels and address the climate emergency.
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"Progressives are proud to have been part of the most significant Democratic legislative accomplishments of this century. We have made real progress for everyday Americans—but there's much more work to be done," Congressional Progressive Caucus Chair Pramila Jayapal (D-Wash.) said in a statement.
"That's why the Progressive Caucus has identified these popular, populist, and possible solutions," she added. "Democrats in Congress can meet the urgent needs people are facing; rewrite the rules to ensure majorities of this country are no longer barred from the American promise of equality, justice, and economic opportunity; and motivate people with a vision of progressive governance under Democratic majorities in the House and Senate and a Democratic White House."
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The CPC agenda is backed by a wide range of labor, climate, environmental, civil rights, consumer, faith-based, and other organizations.
"The Congressional Progressive Caucus is leading the way for Congress to address the major issues affecting working families, from reducing healthcare and housing costs to strengthening workers' rights to join unions, earn living wages and benefits, and have safe workplaces," Service Employees International Union president Mary Kay Henry said in a statement.
"SEIU is proud to partner with the CPC to move these priorities forward and build a more equitable economy in which corporations are held accountable for their actions," she added.
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Google accused the workers of "bullying," "harassment," defacing property, and physically impeding other employees—allegations No Tech for Apartheid rejected as it noted organizers "have yet to hear from a single executive about" their concerns over Google's collaboration with Israel.
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