Press Releases
Deal Supports Passage of the Federal Energy Price Protection Act of 2006

WASHINGTON, D.C. - Congressman Nathan Deal (R) from Gainesville, Georgia joined the majority of his colleagues today in support of the Federal Energy Price Protection Act of 2006. The Federal Energy Price Protection Act, was introduced by Rep. Nathan Deal and several colleagues from the Energy and Commerce Committee, prohibits price gouging—at any time—in the market for gasoline, diesel fuel, crude oil, home heating oil and biofuels.

  • Directs the FTC to define “price gouging,” “wholesale sale” and “retail sale” through rule-making.

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    • The existing state statutes in this area have vastly different definitions and interpretations.
    • Under a rulemaking, the FTC would have the benefit of receiving, and the obligation to consider, comment from interested parties on the definition of price gouging.
    • Directs the FTC to define price gouging within six months of enactment.
       
  • Provides for strong civil enforcement by the FTC and by states’ attorneys general, and criminal enforcement by the U.S. attorney general and the Department of Justice.

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  • Provides for civil penalties for price gouging.
     
    • For “wholesale sale” violations, the penalties are three times the ill-gotten gains of the seller, plus an amount not to exceed $3 million per day of a continuing violation.
    • For “retail sale” violations, the penalties are three times the ill-gotten gains of the seller.
    • Requires any civil penalty imposed to be deposited into any either account or fund used for paying compensation to consumers for violation of state consumer protection laws or into a state’s treasury general fund.
  • Provides for criminal penalties.
    • “Wholesale” violations will be punishable by a fine of up to $150 million, imprisonment for up to two years, or both.
    • “Retail sale” violations will be punishable by a fine of no more than $2 million imprisonment for up to two years, or both.

    “I am pleased the House took an expeditious step toward assisting the American people with the high cost of fuel. While this is not a final solution to the recent spike in fuel prices, it is a vital step forward in insuring that the oil refineries and distributors comply with federal and state law. I call on the Senate to stop playing politics with the issue and pass The Federal Energy Price Protection Act of 2006” Deal stated