While gas prices climb into the $4.00 range, and local lawmakers argue over the virtue of a statewide suspension of the gas sales tax, Congress is working to make certain that the horrific price gouging that has been seen across this country in times of crisis is not repeated again. From The Times:

The House voted 284-141 Wednesday for the Federal Price Gouging Protection Act, co-sponsored by Rep. Pete Visclosky, D-Ind. [It was actually co-sponsored by every Democrat in Indiana's Congressional delegation.] The legislation bans sellers from charging "unconscionably excessive" prices.

The bill would allow the FTC to go after profiteering companies -- but only after the president has declared an energy emergency.

The fast-tracked bill, which the Bush administration threatened to veto, needed a two-thirds majority in the House and passed that threshold by a one-vote margin. The bill must still pass the Senate, where Democrats hold a narrow majority.

Under the legislation, companies could face criminal penalties up to $150 million, while individuals could be fined up to $2 million and imprisoned for up to 10 years.

The fines would be funneled to a federal fund that helps low-income families pay their energy bills.

Critics argue, and I think rightfully so, that it is difficult to define just what exactly is "gouging," and what is simply being expensive. I would point out, though, that this bill is targeting not just the oil companies, (who certainly could use a bit more oversight), but also individual providers of gas, who have been notorious in their capitalization on such disasters as Hurricane Katrina or 9/11. I remember distinctly the price of gas rising sharply on the westside of Indianapolis in 2001, and there was really no reason for it. To me, it is more than fine to target gas station owners who try to charge five bucks a gallon after a natural disaster, all in the name of cashing in on a national crisis.

The vote, in case you were wondering:

Voting For: Julia Carson, Joe Donnelly, Brad Ellsworth, Baron Hill, Peter Visclosky

Voting Against: Dan Burton, Steve Buyer, Mike Pence, Mark Souder

(Originally posted at Blue Indiana)

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