Rep. Wilson Jumps on Price Gouging Bandwagon

Congresswoman Heather Wilson has once again chosen to ignore basic economic principles in favor of trying to score cheap political points. The issue this time is “price gouging” legislation that she is sponsoring: HR 2335. While I can’t link to the bill text directly, you can read the bill for yourself by clicking here and entering “HR 2335.” Essentially, the bill sets up a series of regulations and fines, ostensibly for the purpose of preventing big, bad oil companies from taking advantage of us consumers.
Perhaps the ethanol mandate that Congress passed in the last energy bill is part of the problem? There’s also been a reduction in refining capacity which Congressional mandates have contributed to.
Instead of passing absurd “price gouging” legislation, Rep. Wilson and her friends in Washington need to look in the mirror for the real source of high gas prices. Wild goose chases after oil companies will only make matters worse.

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