Fair Gas Prices Act: FTC Investigation into Oil and Gas Market Conduct
This Act mandates the Federal Trade Commission (FTC) to conduct a comprehensive study into the oil and gas markets to investigate anti-competitive or collusive conduct that may inflate consumer fuel prices. The study will analyze whether companies prioritize financial maneuvers, like stock buybacks, over expanding fuel supply. The goal is to identify practices that harm consumers and recommend future legislative actions to ensure fair and transparent gas costs.
Key points
The Federal Trade Commission (FTC) must investigate potential price gouging and anti-competitive behavior by oil and gas companies affecting consumer prices.
The study will specifically examine if companies are reducing investments in fuel production while engaging in stock buybacks, potentially restricting supply.
The FTC is required to report findings and propose new laws or administrative actions to Congress to achieve fair and competitive fuel markets.
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