Oil Price-Gouging Laws Harmful To Economy: Study

Law360, New York (April 10, 2007, 12:00 AM EDT) -- A proposed law to penalize oil and gas companies for price-gouging will disrupt the United States economy and lead to fuel shortages reminiscent of the energy crisis of the 1970s, a new study by a conservative think tank has warned.

The study, released on Tuesday by the American Council for Capital Formation, comes as Congress introduces a bill that would establish the first law against price-gouging by oil and gas companies.

The Federal Energy Price Protection Act complements the price-gouging investigation President George W. Bush announced...
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