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House Passes Democrats' Price-Gouging Bill

Law360 (May 23, 2007, 12:00 AM EDT) -- A bill that would criminalize and impose liability for gasoline price gouging during energy emergencies was passed by a two-thirds majority of the House of Representatives Wednesday, despite President George W. Bush's opposition.

The Federal Price Gouging Protection Act (H.R. 1252) establishes civil and criminal penalties, including fines that could reach $150 million and treble damages, to companies that sell gas or other petroleum products at “unconscionably excessive” prices during an energy emergency.

Executives found responsible for gouging could face up to ten years' imprisonment....
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