Law Banning Price-Gouging Could Backfire: FTC Official

Law360, New York (May 23, 2006, 12:00 AM EDT) -- One day after the Federal Trade Commission released a report finding scant evidence of post-Katrina price-gouging by oil companies, the agency’s head warned lawmakers that legislation to outlaw the practice could hurt consumers in the long run.

Testifying before the U.S. Senate Commerce Committee this week, FTC Chairman Deborah Platt Majoras said that while the agency would “vigorously implement and enforce” any legislation that is enacted in addition to existing antitrust laws, any decision to do so should be made “with full awareness of both sides...
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