Government
Jul. 6, 2006
Price Gouging Is Easy to Outlaw, Hard to Police
Forum Column - On May 3, the U.S. House of Representatives passed H.R. 5253, legislation that would make price gouging in the oil industry a crime.
By Edward C. Duckers
On May 3, the U.S. House of Representatives passed H.R. 5253, legislation that would make price gouging in the oil industry a crime. Wholesalers who engage in price gouging would be subject to criminal fines of up to $150 million and imprisonment for not more than two years. Retailers would be subject to fines of up to $2 million and jail terms of up to two years. Wholesalers and retailers also w...
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