The concerns are well founded, but are price-gouging laws the answer? They certainly aren’t new and are indeed a throwback to the 1970s.

Americans worry about how they’ll continue to commute to work, pay for daycare, and afford groceries. It’s right to want to solve these serious problems, which punish consumers and threaten their way of life. Biden’s release of oil reserves temporarily lowered gas prices in April, but it was not enough to mitigate our supply issues. Gas prices have increased by 25% since the Russian invasion of Ukraine, and soaring inflation only exacerbates problems at the pump. The Consumer Price Index, released two weeks ago, showed an 8.3% increase in consumer prices over the past 12 months, with a 30% increase in the energy index and a 44% increase in the gasoline index. Nominal week-to-week gas prices are up by 50% from this time last year according to the Department of Energy. It’s a concerning time, with record-high levels of inflation, the Russian invasion of Ukraine, and growing economic malaise causing some to worry if we are reliving the 1970s, which I address here. Kim Schrier (D-Wash.) and Katie Porter (D-Calif.), will expand the powers of the Federal Trade Commission to “protect consumers from price-gouging of consumer fuels” and abhors “unconscionable pricing of consumer fuels during emergencies.”

Meanwhile, the Senate Natural Resources and Energy chair, Joe Manchin, continues to work toward a bipartisan climate and energy package.

Yesterday, Democrats successfully but narrowly passed an anti–price gouging bill in the House to address raging prices at the pump and to deliver on promises for successful climate-change legislation.

Acton weather feel