House Speaker Pelosi Seeks Price Controls and a Ban on ‘Excessive’ Gasoline Prices – Mish Talk

Ban on ‘Excessive’ Gasoline Prices Heads for House Vote

As gas prices hit a fresh high according to the AAA, Bloomberg reports Ban on ‘Excessive’ Gasoline Prices Is Heading for House Vote

The US president would have the authority to declare an emergency that would make the sale of gasoline at “excessive” prices illegal under legislation House Democrats plan to bring to the floor next week.

The effort, announced Thursday by House Speaker Nancy Pelosi, comes as Democrats seek to blame record high gasoline prices on the oil industry amid fears that angry voters could punish Democrats in the midterm elections in November.

“Price gouging needs to be stopped,” Pelosi said at a press conference Thursday. “This is a major exploitation of the consumer.” 

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