Oil and Gas Industry Antitrust Act

[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7550 Introduced in House (IH)]

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117th CONGRESS
  2d Session
                                H. R. 7550

To direct the Federal Trade Commission to conduct an investigation and 
submit to Congress a report on gasoline prices, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 21, 2022

Mrs. Demings (for herself, Mr. Nadler, Mr. Cicilline, and Ms. Castor of 
   Florida) introduced the following bill; which was referred to the 
 Committee on Energy and Commerce, and in addition to the Committee on 
   the Judiciary, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

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                                 A BILL


 
To direct the Federal Trade Commission to conduct an investigation and 
submit to Congress a report on gasoline prices, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Oil and Gas Industry Antitrust 
Act''.

SEC. 2. FTC INVESTIGATION AND REPORT ON GASOLINE PRICES.

    (a) Investigation.--
            (1) In general.--The Federal Trade Commission shall conduct 
        an investigation to determine if the price of gasoline is being 
        manipulated by reducing refinery capacity or by any other form 
        of market manipulation or artificially increased by price 
        gouging practices.
            (2) Consideration.--In conducting the investigation under 
        paragraph (1), the Federal Trade Commission may consider the 
        impact of mergers and acquisitions in the oil and gas industry, 
        including mergers and acquisitions involving producers, 
        refiners, transporters, and gas stations.
    (b) Report.--Not later than 270 days after the date of the 
enactment of this Act, the Federal Trade Commission shall submit to 
Congress a report on the investigation conducted under subsection (a), 
including a long-term strategy for the Commission and Congress to 
address manipulation of oil and gas markets during times of national or 
international crisis or emergency.
    (c) Exemption From Paperwork Reduction Act.--Chapter 35 of title 
44, United States Code, shall not apply to the collection of 
information under subsection (a).
    (d) Authorization of Appropriations.--There is authorized to be 
appropriated to the Federal Trade Commission to carry out this section 
$1,000,000 for fiscal year 2023.
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