According to reports, the American government is now inserting itself into the energy markets by deciding which gas stations are setting "unconscionably excessive" prices and dealing with them accordingly.
If an energy seller is deemed to be "exploiting the circumstances related to an energy emergency to increase prices unreasonably," then the Federal Trade Commission (FTC) will have the power to take regulatory action.
This "presidential emergency," as they are calling it, will last 30 days if passed by both branches of Congress. It could theoretically be renewed indefinitely "as the president deems appropriate."
"The measure would also prioritize FTC enforcement actions against firms with $500 million or more in annual wholesale or retail consumer fuel sales," reported The Epoch Times.
Only four Democrats voted against the bill along with 203 Republicans. Most Democrats supported it because they say their constituents are experiencing a lot of pain at the pump.
"Our residents are so fed up with corporate greed," said Rep. Rashida Tlaib (D-Mich.), a supporter of the measure.
Democrats say oil companies are intentionally limiting supply to reap record profits
According to the left, record-breaking energy prices are not a product of shortages but of corporate greed. Oil and gas firms are raking in record profits while Americans suffer. Tlaib pointed to Shell and Chevron as two examples.
Republicans like John Joyce of Pennsylvania, on the other hand, say that government intervention at a time like this will create long lines of cars at the gas station, much like what occurred during the 1970s.
Implementing price controls, he claims, amounts to socialist price fixing. Not only that, but there is plenty of domestic energy that Democrats, for whatever reason, do not want Americans to access.
"Instead of creating price controls that would lead to less production and massive gas shortages, we need to rely on the energy that lies beneath the feet of my constituents in Pennsylvania," Joyce said on the House floor.
Rep. Kelly Armstrong, a Republican from North Dakota, further revealed that the Biden regime is largely to blame for the energy crisis, including with its cancellation of the Keystone XL pipeline project.
In response, Rep. Frank Pallone, a Democrat from New Jersey, said that Republicans are mischaracterizing the scope of the legislation.
"We're not giving the FTC the authority to set the price," he said, adding that oil companies "don't want to increase production" because they are making too much money with artificial scarcity.
"You cannot ask oil and gas companies, particularly onshore companies, to increase production when the infrastructure doesn't exist to get that product to market," Armstrong shot back in defense of the Republican position.
In addition to passing the main bill, the House also passed two separate amendments, including one that would mandate an FTC investigation into alleged price gouging, including through cuts to refinery capacity.
The other amendment would create a new FTC unit to monitor fuel markets. (Related: Eco-terrorists in some areas are now smashing gas pumps to protest their alleged impact on climate change.)
The Sierra Club celebrated the bill's passage on Twitter, saying it will hold Big Oil accountable while protecting communities "from fossil fuel industry greed."
"The Senate should act swiftly to pass this critical legislation," the Sierra Club added.
Meanwhile, not a peep can be heard about addressing pharmaceutical industry greed, which has been going on for much longer and at a much greater price to society.
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