Renzi Fights to Lower Gas Prices - Punish Price Gouging

House Passes Measure to Streamline American Fuel Supply WASHINGTON, D.C. - Congressman Rick Renzi (AZ-1) voted for H.R. 3893, the Gasoline for America's Security (GAS) Act of 2005 which passed the House. The bill presents a comprehensive approach to address soaring gas prices and works to ensure that they do not damage the growing U.S. economy. Renzi said the plan specifically places a federal ban on gasoline price gouging and helps streamline the U.S. fuel supply to help keep prices down. "We must increase our refining capacity, streamline our fuel supply, and provide transparency in gasoline pricing," said Congressman Renzi. "We are fighting price gouging and helping reduce the bureaucracy that surrounds our energy pricing infrastructure. An affordable energy supply is what helps keeps our economic engine running, and we must ensure that energy prices remain affordable for all Americans." Specifically, the GAS Act encourages new refineries to increase supply and address soaring gasoline prices, limits "boutique fuels" that have pushed gasoline prices up, promotes new pipelines to get new crude oil and fuel products to consumers at lower prices, promotes conservation through carpooling and a fuel-efficiency awareness campaign, bans price gouging in gasoline or diesel fuel sales, and requires a Federal Trade Commission (FTC) study into credit card company processing fees, which may inflate consumer fuel costs.