The Editor’s Perspective

05/15/2006
House ‘gouging’ measure extends mistake streakLike frightened minnows skipping across a pond, US lawmakers flit from mistake to mistake on gasoline. Consumers can’t afford much more of this.The latest blunder comes from the House, which on May 3 passed a bill setting criminal penalties for “price-gouging” in sales of crude oil, gasoline, diesel fuel, home heating oil, and biofuel.So who’s price-gouging? That depends on what “price-gouging” means, a detail over which the 389 minnows who voted for HR 5253 couldn’t be bothered. In an appalling dodge, they gave the Federal Trade Commission 6 months to concoct a definition.Sponsors tried to...
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