Senate committee to examine energy market manipulation and federal enforcement programs

June 3: The Senate Commerce, Science and Transportation Committee will hold a hearing on energy market manipulation and federal enforcement regimes. A witness list was not available, but the notice said that the hearing also will consider "the current state of the oil and gas markets and their impact on consumers, as well as solicit testimony and discussion as to the key factors the Federal Trade Commission should incorporate into its upcoming rulemaking on its new responsibility to prevent manipulation in the wholesale oil and petroleum distillate markets." The hearing will begin at 10 a.m. in Room 253 of the Russell Senate Office Building.

Why it matters: This will be one of the first congressional hearings dealing with oil and gas prices after the Memorial Day recess, and several members can be expected to arrive ready to relay complaints from unhappy constituents. Committee member Maria Cantwell (D-Wash.) has introduced legislation aimed at stopping price gouging and will probably have several questions for any witnesses from the FTC.

Contact Nick Snow at nicks@pennwell.com