Rising inflation, especially record gas and diesel prices, is upping the pressure on the Democratic Party, but who knew they had a secret weapon in Congress that may solve all their problems; the Consumer Fuel Price Gouging Prevention Act.
"Legislation for first House Democrats led by Congresswoman Schreier and Congresswoman Porter, introduced the consumer fuel price gouging Prevention Act for families struggling to pay higher prices at the pump. Oil and gas companies are recording record profits, with seven largest oil companies announcing buybacks that we see gas prices rise. And when the cost of oil goes, that drops, oil prices drop and price gouging needs to be stopped" said House Speaker Nancy Pelosi during her weekly press conference last week. The bill is expected to be on the floor in the coming week.
Free-market economists used to believe the best way to find fair prices is to allow a free market and that would be the best way to create a price for a good that was incentive enough for the providers of that good to continue providing it at a price and for the buyer that would either encourage more consumption or naturally cure demand if prices got too high and supply got too tight.