House OKs 'outrageous gas prices' bill

quote[ The U.S. House of Representatives Wednesday passed legislation authorizing the Federal Trade Commission to investigate and punish gasoline price gouging.

The bill's sponsor, Rep. Bart Stupak, D-Mich., said the legislation would help stop "the truly outrageous prices we are seeing at the gas pump," The Detroit News reported.

"Today, every member has a choice," said Stupak. "Side with big oil or side with the consumers who are being ripped off at the gas pump."

House Republicans said the legislation would result in price controls and long lines at gas pumps, the newspaper said. They argued instead for more drilling and construction of more refineries.

The White House said President George W. Bush would likely veto Stupak's bill if it reached his desk.

Governors of 22 U.S. states -- 15 Democrats and seven Republicans -- asked Congress to investigate whether oil companies are intentionally raising gas prices to record highs by shutting down refineries, Stateline.org reported Wednesday.

"We are angry," said Connecticut Republican Gov. M. Jodi Rell. "We want answers as to why prices at the pump continue to escalate in the absence of new seasonal, weather or world events."

"Myself and 21 other governors have asked the Congress to investigate these oil companies and why it is, when they're making record profits -- I mean, Exxon alone made over $9 billion in the first quarter of this year, yet they're charging record prices? It doesn't make sense for the people of our state and our country," Florida Gov. Charlie Crist, also a Republican, told CBS News.]

And Bush threatens another veto. We can't hurt our good friends in the oil industry, can we??