mr. speaker , let me say to all my colleagues that are concerned about this bill , within the bill is a gas price gouging prevention portion , the `` gas price gouging prevention act , '' my amendment that was approved in committee . 
included in the manager 's amendment , it will for the first time direct the federal trade commission to define price gouging and prosecute it as an unfair and deceptive trade practice . 
it will direct federal trade commission expertise and resources in addition to existing state anti-gouging laws on eliminating retail and wholesale price gouging in a designated disaster area as well as any extended problem in the areas around the country , as determined by the president and the secretary of energy . 
penalties include fines up to $ 11 , 000 for violation in addition to equitable remedies , like returning ill-gotten profits . 
the amendment prohibits price gouging in the market for crude oil , home heating oil , gasoline , and diesel fuel . 
this has been extended . 
it is difficult to define price gouging . 
for the first time in this country , we are going to define it . 
we are going to prosecute it , and we are going to give the federal trade commission the authority to do just that . 
the amendment provides for the exclusive enforcement by the federal trade commission of the provisions as a violation of a rule defining an unfair deceptive act or practice under the ftc act . 
as i mentioned earlier , there are stiff penalties involved . 
the bill is triggered for 30 days in the affected area , not just 1 or 2 weeks , but 30 days and beyond if the president of the united states , in consultation with the secretary of energy , deems it to be appropriate . 
when the president declares a major disaster , and only for those major disasters that the secretary has determined could significantly affect production , distribution or supply , then it is extended , it is enforced . 
as mentioned earlier , it includes not just crude oil , home heating oil , and gasoline and diesel fuel . 
i urge my colleagues to look carefully at this bill . 
if you are going to vote against this bill , you are going to vote against a provision that establishes for the first time price gouging that is defined and prosecuted on a federal level . 
i urge all my colleagues to support the bill . 
the amendment prohibits price gouging in the market for crude oil , home heating oil , gasoline and diesel fuel . 
it is difficult to define `` price gouging. '' the existing state statutes in this area have vastly different definitions and interpretations . 
therefore , the amendment directs the ftc to define price gouging within 6 months of enactment consistent with the requirements for declaring unfair acts or practices in section 5 of the ftc act . 
the ftc 's authority to define `` price gouging '' is tempered by the traditional unfairness principles under section 5 ( n ) of the ftc act . 
under this section , to be `` unfair '' a practice must : cause or be likely to cause substantial injury to consumers ; not be reasonably avoidable by consumers themselves ; and not be outweighed by countervailing benefits to consumers or to competition . 
the amendment provides for the exclusive enforcement by the ftc of the provision as a violation of a rule defining an unfair or deceptive act or practice under the ftc act . 
the amendment provides for civil penalties of up to $ 11 , 000 per violation . 
the bill is triggered for 30 days in the affected areas -- and beyond if the president , in consultation with the secretary of energy , deems it to be appropriate -- when the president declares a major disaster , and only for those major disasters that the secretary has determined could significantly affect production , distribution , or supply . 
the president may extend the prohibition for such additional 30-day periods as he or she determines necessary . 
in addition , the issue of price gouging must be addressed . 
unfortunately , the tremendous goodwill of the american people in helping their fellow citizens on the devastated gulf coast was marred by some now infamous instances of gasoline price gouging . 
experts say the rapid rise in gasoline and diesel fuel prices nationwide following these natural disasters primarily resulted from a supply crisis . 
yet , there were some specific gasoline price increases that the average american , and maybe even the experts , knows are gouging . 
certain market situations , particularly those involving natural disasters like hurricanes katrina and rita , require aggressive and targeted federal prosecution of gasoline price gouging . 
my amendment , the `` gas price gouging prevention act , '' which is included in the manager 's amendment , will for the first time direct the federal trade commission to define price gouging and prosecute it as an unfair and deceptive trade practice . 
the `` gas gouging prevention act '' will direct ftc expertise and resources , in addition to existing state anti-gouging laws , on eliminating retail and wholesale price gouging in a designated disaster area , as well as any extended problem areas around the country as determined by the president and secretary of energy . 
penalties include fines of up to $ 11 , 000 per violation , in addition to equitable remedies like returning ill-gotten profits . 
it 's time to flush out the gougers and protect consumers with a new federal weapon to prosecute gasoline price gouging . 
i thank my colleagues , especially mr. walden , for their help in making the amendment even better and i urge that we pass `` gas price gouging prevention act '' included in h.r. 3893 , the `` gasoline for america 's security act. '' in closing , this legislation will go a long way to better protect the u.s. oil markets , as well as all consumers who depend on them . 
i urge my colleagues to support it . 
