This bill requires the Federal Trade Commission (FTC), working with State attorneys general as appropriate, to study conduct by oil and gas companies and markets that could affect the price of oil and gas paid by consumers. The FTC must use its authority under section 6(b) of the Federal Trade Commission Act to investigate anti-competitive, collusive, or other conduct. The study must look at whether companies use money in ways that do not increase fuel supply (for example, by cutting investments in production or doing stock buybacks) and whether such conduct could lead to higher consumer costs, delay fuel production or delivery, affect investment decisions that would increase supply, or limit the availability, accessibility, or affordability of alternative fuels or vehicle technology.
The FTC will gather information and analyze whether certain business actions in the oil and gas sector are linked to higher fuel prices or reduced fuel supply. The agency will report its findings and may recommend laws or administrative actions to Congress. The bill itself does not change prices or impose new consumer rules; it directs a study and reporting process that could inform future action.
The bill allows the FTC to hire up to 50 additional personnel, without regard to civil service laws, to carry out the study. It authorizes $15,000,000 in appropriations for each of fiscal years 2027 and 2028 to carry out this section. The Paperwork Reduction Act does not apply to the information collection done under the study. The FTC must deliver a report to specified congressional committees within 1 year of enactment and then annually for the following 2 years.
No publicly available information.
No publicly available information.