Nevada's Cortez Masto proposes investigation into oil companies, potential price gouging

LAS VEGAS (KLAS) -- Nevada Democratic Sen. Catherine Cortez Masto reintroduced a bill Wednesday to investigate if large oil companies took advantage of consumers as gasoline prices skyrocketed last year.

Cortez Masto first proposed The Fair and Transparent Gas Prices Act during the last Congress. If the bill were to become law, the government would give the Federal Trade Commission specific tools to look into possible price gouging.

“I can tell you just what the evidence tells me and the facts so far is that Big Oil has made record profits in the last couple of years,” Cortez Masto said Wednesday. "We also, and I also, know from that hearing from Energy and Natural Resources, when I was questioning Big Oil, that they are sitting on over 9,000 permits that they didn't even drill to put more supply in our supply chain to help lower those costs. Those are the facts.”

The act would require the FTC, along with state attorneys general, to investigate “transparency to the oil and gas markets, address concerns over price gouging, and recommend action to prevent behavior that harms consumers—including companies buying back stocks from their shareholders instead of using their record profits to responsibly increase oil and gas supply in the U.S,” a statement from Cortez Masto’s office said.

It would require Republican support in the U.S. Senate and the U.S. House, where Republicans control the agenda.

New Mexico Sen. Ben Ray Lujan is also a sponsor of the bill.

Last year, Nevada Democratic Sen. Jacky Rosen sponsored a bill, which Cortez Masto joined, to suspend the federal gas tax.

The bill, called the Gas Prices Relief Act, proposed suspending the 18.4-cent tax until Jan. 1, 2023. It also proposed requiring the Secretary of the Treasury to monitor the actions of oil and gas companies and take appropriate enforcement actions to ensure consumers see savings at the pump.

Suspending the federal gas tax would have no impact on Nevadans as a state law automatically raises the state tax to offset any drop in the federal one.

On Monday, Republican Gov. Joe Lombardo proposed suspending the state gas tax for one year. Doing so would require Democratic approval in the state legislature.



from KLAS https://ift.tt/a8KwZcb

Comments

Post a Comment

Popular posts from this blog

Post-pandemic stress leaves many lacking proper sleep

LAS VEGAS (KLAS)-- Covid-19 has changed the lives of many around the world, but the stress that came with it is still lingering for some individuals more than two years later. "I'm averaging three hours of sleep every night for the last two months," said Kortney Olson, a local who's been dealing with lingering pandemic stressors. "I'm in the apparel business, so supply chain issues and really logistics everything was so slimmed down it caused an immense amount of stress and it carried over." Pre-pandemic, she said she was averaging six hours of sleep per night, but now, no matter what she tries, it's hard for her to get a good night's rest. A study by the Sleep Foundation revealed that around 40 percent of people had issues sleeping during the pandemic. And Dinisha Mingo, CEO of Mingo Health Solutions, said, among other issues, she has seen an increase of patients coming in regarding sleep. Mingo said with schedules being thrown off for two
Read more

David Koresh's Camaro - aka 'Armageddon's Relic' - from Waco siege for sale in Las Vegas

Image
LAS VEGAS (KLAS) -- Owning a piece of history is special to many people, especially if it item is tied to an event that made worldwide headlines. But those headlines are not always good. On April 19, 1993, 76 men, women, and children died in Branch Davidian compound fire in Waco, TX. All of them were followers of one man, David Koresh. Now, the car that Koresh owned, and is thought to be his escape car, is for sale right here in Las Vegas. The 1968 Chevrolet Camaro SS 427 Coupe has been dubbed 'Armageddon's Relic' and is being sold at Vegas Auto Gallery by its current owner, Ghost Adventures host and the man behind the Las Vegas Haunted Museum, Zak Bagans. The true asking price is being kept quiet to all but serious buyers, but according to Vegas Auto Gallery General Manager Ken Tangen, it will cost someone six figures to own this ride. It comes with a reprinted copy of the Waco, TX title showing Koresh owned the car. The car itself also has a custom stamp
Read more

These 10 retailers offer pickup options so you can still get your last-minute Christmas gifts

Image
BestReviews is reader-supported and may earn an affiliate commission. Details. The holidays have arrived. Are you ready? Earlier this year, Amazon announced same-day delivery and pickup of select products from select locations throughout the U.S. As Christmas rapidly approaches and other holidays have already begun, regular delivery schedules prevent products from arriving in time. However, if a store offers pickup options, that means you can still get gifts until the very last minute. But which retailers offer this convenience? What are the advantages of “buy online, pick up in-store”? Although buying online and picking up in the store may sound like a bigger hassle than simply shopping at a brick-and-mortar store, there are actually several benefits: You can do all of your comparison shopping without leaving home and pick the very best product for you with a click. If there is limited stock or you can’t get there right away, you may be able to buy it immediately to ensure you
Read more