Section 1 Short title
This Act may be cited as the “Oil and Gas Industry Antitrust Act”.
Oil and Gas Industry Antitrust Act
A BILL
To direct the Federal Trade Commission to conduct an investigation and submit to Congress a report on gasoline prices, and for other purposes.
Sec. 2 FTC investigation and report on gasoline prices
Investigation—
In general— The Federal Trade Commission shall conduct an investigation to determine if the price of gasoline is being manipulated by reducing refinery capacity or by any other form of market manipulation or artificially increased by price gouging practices.
Consideration— In conducting the investigation under paragraph (1), the Federal Trade Commission may consider the impact of mergers and acquisitions in the oil and gas industry, including mergers and acquisitions involving producers, refiners, transporters, and gas stations.
Report— Not later than 270 days after the date of the enactment of this Act, the Federal Trade Commission shall submit to Congress a report on the investigation conducted under subsection (a), including a long-term strategy for the Commission and Congress to address manipulation of oil and gas markets during times of national or international crisis or emergency.
Exemption from Paperwork Reduction Act— Chapter 35 of title 44, United States Code, shall not apply to the collection of information under subsection (a).
Authorization of appropriations— There is authorized to be appropriated to the Federal Trade Commission to carry out this section $1,000,000 for fiscal year 2023.