Chairwoman of the Federal Trade Commission, Deborah Majoras, testifies before the Senate Energy and Natural Resources Committee and the Commerce, Science and Transportation Committee on regulating price gauging.
Majoras offers reasons why price gauging may actually benefit consumers during times of need, stating that, amongst other reasons, high price would limit consumption of scare resources, and prevent the depletion of that resource. (1:28)
November 9, 2005
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- Sen. Jeff Bingaman (D-NM) challenges the FTC’s decision not to comply with a federal law ordering the FTC to report back to Congress on price gauging.
- Sen. Jeff Bingaman (D-NM) questions Majoras on her testimony that consumers are better off being charged higher prices, and questions the role of the Federal Trade Commission as being a consumer advocate.
- Consumers need to do their part in reducing gasoline consumption
- Senator Reid offers serious solutions to the rising energy costs
- Drug price disparities between the U.S. and Canada
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