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Arlington, VA – Americans for Prosperity Vice President for Government Relations Chris Hudson issued the following statement opposing S. 4217, the Transportation Fuel Market Transparency Act, which is scheduled for consideration by the Senate Commerce Committee on Wednesday:
“This is another empty, ineffective, and virtue-signaling fuel price bill that won’t do anything to provide meaningful relief.
“There are substantive policy steps that could relieve the pain at the pump — but almost none of them have been offered in legislation by the current congressional majority. Measures targeting supposed price-gouging sound lovely to the far-left progressive base, but they utterly fail to recognize and address the root cause of the high prices and will only lead to long-lines and supply shortages.
“The gasoline that is used by virtually every American is one of the most over-regulated products on the consumer market. Those regulations inflate costs for both businesses and consumers, but instead of trying to ease restrictions and increase supply we invariably see the backward approach of throwing up more costly barriers.
“The only useful approach to the energy cost crisis would be to get counterproductive mandates and regulations out of the way. Competition creates transparency and drives costs down, but price controls never create competition – they create shortages and panic.”