Fair and Transparent Gas Prices Act of 2022
Bill: S.4048 | Sponsor: Sen. Cortez Masto, Catherine (D-NV)
Policy area: Commerce

Summary:
Fair and Transparent Gas Prices Act of 2022
This bill requires the Federal Trade Commission to investigate anticompetitive, collusive, or other conduct related to oil and gas companies and markets.

To require the Federal Trade Commission to conduct a study on conduct 
         related to oil and gas prices, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fair and Transparent Gas Prices Act 
of 2022''.

SEC. 2. FTC STUDY ON CONDUCT RELATED TO OIL AND GAS PRICES.

    (a) Study.--The Federal Trade Commission (in this section referred 
to as the ``Commission''), in coordination with State attorneys 
general, as appropriate, shall conduct a study, using the Commission's 
authority under section 6(b) of the Federal Trade Commission Act (15 
U.S.C. 46(b)), to investigate anti-competitive, collusive, or other 
conduct related to oil and gas companies and markets, including the 
actual price of oil and gas paid by consumers. Such study shall include 
an analysis of--
            (1) whether such oil and gas companies use their financial 
        resources in a manner that would not expand or increase fuel 
        supply, including by reducing investments in the production of 
        fuel, engaging in stock buy backs, or any other conduct the 
        Commission deems appropriate; and
            (2) whether such anti-competitive, collusive, or other 
        conduct may--
                    (A) result in inflated costs for consumers or be 
                considered price gouging;
                    (B) delay producing or delivering more fuel supply;
                    (C) impact investment decisions that would 
                contribute to additional fuel supply; or
                    (D) restrict the availability, accessibility, or 
                affordability of alternative fuels or vehicle 
                technology.
    (b) Report.--
            (1) In general.--Not later than 1 year after the date of 
        enactment of this Act, and annually thereafter for the 
        following 2 years, the Commission shall submit to the 
        appropriate committees of Congress a report containing the 
        results of the study conducted under subsection (a), together 
        with recommendations for such legislation and administrative 
        action as the Commission determines appropriate or necessary to 
        provide fair consumer costs with respect to oil and gas.
            (2) Appropriate committees of congress.--In this 
        subsection, the term ``appropriate committees of Congress'' 
        means--
                    (A) the Committee on Commerce, Science, and 
                Transportation of the Senate;
                    (B) the Committee on Energy and Natural Resources 
                of the Senate;
                    (C) the Committee on Energy and Commerce of the 
                House of Representatives; and
                    (D) the Subcommittees on Financial Services and 
                General Government of the Committees on Appropriations 
                of the House of Representatives and the Senate.
    (c) Inapplicability of Paperwork Reduction Act.--Chapter 35 of 
title 44, United States Code (commonly known as the ``Paperwork 
Reduction Act''), shall not apply to the collection of information 
under subsection (a).
    (d) Additional FTC Resources.--
            (1) Additional personnel.--Notwithstanding any other 
        provision of law, the Commission shall, without regard to the 
        civil service laws (including regulations), appoint not more 
        than 50 additional personnel, as necessary, for the purposes of 
        carrying out the study and report required under this section.
            (2) Authorization of appropriations.--There are authorized 
        to be appropriated to the Commission to carry out this section 
        $15,000,000 for each of fiscal years 2023 and 2024.
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