Are You Being Gouged at the Gas Pump?

A new taskforce focused on fraud in energy markets will look into whether consumers are being gouged at the gas pump on gas prices or traders are manipulating the markets,

Tuesday U.S. Attorney General Eric Holder told the House Judiciary Committee., “To the extent that there are inappropriate attempts to manipulate the markets, that there is price gouging, other things of that nature that have had a devastating impact on average Americans …. that will be the focus of this task-force,”  while cautioning that there are “market forces that are at work and I don’t want to oversell what it is we are doing”.

The task-force group includes representatives from the Commodity Futures Trading Commission, the Federal Trade Commission, the Federal Reserve Board, Securities and Exchange Commission and the Departments of Agriculture, Energy, Justice and Treasury.

The task-force held its first meeting on Monday behind closed doors.

Holder claims this is a “serious effort” by prosecutors to find possible violations of criminal or civil laws.

Rick Shell Reporting

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