Transportation Fuel Market Transparency Act
Latest action · Jun 22, 2022 Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-848.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 12, 2022
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Transportation Fuel Market Transparency Act
This bill expands prohibitions against manipulating fuel markets, establishes a body within the Federal Trade Commission (FTC) to monitor fuel markets to ensure competitiveness, and addresses related issues.
Prohibitions against the manipulation of wholesale fuel markets or reporting false (or misleading) information shall apply to actions related to crude oil and transportation fuel, defined in this bill to include gasoline, distillate fuels, jet fuel, aviation gasoline, and biofuel. Currently, such prohibitions only apply to crude oil, gasoline, and petroleum distillates.
The bill further expands the prohibition on reporting false information to include such information that (1) concerns the supply of, operational actions related to, or output related to wholesale fuel markets; (2) is not required to be reported by law; or (3) affects the analyses or data compiled by a private sector price-reporting agency.
The bill also increases the maximum civil penalty for violating these prohibitions from $1 million to $2 million for each day of the violation.
Furthermore, the bill establishes within the FTC the Transportation Fuel Monitoring and Enforcement Unit. The unit must continuously and comprehensively collect and analyze fuel market data to support competitive market practices, identify market manipulation and other unfair methods of competition, and facilitate enforcement of competition-related statutes.
The Energy Information Administration within the Department of Energy must collect data to facilitate transparent and competitive transportation fuel markets, determine adherence to sanctions, and protect consumers.
Cosponsors 3
Members who signed on, in the order they did. Signatures ran from May 12, 2022 to Jun 9, 2022; 2 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Dianne Feinstein | Original | May 12, 2022 |
| D-OR | Ron Wyden | Original | May 12, 2022 |
| D-NV | Catherine Cortez Masto | Jun 9, 2022 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Commerce, Science, and Transportation Committee | Referred May 12, 2022 |
| Senate | Banking, Housing, and Urban Affairs Committee | Hearings Jun 22, 2022 |
Actions 4
Everything that happened, newest first.
- Jun 22, 2022Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-848.
- May 25, 2022Committee on Commerce, Science, and Transportation. Failed to report favorably.
- May 12, 2022Introduced in Senate
- May 12, 2022Read twice and referred to the Committee on Commerce, Science, and Transportation.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S2929, S2930 | Roger Marshall R-KS, Sheldon Whitehouse D-RI | Jun 14, 2022 |
| Senate | Debate and remarks S2727Notices S2746Committee on Commerce, Science, and Transportation (Senate) tie vote on S. 4217, Transportation Fuel Market Transparency Act | Maria Cantwell D-WA | May 26, 2022 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 7800 | Transportation Fuel Market Transparency Act | Identical bill | May 17, 2022 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to ensure transparent and competitive transportation fuel markets in order to protect consumers from unwarranted price increases.
- Short Title(s) as Introduced
- Transportation Fuel Market Transparency Act
Subjects
Assigned by the Library of Congress. Policy area: Energy.
- Alternative and renewable resources
- Aviation and airports
- Civil actions and liability
- Competition and antitrust
- Consumer affairs
- Energy
- Energy prices
- Executive agency funding and structure
- Federal Trade Commission (FTC)
- Fraud offenses and financial crimes
- Government information and archives
- Lighting, heating, cooling
- Motor fuels
- Oil and gas
Text 1
Each version as it was printed, newest first.
- May 12, 2022Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
