Can Congress impose caps on the profit margin of the oil companies?

[auburngrad82]

If the oil companies are gouging us and recording record profits, can Congress cap the profit margins so that the companies still make money but we're not getting screwed? If it keeps on it will negatively effect every sector of the economy except the oil industry.

[M155Y_A1CH]

1. Not this Congress n/t

[LostinVA]

4. Maybe this Congress, if a different President

Maybe.

[mongo]

2. Sure. It's called regulation

Congress used to regulate the electric and natural gas industries, for the public good.

[LostinVA]

3. Of course they can -- and should

Not with the oil people in the White House.

[davsand]

5. They CAN, but they won't.

Big difference there. Legally, they can do it, but they lack the moral fiber to even consider it.


Laura

[AlGore-08.com]

6. A Congress can pass any law it wants, with the following checks

1. It's not law until the President signs it (and if the President vetoes it, they have to vote to override his veto, usually not easy to do)

2.) The law can be challenged in the court, and if the courts rule it unconstitutional, the law is tossed out.

And #2 is why Roberts needs to be filibustered.