Rep. Barrow's Natural Gas Reform Proposals Win Passage in House Agriculture Committee |
Bipartisan measures will bring some much-needed transparency to the natural gas market; crack down on natural gas market manipulation and deliberately inflated prices
Washington, DC - At a full meeting of the House Agriculture Committee, Georgia Congressman John Barrow (12th District) today secured a big win for consumers of natural gas when his energy market reform amendment passed the Committee unanimously. Barrow's proposals will bring some transparency to the natural gas market and help crack down on individuals or corporations that deliberately gouge consumers by inflating natural gas prices for personal profit.
"Erratic spikes in the price of natural gas have been burning holes in bottom lines and budgets all across Georgia and all across the country," Barrow said. "Whether you're heating your home in the winter, running a family farm year-round, or simply operating a business, today's vote represents an important first step by Congress to help get the cost of natural gas under control."
These bipartisan natural gas reform measures were originally introduced by Barrow and Congressman Sam Graves, a Republican from Missouri, earlier this year. The natural gas amendment that passed the Committee today focused on increasing both transparency and criminal penalties for market manipulation. Some of the key provisions include:
These measures will now be included in the House version of the CFTC reauthorization bill, which could be voted on by the full House of Representatives as early as next week.
In March of this year, Barrow invited Screven County farmer Ben Boyd to testify before Congress about the effect of skyrocketing natural gas prices on the cost of fertilizer for family farmers and agricultural producers (Read more). Natural gas is the key building block of nitrogen-based fertilizer.
Shortly after Mr. Boyd's testimony before the Small Business Subcommittee on Rural Enterprises, Agriculture, and Technology, where Barrow serves as the Ranking Member, Congressmen Barrow and Graves teamed up to introduce bipartisan legislation that would push for needed common sense reforms to the natural gas market.
"The extraordinarily high cost of natural gas is an issue I've been working on for over 9 months now," Barrow said. "More importantly, it's an issue that affects folks back home. This proves that when members of Congress take the time to listen to the people they represent, we can work together for the best interests of our constituents. I'm excited that the Committee was able to do what's right for the nation's natural gas consumers."
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Contact: Harper Lawson, (202) 225-2823
click here for a .pdf copy of this release |
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