U.S. Senate set to confirm Bedoya as FTC commissioner

Signage is seen on the Federal Commerce Fee headquarters in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly

WASHINGTON, April 24 (Reuters) – Alvaro Bedoya will probably be confirmed to the U.S. Federal Commerce Fee this week, Senate Majority Chief Chuck Schumer mentioned on Sunday, giving the company sufficient votes to research oil corporations Democrats say are “gouging” customers with excessive gasoline costs.

Vice President Kamala Harris will probably be available to interrupt an anticipated 50-50 Senate tie over Bedoya’s nomination, giving Democrats a 3-2 majority amongst FTC commissioners. Presently, there are two Democrats and two Republicans, leading to deadlocks.

“He (Bedoya) will give Lina Khan and the FTC the bulk to go after the oil corporations and go after gouging,” Schumer mentioned throughout a press convention in New York Metropolis. Khan, a Democrat, chairs the FTC.

Bedoya, a visiting legislation professor at Georgetown College, is a former chief counsel of the U.S. Senate Judiciary subcommittee on privateness, know-how and the legislation.

Gasoline costs are averaging greater than $4 per gallon nationally and considerably larger in western states. learn extra

That’s up from round $2.90 nationally a 12 months in the past, in accordance with the American Car Affiliation.

The American Petroleum Institute, representing oil and pure fuel corporations, argues petroleum costs are decided by provide and demand, not by particular person oil corporations.

Schumer, nonetheless, blamed company “wartime income” following Russia’s invasion of Ukraine.

Russia calls its actions in Ukraine a “particular operation.”

In the meantime, Schumer has accused oil corporations of orchestrating billions of {dollars} in inventory buybacks, a transfer he mentioned enriches traders “but it surely would not do something to extend productiveness, enhance (oil) manufacturing or anything.”

Laws additionally will probably be launched this week giving the FTC extra energy to guard customers, Schumer mentioned with out elaborating.

Democratic Senator Elizabeth Warren, interviewed on CNN on Sunday, urged passage of laws increasing FTC authority to behave towards worth gouging.

Reporting by Richard Cowan, Sarah N. Lynch and Susan Heavey; Modifying by Lisa Shumaker

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