CHICAGO—A Illinois businessman has been convicted of price-gouging in connection with the sale of N95 masks during the early weeks of the COVID-19 pandemic. Krikor Topouzian, 62, of Winnetka, was convicted Thursday in federal court in Chicago following a bench trial, the Chicago Sun-Times reported. He could face up to a year in prison when…
Illinois Businessman Convicted of Price-Gouging N95 Masks During Early Weeks of Pandemic
July 2, 2023
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Crime & Public SafetyCrime and IncidentsIllinoismasksprice-gougingRegional & State NewsState NewsUSUS News
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Bipartisan Senators Seek Pentagon Investigation Into Arms Makers Over Price Gouging Claims
May 26, 2023
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BoeingBusiness & MarketsCompaniescongressdefense contractorsDepartment of DefenseLockheed MartinPoliticsprice-gougingraytheonUSUS News
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Five U.S. senators, including two Democrats, two Republicans, and independent Sen. Bernie Sanders, are seeking a Department of Defense (DoD) investigation into allegations of price gouging by U.S. arms manufacturers. A CBS News “60 Minutes” report this week claimed systemic price gouging practices were used by major arms manufacturers such as Lockheed Martin, Boeing, and…
Democrats Propose ‘Windfall Profits Tax’ on Oil Firms, Accuse Companies of War Profiteering and Price Gouging
February 16, 2023
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Business & MarketsDemocratseconomyenergyoil companiesPolicies & ImpactsPoliticsprice-gougingtaxUSwar profiteeringwindfall profits
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Democrat lawmakers have introduced a bill seeking to impose higher taxes on oil companies for what they claim are “windfall” profits made from “cartel pricing” strategies, even as the Biden administration keeps enforcing policies which negatively affect the sector. The “Big Oil Windfall Profits Tax Act” was introduced in the Senate by Sen. Edward J….
High Food Prices Have Canadians Eating Less, Stockpiling Food: Poll
Canadians are stockpiling food and changing their eating and purchasing habits in response to rising food prices amid soaring inflation, according to a new poll. More than 1000 Canadians surveyed were asked if they had taken any steps in the past 30 days to reduce their food costs. The majority of Canadians polled, 61 percent,…
Valero’s Scorching Response to California’s Claims That Big Oil Is Price Gouging
October 10, 2022
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Business & MarketsCaliforniaCompanieseconomic policieseconomyenergygas pricesinflationLocal NewsNorthern Californiaprice-gougingRegional-Local NewsSouthern CaliforniaUSUS Newsvalero
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Valero Energy Corp. has responded to the California’s Energy Commission’s (CEC) accusatory letter which claimed that the oil industry raised prices in California while global crude prices declined, and in the absence of any unplanned refinery outages, and no increases in state taxes or fees. “[C]rude oil prices are down and industry profits are up,…
Biden Administration Expected to Reinstate Price Controls, Bringing Back 1970s Gas Lines, Experts Warn
Gas prices continue to rise, topping historic highs and there’s no imminent hope of relief in sight, according to sector analysts. The average price for a gallon of regular gasoline in the United States has now more than doubled since President Joe Biden took office. Congressional Democrats and the Biden administration assert that a solution…
The Consumer Fuel Price Gouging Prevention Act: Cynical and Revealing
Commentary On May 19, the U.S. House of Representatives passed the Consumer Fuel Price Gouging Prevention Act by a vote of 217–207. Four Democrats and every Republican voted against the bill. The purpose of the bill is to empower the federal government (specifically, the Federal Trade Commission) to fine oil companies if they increase prices…
House Passes Fuel Price-Gouging Bill
May 19, 2022
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Business & EconomycommoditiescongressDemocratseconomic policieseconomyEnvironmentExecutive BranchgasolinehouseinflationMarketsPolicies & ImpactsPoliticsprice-gougingRepublicansScienceUSUS FeaturesUS News
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The House of Representatives passed the Consumer Fuel Price Gouging Prevention Act, by a vote of 217-207 on May 19, taking the country closer to greater government involvement in energy markets as gasoline prices soar to new heights. The bill, H.R. 7688, would let President Joe Biden declare an “energy emergency.” Such an emergency would…
House Passes Fuel Price-Gouging Measure
May 19, 2022
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Business & EconomycommoditiescongressDemocratseconomic policieseconomyEnvironmentExecutive BranchgasolinehouseinflationMarketsPolicies & ImpactsPoliticsprice-gougingRepublicansScienceUSUS FeaturesUS News
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The House of Representatives passed the Consumer Fuel Price Gouging Prevention Act by a vote of 217–207 on May 19, moving the country closer to greater government involvement in energy markets as gasoline prices soar to new heights. The legislation, H.R. 7688, would allow President Joe Biden to declare an “energy emergency.” Such an emergency…
More RAT Stock to Come in February When Omicron Cases Already Peaked
Pharmacists are reporting that while more rapid antigen tests (RATs) will be coming next week, the “real jump” in supply is not expected until February after COVID-19 hospitalisations are estimated to have already reached their highest level. Australia’s biggest pharmacy distributor, Sigma Healthcare Sigma told The Epoch Times on Jan. 17 it was currently transporting rapid…
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