(Phoenix, Ariz. – Nov. 9, 2005) Attorney General Terry Goddard voiced support for a federal anti-price gouging law in testimony this afternoon before a joint hearing of two U.S. Senate committees. The hearing was convened to examine energy prices, corporate profits and the effectiveness of federal and state consumer protection laws.
Goddard testified about the sharp jump in gas prices this year in Arizona related to Hurricane Katrina and soaring prices in 2003 during the Kinder Morgan pipeline break. Both experiences, he said, showed why federal and state laws are needed to protect consumers. Arizona is among a minority of states without an anti-price gouging law.
Goddard was joined on the panel today by New Jersey Attorney General Peter C. Harvey, South Carolina Attorney General Henry McMaster and Federal Trade Commission Chair Deborah Platt Majoras.
The hearing was conducted by the Commerce, Science and Transportation Committee and the Energy and Natural Resources Committee.
Attached please find a copy of his written testimony submitted for the record.