Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Energy Fraud and Fairness Reform Act - Directs the Federal Trade Commission (FTC) to investigate and report to Congress on whether the price of gasoline is being artificially manipulated by speculation in the oil markets, specifically at the Intercontinental Exchange in Atlanta, Georgia.
Amends the Internal Revenue Code to increase the alternative fuel vehicle refueling property credit from 30% to 50% of the cost of such a property placed in service by a taxpayer during the year.
Allows a tax credit for conversion of gas and diesel propelled motor vehicles to vehicles propelled by alternative fuel, clean fuel, or fuel cells.
Requires the Comptroller General of the United States to study and report to Congress on the refinery capacity of the United States.
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