Democrats refuse to limit future gas prices to $5/gallon.

The Republicans over at the House Energy and Commerce Committee have been watching a lot of their amendments to the latest monstrosity of an energy bill get shot down on party-line votes. That’s what happens when you let one party dominate Congress – particularly when it’s a party that doesn’t like cheap energy – but this one still requires special notice:

The Administrator, in consultation with the Secretary of Energy, shall annually prepare and certify a report to Congress on the average retail price of gasoline in the United States. If the Administrator determines that the average retail price of gasoline (all grades) sold to retail customers in the United States during the prior year exceeds $5 per gallon, including taxes (in 2009 dollars), as a result of implementation of this Act, the provisions of this Act shall cease to be effective.

Seems like a reasonable amendment, right? After all, that’s an even higher cap than last summer’s exceptionally inflated prices, and everybody knows that gas that expensive would do horrible things to our economy. Went down in flames anyway, 31/24.

What does Waxman know that we don’t?

Crossposted to Moe Lane.