Schneiderman announced lawsuits Thursday against four gas station operators for price gouging in the wake of superstorm Sandy.

WSJ: Gas Price Hikes Lead to Lawsuits

So if history shows that proposed anti-price-gouging legislation has fallen flat on its face, and if two federal agencies have said they haven't found any evidence of price gouging by oil and natural gas companies, and no one has been prosecuted under existing laws for price fixing, then why the new legislation?

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Former President Clinton and his Energy Secretary Bill Richardson mounted a similar effort late last year, when they asked the FTC to look into allegations of price gouging by the major oil companies when gas prices spiked in the Midwest.

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The office then launched its investigation, comparing gas prices before and after the crisis under the state's Price Gouging Law, which prohibits merchants from taking unfair advantage of consumers by selling goods or services for an "unconscionably excessive price" during disasters.

WSJ: Gas Price Hikes Lead to Lawsuits

Price gouging laws keep money prices low, but there are lots of other ways to pay for gas.

FORBES: Want to End Sandy Shortages? Let Gougers Gouge!