The Energy Independence and Security Act (Energy Act) signed into law December 19, 2007, gives the Federal Trade Commission (FTC) new authority to police “market manipulation” and “false reporting” in the petroleum industry.  In this role, the FTC joins the Federal Energy Regulatory Commission (FERC) and the U.S. Commodity Futures Trading Commission (CFTC), both of which already had similar statutory authority with respect to certain commodities.  This article examines the new power of the FTC in the context of the already existing authority of these agencies in the areas of “price manipulation” and “false reporting,” and evaluates the extent to which the new authority given to the FTC by the Energy Act may change the already muddled regulatory and enforcement landscape in the energy markets.