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Folks, we have just been saved by the Democratic Congress! They have authored a motion, and it passed with overwhelming support, to SUE OPEC for the high oil prices!! It was these same folks who blessed us with an ethanol mandate. Now lawsuits vs. OPEC. And to think that the election is just months away. Just think of the possibilities once this next election is over: Obama as President, with a Democratic Senate and House, nothing will be impossible to stop them now! The entire nation can be ruined post haste.
WASHINGTON (Reuters) - The House of Representatives overwhelmingly
approved legislation on Tuesday allowing the Justice Department to
sue OPEC members for limiting oil supplies and working together to
set crude prices, but the White House threatened to veto the measure.
>
> The bill would subject OPEC oil producers, including Saudi Arabia,
Iran and Venezuela, to the same antitrust laws that U.S. companies
must follow.
>
> The measure passed in a 324-84 vote, a big enough margin to
override a presidential veto.
>
> The legislation also creates a Justice Department task force to
aggressively investigate gasoline price gouging and energy market
manipulation.
>
> "This bill guarantees that oil prices will reflect supply and
demand economic rules -- instead of wildly speculative and perhaps
illegal activities," said Democratic Rep. Steve Kagen of Wisconsin,
who sponsored the legislation.
>
> The White House opposed the bill, saying that targeting OPEC
investment in the United States as a source for damage awards "would
likely spur retaliatory action against American interests in those
countries and lead to a reduction in oil available to U.S. refiners."
>
WASHINGTON (Reuters) - The House of Representatives overwhelmingly
approved legislation on Tuesday allowing the Justice Department to
sue OPEC members for limiting oil supplies and working together to
set crude prices, but the White House threatened to veto the measure.
>
> The bill would subject OPEC oil producers, including Saudi Arabia,
Iran and Venezuela, to the same antitrust laws that U.S. companies
must follow.
>
> The measure passed in a 324-84 vote, a big enough margin to
override a presidential veto.
>
> The legislation also creates a Justice Department task force to
aggressively investigate gasoline price gouging and energy market
manipulation.
>
> "This bill guarantees that oil prices will reflect supply and
demand economic rules -- instead of wildly speculative and perhaps
illegal activities," said Democratic Rep. Steve Kagen of Wisconsin,
who sponsored the legislation.
>
> The White House opposed the bill, saying that targeting OPEC
investment in the United States as a source for damage awards "would
likely spur retaliatory action against American interests in those
countries and lead to a reduction in oil available to U.S. refiners."
>
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