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Old 05-21-2008, 04:13 AM
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Default House Passes Bill to Sue OPEC Over Oil Prices

Washington - 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 lawmaker said Americans "are at the mercy" of OPEC for how much they pay for gasoline, which this week hit a record average of $3.79 a gallon.
House Passes Bill to Sue OPEC Over Oil Prices | War On You
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Old 05-21-2008, 04:50 AM
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Bare with me here, I don't know the conversion of the American gallon to litres. Is the gallon equal to four litres.
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Old 05-21-2008, 05:28 AM
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Originally Posted by bloke next door View Post
Bare with me here, I don't know the conversion of the American gallon to litres. Is the gallon equal to four litres.
Actually its 3.79 litres to a U.S. gallon
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Old 05-21-2008, 06:02 AM
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Ta Teak, which would make gas just under a dollar a litre. That is pretty cheap. We are up to$1.60.
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Old 05-21-2008, 07:01 AM
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Originally Posted by bloke next door View Post
Bare with me here, I don't know the conversion of the American gallon to litres. Is the gallon equal to four litres.
4 litres...canadian gallon

Last edited by canuck27 : 05-21-2008 at 07:03 AM.
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Old 05-21-2008, 07:20 AM
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Why are we not sueing Canada and Mexico? We import most of our oil from them. They sell it to us at the same price that OPEC sells it.
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Old 05-21-2008, 07:45 AM
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Why are we not sueing Canada and Mexico? We import most of our oil from them. They sell it to us at the same price that OPEC sells it.
LOL, that is the dirty little secret purcysunshine that nobody wants to talk about. Blame Saudi, Iran and Hugo for the oil price jumps everyone is paying. Then blame the big US oil companies for causing the price of oil to jump to $130 a barrel.

Then we make ourselves look even more foolish with this legislation when all we have to do to bring down world oil prices is take the USA off the world oil market by drilling for our own oil.

Force OPEC to reduce prices when we have the power to do that ourselves? Blame Canada and Mexico for charging market prices for oil when we can bring down the price to a ridiculously low level ourselves? How stupid do we think the world is?

Every one in the world knows what kind of reserves we have and that our own environmental wackos are keeping us from getting it. We deserve to pay what we are paying and even more. Like it or not, the enemy is not them, it is us.
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Old 05-21-2008, 07:48 AM
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Originally Posted by reccles44 View Post
LOL, that is the dirty little secret purcysunshine that nobody wants to talk about. Blame Saudi, Iran and Hugo for the oil price jumps everyone is paying. Then blame the big US oil companies for causing the price of oil to jump to $130 a barrel.

Then we make ourselves look even more foolish with this legislation when all we have to do to bring down world oil prices is take the USA off the world oil market by drilling for our own oil.

Force OPEC to reduce prices when we have the power to do that ourselves? Blame Canada and Mexico for charging market prices for oil when we can bring down the price to a ridiculously low level ourselves? How stupid do we think the world is?

Every one in the world knows what kind of reserves we have and that our own environmental wackos are keeping us from getting it. We deserve to pay what we are paying and even more. Like it or not, the enemy is not them, it is us.
You have spoken the truth.
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Old 05-21-2008, 08:25 AM
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Subsidizing gas can't be far behind!
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Old 05-21-2008, 08:44 AM
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When will Congress start cutting the US Govt's oil consumption?

The US Govt is the largest employer and Corporation in the world.
They have over $2.5 Trillion in revenues.

The US Govt. should purchase carbon credits from the American people or cut income taxes for their carbon footprint.

The US Govt. should be forced to cut income taxes by 10% for each year Congress exceeds oil consumption limits.

Politicians should be limited to an annual amount of carbon pollution and if they exceed this limit, there should be severe monetary penalties.

The US Govt. is the single biggest polluter in America.
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