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Congressional Insanity: Sue OPEC over Oil Prices

Posted on May 21, 2008

In a veto proof margin, no doubt enhanced by election political pandering, the House passes bill to sue OPEC over oil prices.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 presidentia...

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budget , crude , housing , oil , petroleum , taxes , us dollar