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Well that’ll show ’em ...
Posted by: McQ on Tuesday, May 20, 2008

The Democrats have finally solved the oil price problem:
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.
I would love to have some of what these yahoos are smoking.

Aren't these the same folks that claim we shouldn't be "imposing" democracy on anyone? And yet here they are trying to impose (and that's not going to happen, trust me) US law on an international cartel.

Yeah, that'll solve the problem, wont it?

Are you catching on yet that these morons in Congress (and elsewhere) haven't a clue about how the world works?

It seems the guy everyone hates, however, does:
The White House opposes 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."

The administration said less oil going to refineries would limit available gasoline supplies and raise fuel prices.
Ya think?

Thanks Democrats.
 
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And they say the Republicans started wars for oil....heh
 
Written By: looker
URL: http://
The measure passed in a 324-84 vote, a big enough margin to override a presidential veto.
Let’s face facts, this is probably one of the biggest bi-partisan measures to date under the sterling leadership of Speaker Pelosi.
 
Written By: Neo
URL: http://
This just kept coming to mind ..
Otter: Bluto’s right. Psychotic, but absolutely right. We gotta take these bastards. Now we could do it with conventional weapons that could take years and cost millions of lives. No, I think we have to go all out. I think that this situation absolutely requires a really futile and stupid gesture be done on somebody’s part.
Bluto: We’re just the guys to do it.
 
Written By: Neo
URL: http://
consistency is for republicans. As Billy Hollis says, they get to decided what "is" is.
 
Written By: capt joe
URL: http://
Meanwhile, these folks go about the business of driving energy costs higher unmolested...
 
Written By: CR
URL: http://
Fifty years from now when historians look back at the Bush Administration, they will not treat this Harvard MBA so rudely as do the contemporary media. He gets it and they don’t.

Ask any 4th grader about trading baseball cards or marbles or whatever, and he will explain supply and demand. Why can’t our Congress understand it?
 
Written By: Arch
URL: http://
Why can’t our Congress understand it?
Because they are in the business of politics and the bottom line in that arena is THEM. THEY need to be seen doing something - anything. And as usual there is some sort of knee-jerk remedy that looks good to the great unwashed - but when push comes to shove, it will not fly.

Meanwhile Caribu in ANWR graze, fish off our coast predate on other, smaller fish and reachable oil just sits there while Congress plays with THEMselves and pats THEMselves on the back for soing such good work.

Not that I am advocating such activities - but a couple of well placed satchel charges on Capital Hill . . .
 
Written By: SShiell
URL: http://
Not that I am advocating such activities - but a couple of well placed satchel charges on Capital Hill . . .


The problem really resides with the morons who vote for these guys . . . so that wouldn’t work.
 
Written By: Don
URL: http://
It’s not who we vote for, it’s who they GIVE us to vote for, that’s the problem.
 
Written By: Jason
URL: http://
I find it interesting that during the early 1990s when there was a glut of oil, congress had proposed energy bill legislation to invest in alternate fuels, drill in ANWR and increase vehicle mpg, but times were good (for cheap oil) and the measure mostly fell on deaf ears. OPEC was at a loss to reduce the glut mostly due to the fact that quotas kept being broken by certain member states. Oil companies were laying people off by the thousands.

Now its 15 years later and it is the exact opposite. I am sure that the US political sentiment in the world has allowed OPEC states to band together more effectively (not allowing quota busting) and the promising reserve discoveries of oil worldwide are coming up surprisingly short from where they were anticipated to be 15 years prior.

All of this combines to bring us to where we are today. The energy bill in 92 was a good start and the taxes levied on oil from that time period would have funded alternative energy research (all forms) for the tune of about $50 billion dollars, but OPEC opened the tap, and the US drank, and nothing got done.
 
Written By: Ghostmachine
URL: http://www.universalthinker.net
Alternative energy research, yeah, right — I think the results are in, and I’d say that biofuels don’t represent a viable alternative to coal, oil, or nuclear power. I’m not even a politician and I’ve figured that one out.

Too bad about the billions of taxpayer dollars that have been thrown away on this biofuels monstrosity. I wonder how many tanks of gas people could have bought with that money. I guess we’ll never know, because the money’s gone.

Still, Congress refuses to give up, befriending people who can’t produce energy (farmers), while alienating and threatening those who *can* (oil companies). These politicians sure are smart.

Maybe we should just make it illegal to buy oil! Isn’t central planning great?
 
Written By: Bruce
URL: http://

 
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