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By Robert Rapier on May 23, 2007 with no responses

Congress Takes Aim at OPEC

Tags: OPEC, politics

From the Houston Chronicle:

House legislation would label oil cartel’s actions as illegal

Championed by House Judiciary Committee Chairman John Conyers, D-Mich., the bill would essentially make it illegal for foreign nations like those in OPEC to operate a cartel.

Under federal law, foreign governments cannot be sued for failing to comply with federal antitrust laws.

“We don’t have to stand by and watch OPEC dictate the price of our gas,” Conyers said. “We can do something about … this anti-competitive, anti-consumer behavior. And we are.”

That’s right OPEC! Quit hogging our gas!

Cavaney argued that lawmakers could likewise be accused of withholding oil production, since they have refused to let operators drill off most of the nation’s coastline.

“They’re criticizing others for the very actions they’ve done,” Cavaney said.

Funny. I feel like I am in the Twilight Zone. Either the public at large is incredibly stupid, our politicians think they are incredibly stupid, or the politicians themselves are incredibly stupid. It’s not clear to me which it is. Suing OPEC because they won’t deplete their oil reserves fast enough to suit us. Incredible.