House OKs Suit Against OPEC Over Prices

Measure Passes 345-72, But White House Objects, Saying It Might Disrupt Supplies

(CBS)  Decrying near-record high gasoline prices, the House voted Tuesday to allow the government to sue OPEC over oil production quotas.

The White House objected, saying that might disrupt supplies and lead to even higher costs at the pump. The Organization of Petroleum Exporting Countries is the cartel that accounts for 40 percent of the world's oil production.

“We don't have to stand by and watch OPEC dictate the price of gas,” Judiciary Committee Chairman John Conyers, D-Mich., the bill's chief sponsor, declared, reflecting the frustration lawmakers have felt over their inability to address people's worries about high summer fuel costs.

The measure passed 345-72. A similar bill awaits action in the Senate.

Separately, at a House hearing, lawmakers were told that crude oil prices have played a relatively minor role in the sharp increase in gasoline costs over the last three months, putting the blame on lower gasoline imports, refinery outages and continuing growth in demand from motorists.

Gasoline prices “may ease somewhat,” Guy Caruso, chief of the Energy Department's statistical agency, told the House Energy and Commerce investigations subcommittee. But he said pressure on gas prices will remain strong “with the hurricane season approaching, continued tight refinery conditions, low gas inventories and increased demand for summer travel.”

Nevertheless, the House felt it was important to take on OPEC, whose member states last t year agreed to cut production by 1.1 million barrels a day to counter what had been a buildup of world oil stocks.

Conyers accused the OPEC engaging in a “price fixing conspiracy” that has “unfairly driven up the price” of crude oil and, in turn gasoline.

His measure would change antitrust laws so that the Justice Department can sue OPEC member countries for price-fixing, and would remove the immunity given a sovereign state against such lawsuits.

But the White House said President Bush will be advised to veto the bill should it pass Congress because such suits could spawn retaliatory measures and “lead to oil supply disruptions and an escalation in the price of gasoline, natural gas, home heating oil.” global oil production.

Lawmakers have been frustrated over their inability to counter the surge in gasoline prices that last week averaged just under $3.22 cents a gallon, within a half penny of an historically inflation-adjusted high in March, 1981.

“As politicians ... there's no other issues of greater interest to us than gasoline prices and the impact it's having on the American public,” said Rep. Ed Whitfield, R-Ky., at a hearing by the House Energy and Commerce investigations subcommittee.

Rep. Bart Stupak, D-Mich., the panel's chairman, told of a person in his district complaining that gas had increased 21 cents a gallon over 10 hours this past weekend.

But the latest price surge at the pump may have had little to do with OPEC oil production.

“Increased crude oil prices have played a relatively minor role in (the recent) increase in retail prices,” William Kovacic, a member of the Federal Trade Commission, told Stupak's subcommittee. He said the price of benchmark West Texas crude increased no more than 15 cents a gallon over the last three months, while retail gas prices jumped 80 cents to 90 cents a gallon, depending on location.

“Big Oil is often quick to blame world crude oil prices, but that argument doesn't appear to be the full story,” said Stupak.

“While consumers pay record prices, oil companies are making record profits,” said Stupak. Refinery profits have jumped sharply to as much as 70 cents for every gallon of gasoline produced, he said.

[foolsrushin4]

To those who propose revolution are extremely late. If you read the opinions of our founding fathers you will find that we are now far more oppressed than those that revolted and formed our imperfect union.

"It would be a hard government that should tax its people one-tenth part of their income."

"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety."
-- Both quotes are Benjamin Franklin

"A bureaucracy once established turns away from whatever task it is supposed to do and instead works to administer itself."
-- Max Weber

"Those who ignore history are condemned to relive it."
-- Quoted by many, understood by tragically few

As to the high price of Gasoline it is our government%u2019s interference in the free market skewing the prices, as well as OPECS, if there were not over 30 different blends of gasoline mandated by federal, state, and local governments the gasoline industry could ship gas from surplus areas and refineries to areas of shortage. There is also the problem that no one wants a new refinery too close to their county club or summer house, and the EPA and lawsuits keep them from being built, more interference.

In closing I hope you all remember Freedom, Liberty, and responsibility were never taken from you; it was given freely in exchange for safety, comfort, and zero-tolerance. The blame for all of this lays with the people at large not the people in charge.

[timetrips1]

forthepeopl1, are you advocating the violent overthrown of the US Government? Wouldn't that be against the Constitution?

[forthepeopl1]

also get it in all blogs across the internet

EVERYONE THAT WANTS TO HELP WITH THIS SHOULD BE TALKING TO ALL MEDIA OUTLETS AND TELLING THEM THAT AMERICANS ARE READY TO TAKE WASHINGTON ON AND ITS NOT A FEW AMERICANS ITMILLIONS OF AMERICANS THAT WILL TAKE BACK THERE COUNTRY..

I AM WILLING TO GIVE MY BLOOD FOR ALL AMERICANS TO GET OUR COUNTRY BACK TO WHAT OUR FORFATHERS WANTED.

AM A VET AND AM READY TO TAKE CHARGE OF THIS AMERICAN BOYCOT/COOP IF WE THE PEOPLE DONT DO THIS NOW WE WILL BE GIVENING UP ON OUR CONSTITUTION AND WHAT ALL OUR VET HAVE DIED FOR..

DAVID A BELANGER,VET US ARMY,[e-mail]

ok so wants to join in on this great american REVOLUTION


they cant kill millions of americans at once so if we charge them all at once we will win and take them out and hang them all..

just like in the old days of the west...hang them from the trees in front of the whitehouse and see how many start telling the truth about what they have done to all us americans..


if the american NOW dont stand up and start a NATIONAL REVOUTION ON THIS WASHINGTON BULL S/H/I/T/ THEN we as TRUE AMERICANS can say nothing!!!

its time to take all this *** and take our government back now..

they are the ones that started this and we will finnish it now..we the people will take our country back and everyone in washington can sit there and thinks we the people are ok with what they are doing..go ahead and let them think that we are comming to take them out

[socrates392]

I agree kailumego1. It is not the Arabs fault. We need to build more refineries if we want cheaper gas prices. However, in the longer run, I think we'd be better off building solar and wind plants to power electric cars and investing in new technological research. Why invest in oil infrastructure, when we are inevitably going to have to abandon gasoline as a fuel source anyway?

[kailumego1]

As usual Americans are blaming the wrong person[s] it is American Oil Refineries that are to blame.

It's so easy to blame ARABS for all that ails Americans rather than taking a good long look in the mirror and pointing that finger elsewhere.

Capitalism unchecked is destroying the American laborer, and sooner or later the middle-class.

Nonetheless, American citizens are too busy using ARABS as scapegoats, considering the Iraqi War we should have learned by now, this government is not for the people, but the Mercantile.

This government and the media feed us propaganda about Arabs, and how if we don't Westernize these backwards extremist societies they are going to eventually invade the U.S., what a "crook of bull".

Unfortunately, many Americans have bought into this malicious propaganda, or they are so arrogant enough to believe in the Social Darwinian nonsense of racial superiority and privilege.

Giving them the right to invade into someone else's domain without consequences, how warped and illogical of some American's collective consciousness.

[agnim]

"Posted by random_radar at 02:04 PM : May 23, 2007"

Excellent points; but you left out a very very crucial culprit --

OUR OWN GREEDY, SELFISH, SELF-CENTERED PRICE-GOUGING OIL COMPANY OFFICIALS, WHO ARE BUYING OFF POLITICIANS TO LOOK THE OTHER WAY AND BLAME OTHERS AS THEY ALL SCREW THEIR OWN FELLOW AMERICANS!

Prices are high BUT NOT FOR OIL COMPANY OFFICIALS!
THEY TAKE NO HIT LIKE OTHER AMERICANS.

OUR PRICE GOUGING OIL COMPANY OFFICIALS DO THE HITTING OF AMERICAN POCKETS TO MAKE UNCONSCIONABLE PROFITS!

[random_radar]

Why is the price of oil so high?

1. We destroyed Iraq, which once produced a lot more oil we could have purchased.

2. We embargoed Iran, so they sell their oil to China.

3. We make enemies of other oil producing nations, so they also sell their oil to China because China happily pays with no question asked.

If we want to condemn, invade, and destroy other nations, we can expect to pay a price. That price happens to show up at the gas pump.

[schroeder.r]

The major problem I see as to gas prices is simply and purely GREED!!! Caused by price manipulation by the Oil Co's. We don't need to be suing OPEC We need to be suing our Oil Co's. For price gouging and manipulation. But then they'd just raise prices to pay for that. They have us under there thumb and they know it. And there just going to keep doing what they want until the public at large does something about it. We need to organize and figure a stratagie that will get big oils attention!!! If any other company (except the medical industry & Ins. co's) did this kind of manipulation they'd be in court by the goverment so fast they wouldn't know what hit them. But not oil co's. Are we going to stand together or just keep letting rip us off???

[forthepeopl1]

instead of the british are comming the brittish are comming

they will here americans are comming americans are comming

also get it in all blogs across the internet that its time for a american coop.

david a belanger,us army vet, [e-mail]

get it out.....get it out there
Posted by forthepeopl1 at 12:43 PM : May 23, 2007
+ report abuse
---------------------------------
----------------------------------------
-------

EVERYONE THAT WANTS TO HELP WITH THIS SHOULD BE TALKING TO ALL MEDIA OUTLETS AND TELLING THEM THAT AMERICANS ARE READY TO TAKE WASHINGTON ON AND ITS NOT A FEW AMERICANS ITMILLIONS OF AMERICANS THAT WILL TAKE BACK THERE COUNTRY..

I AM WILLING TO GIVE MY BLOOD FOR ALL AMERICANS TO GET OUR COUNTRY BACK TO WHAT OUR FORFATHERS WANTED.

AM A VET AND AM READY TO TAKE CHARGE OF THIS AMERICAN BOYCOT/COOP IF WE THE PEOPLE DONT DO THIS NOW WE WILL BE GIVENING UP ON OUR CONSTITUTION AND WHAT ALL OUR VET HAVE DIED FOR..

DAVID A BELANGER,VET US ARMY,[e-mail]

[forthepeopl1]

instead of the british are comming the brittish are comming

they will here americans are comming americans are comming

also get it in all blogs across the internet that its time for a american coop.

david a belanger,us army vet, [e-mail]

get it out.....get it out there
Posted by forthepeopl1 at 12:43 PM : May 23, 2007
+ report abuse
---------------------------------
----------------------------------------
-------

EVERYONE THAT WANTS TO HELP WITH THIS SHOULD BE TALKING TO ALL MEDIA OUTLETS AND TELLING THEM THAT AMERICANS ARE READY TO TAKE WASHINGTON ON AND ITS NOT A FEW AMERICANS ITMILLIONS OF AMERICANS THAT WILL TAKE BACK THERE COUNTRY..

I AM WILLING TO GIVE MY BLOOD FOR ALL AMERICANS TO GET OUR COUNTRY BACK TO WHAT OUR FORFATHERS WANTED.

AM A VET AND AM READY TO TAKE CHARGE OF THIS AMERICAN BOYCOT/COOP IF WE THE PEOPLE DONT DO THIS NOW WE WILL BE GIVENING UP ON OUR CONSTITUTION AND WHAT ALL OUR VET HAVE DIED FOR..

DAVID A BELANGER,VET US ARMY,[e-mail]

[forthepeopl1]

instead of the british are comming the brittish are comming

they will here americans are comming americans are comming

also get it in all blogs across the internet that its time for a american coop.

david a belanger,us army vet, [e-mail]

get it out.....get it out there
Posted by forthepeopl1 at 12:43 PM : May 23, 2007
+ report abuse
---------------------------------
----------------------------------------
-------

EVERYONE THAT WANTS TO HELP WITH THIS SHOULD BE TALKING TO ALL MEDIA OUTLETS AND TELLING THEM THAT AMERICANS ARE READY TO TAKE WASHINGTON ON AND ITS NOT A FEW AMERICANS ITMILLIONS OF AMERICANS THAT WILL TAKE BACK THERE COUNTRY..

I AM WILLING TO GIVE MY BLOOD FOR ALL AMERICANS TO GET OUR COUNTRY BACK TO WHAT OUR FORFATHERS WANTED.

AM A VET AND AM READY TO TAKE CHARGE OF THIS AMERICAN BOYCOT/COOP IF WE THE PEOPLE DONT DO THIS NOW WE WILL BE GIVENING UP ON OUR CONSTITUTION AND WHAT ALL OUR VET HAVE DIED FOR..

DAVID A BELANGER,VET US ARMY,[e-mail]

[homespunlady]

How low have we sunk if there's even NO honor amongst liars and thieves anymore.
After emptying out the US treasury and shipping it to those "special buddies" of our TOP EXECUTIVE BRANCH RESIDENTS. Their misplaced trust might be catching up with them.
Either that or it's one last GREAT ILLUSION on the American Public Taxpayer.
Haliburton is deserting them and even announcing it.

Why don't I feel sorry for them??

[forthepeopl1]

also get it in all blogs across the internet that its time for a american coop.

david a belanger,us army vet, [e-mail]

get it out.....get it out there
Posted by forthepeopl1 at 12:43 PM : May 23, 2007
+ report abuse
--------------------------------------------------------------------------------

EVERYONE THAT WANTS TO HELP WITH THIS SHOULD BE TALKING TO ALL MEDIA OUTLETS AND TELLING THEM THAT AMERICANS ARE READY TO TAKE WASHINGTON ON AND ITS NOT A FEW AMERICANS ITMILLIONS OF AMERICANS THAT WILL TAKE BACK THERE COUNTRY..

I AM WILLING TO GIVE MY BLOOD FOR ALL AMERICANS TO GET OUR COUNTRY BACK TO WHAT OUR FORFATHERS WANTED.

AM A VET AND AM READY TO TAKE CHARGE OF THIS AMERICAN BOYCOT/COOP IF WE THE PEOPLE DONT DO THIS NOW WE WILL BE GIVENING UP ON OUR CONSTITUTION AND WHAT ALL OUR VET HAVE DIED FOR..

DAVID A BELANGER,VET US ARMY,[e-mail]

[forthepeopl1]

also get it in all blogs across the internet that its time for a american coop.

david a belanger,us army vet, [e-mail]

get it out.....get it out there
Posted by forthepeopl1 at 12:43 PM : May 23, 2007
+ report abuse
--------------------------------------------------------------------------------

EVERYONE THAT WANTS TO HELP WITH THIS SHOULD BE TALKING TO ALL MEDIA OUTLETS AND TELLING THEM THAT AMERICANS ARE READY TO TAKE WASHINGTON ON AND ITS NOT A FEW AMERICANS ITMILLIONS OF AMERICANS THAT WILL TAKE BACK THERE COUNTRY..

I AM WILLING TO GIVE MY BLOOD FOR ALL AMERICANS TO GET OUR COUNTRY BACK TO WHAT OUR FORFATHERS WANTED.

AM A VET AND AM READY TO TAKE CHARGE OF THIS AMERICAN BOYCOT/COOP IF WE THE PEOPLE DONT DO THIS NOW WE WILL BE GIVENING UP ON OUR CONSTITUTION AND WHAT ALL OUR VET HAVE DIED FOR..

DAVID A BELANGER,VET US ARMY,[e-mail]

[forthepeopl1]

also get it in all blogs across the internet that its time for a american coop.

david a belanger,us army vet, [e-mail]

get it out.....get it out there
Posted by forthepeopl1 at 12:43 PM : May 23, 2007
+ report abuse
--------------------------------------------------------------------------------

EVERYONE THAT WANTS TO HELP WITH THIS SHOULD BE TALKING TO ALL MEDIA OUTLETS AND TELLING THEM THAT AMERICANS ARE READY TO TAKE WASHINGTON ON AND ITS NOT A FEW AMERICANS ITMILLIONS OF AMERICANS THAT WILL TAKE BACK THERE COUNTRY..

I AM WILLING TO GIVE MY BLOOD FOR ALL AMERICANS TO GET OUR COUNTRY BACK TO WHAT OUR FORFATHERS WANTED.

AM A VET AND AM READY TO TAKE CHARGE OF THIS AMERICAN BOYCOT/COOP IF WE THE PEOPLE DONT DO THIS NOW WE WILL BE GIVENING UP ON OUR CONSTITUTION AND WHAT ALL OUR VET HAVE DIED FOR..

DAVID A BELANGER,VET US ARMY,[e-mail]

[cathaleen]

We should switch to Canada and tell the Saudi's bye, bye. But we can't do that because all our politicians suck up to the arabs.

[homespunlady]

From an AP article put out at 8:33 AM EDT Tuesday titled "Halliburton Shifts Focus Toward Mideast":

And, in a year and a half, the company's much-discussed ties to the Bush administration will end when Bush leaves office. U.S. Vice President *** Cheney was Halliburton's previous chief executive.

"We do have a link to the current administration that will cure itself in the very near future," Lesar said.

Lesar arrived in Dubai on Saturday to begin his stewardship of the company from this Persian Gulf boomtown, home to dozens of international banks and corporations, including U.S. giants like General Electric, Microsoft, Goldman Sachs and Citibank. Halliburton is the first major western corporation to move its chief executive here.

[homespunlady]

Trying to sue OPEC for the price gouging being practiced by the MULTINATIONAL energy companies is like putting a dress on a pig.
It it's ridiculous, doesn't make the pig any more attractive and anyone that thinks it is has to be either blind or desperate.

[homespunlady]

Canadian oil would be a good idea except they've locked in contracts with OTHER countries like China. Same for the Canadian Fuel Cells. Canada makes a great small fuel cell but due to US arrogance and energy regulations Canada apparently found it EASIER to sell those to China too.
Most of the US legislation is put forward by LOBBYISTS the largest group being BIG MULTINATIONAL CORPORATION funded. Those companies MAY HAVE STARTED IN THE US BUT HAVE LONG AGO DESERTED their allegiance to the US.
Check out how many have "gone offshore" to increase their profit. GE, Haliburton, etc. have moved their leadership to DUBAI since it's "tax free" and they can skirt regulations without risk of any government finding them "ENRON guilty".

[sandmanwv]

Sorry, posted the wrong URL it is:

http://www.newamericancentury.org/statementofprinciples.htm