“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.”
“‘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.”
My guess is that OPEC is charging fair market values. The price of oil is skyrocketing because the US dollar is dying. Compared to the price of gold, oil has stayed level. There hasn’t been any real increase in demand. Until there is, I wouldn’t expand OPEC to increase production. After all, what would they get in return? Certainly not increased profit. In fact, they might lose money in the deal.
I am tired of George W. Bush. He’s on my TV right now, holding a press conference in the Rose Garden, going on and on about how Congress is so unreasonable not to let him drill for oil in Alaska or build new refineries. No word, however, on whether he would sink any money into research and development of alternative energy sources. We do not need more of this lunacy.
Oh, wait, now he gets a question about this, and he says there is “not enough emphasis on the here and now.” Congress is too worried about ethanol and hydrogen, he says. Huh? No, the problem is that we have too much emphasis on the hear and now at the expense of the future.
What a jackass. He’s being rude to the reporters now. Lame. Listening to this jerk is like listening to a petulant little boy. He doesn’t act like a president. He acts like a child. Talks like one, too.
Oh, oh, this is good. Now he says that Congress is “letting the American people down” because they don’t let him do what he wants to do. “Either it’s a lack of leadership or it’s a lack of understanding.” Right. So Congress, the branch that is inherently and by design more closely connected to the people than the Executive, is “letting the American people down” when they exercise their checks on Executive power. Right.